Forex Weekly Forecast | GBPUSD, EURCHF, AUDCAD, CADJPY | 11 March 2024 - By Vladimir Ribakov

Hello traders, how are you? Vladimir here from Home Trader Club. Welcome to the weekly forex forecast. Before the charts, I would like to wish all the women watching and to all the women in your life, if you are a man watching, a very happy International Women's Day. Top wishes, best wishes, and warmest wishes from my heart to all the women watching us or in your life. Only the best. In today's video, some absolutely phenomenal trading opportunities. But before we start, I would like to remind you that we still have the special offers for the community available thanks to Eightcap Broker. To enjoy the special offers including the access to Home Trader Club up to 1 full trading year, access to all the trading systems, the SRS, the Forex BBB Pro, and all the trading tools from the marketplace. Also to the private mentoring sessions. Just follow the link below this video in the description. The first pair I would like to talk about would be the GBP/USD. So recently in one of the weekly forecasts, we were talking about 2 scenarios. One of the scenarios was what will happen if we break above the daily range. And as we can see at the moment, the pound-dollar does that exactly. It breaks this range, it breaks above these 2 major bearish candles, and it does that in a structure that I personally love to see: 3 higher highs, higher lows, which maintain a bullish momentum, bullish pressure. So the biggest question is, what does that mean? For that, let's quickly take a look on the monthly chart and the weekly chart, not because we are going to trade it, of course, just to give the idea what and why am I bullish. So judging the long-term analysis, I would expect here after the triple cycle and a major bullish divergence on the MACD, I would expect the pound-dollar to continue its rally for the long term. So buy the dips is definitely a great plan. And on the weekly chart, the way that the waves were structured in here is— if you follow us in this channel, that you know we discussed about 2 scenarios. Scenario number one, that we're gonna have a corrective structure here in terms of a range or ABCD and continuation. But in some cases, the market makes two waves up, one wave down, and then a final rally to complete this sort of a triple cycle. And this is very likely what the pound dollar is going to do while we have some key zones on the on the go to meet, and that would be basically somewhere here. The reason is of course the peak of the previous uptrend. And the last significant high when this downtrend started. So there is a great chance that for the long run we're gonna see the pound-dollar completing the rally towards this zone and then very likely top divergence, and by then we will have a new video. So going to the daily chart, and this is where the interesting part starts, the daily chart had its bullish structure Of three higher highs, higher lows. Then we got the range and breakout, and the breakout happened to be in three higher highs, higher lows structure by itself. Significant wavings which usually hint for pullback and further continuation. So we saw the levels from the weekly chart. If we plot Fibonacci extension on the daily waves, we can see that the 61.8. Still has a great room for us towards the 130. The 100 Fibonacci extension bring us— remember the weekly levels— that this, the 100 would bring us exactly there. Okay, and of course the 161 Fibonacci expansion would bring us to the top of the next level we mentioned. So this would be a classical combo. And if we go to the 4-hour chart, here is where The opportunity should happen. So right now, the pound dollar has a phenomenal ride on the upper Bollinger Band for over than 20 candles, right? As you can see, this is my custom indicator for the Bollinger Band and one of my preferred trading ways against the trend and with the trend. If you have this indicator, you know what I'm talking about. If you don't have this indicator, make sure. You get yourself this gem, I would say. But don't judge me here because it's my own creation. So I have— of course, I love this indicator. Well, the last time we had these similar occasions, I would say, was here when we were riding on the upper band drop and continuation. And before that, it was here in November 2023. Where we were riding the upper band, drop and further continuation. And that's pretty much what I would expect from the pound dollar now as well. We are riding on the upper band. We are in conditions of overbought. I believe that in this zone the pound should peak, make some pullbacks, and from there I believe we are going upside further with the. Daily and the weekly chart. Uh, so some key levels to watch in the pound-dollar is of course the first one here, the inner zone, some, uh, fight buyer-sellers, and then the explosion of the, um, buyers. The previously created resistance that was broken here as well, it now become a support. And of course the dynamic supportive line as well Pullback to any of these zones should provide further rallies and great buy opportunities. Let me know what do you think about the pound-dollar and how far do you believe the pound can rally to. Share your thought in the comment section below this video. The next one is going to be the euro front, but before we continue, I would like to ask your support and your help. If you find value in this video and you appreciate the work, please hit this like button. You know how it's important to all the algorithm, uh, for YouTube. And if you are new to this channel, then welcome to our community. Please consider to subscribe with the subscribe button below this video. Also feel free to share this video and spread the word to the world, the word to the world about this video and about trading opportunities To anyone who you believe can really benefit watching this video and to enjoy these trading opportunities. And of course, thank you very much in advance for taking your time and for help. Also, few words in the comment section, some feedback would be a really great support. So thank you very much in advance to all those of you who take the time to help. So what do we have on the euro franc and why do I find it so interesting? So it's a bit I would say controversial between the long term and the short term, because on the long term, I believe that with this bullish divergence on the weekly chart, there is a great chance that the euro franc is going to create some sort of corrective move, or at least move here inside some range for a long time now. So this is for the long run, yeah, but on the short term, that's where the interesting part starts to happen. We have, from my point of view, classical supply zone. Lots of sellers here and here, of course. And this area, one of the reasons why I love it is because it was a great support right here. Just mark it with some circle. It will be easier to understand. Yeah, right here, which became also resistance. So. Classical supply where sellers took control from, also the resistance which was holding the levels for a while. And also, if we take a look at this Bollinger Bands breakout, okay, once again I'm going with my indicator here. So right from this breakout, take a look where the duplication level is, okay? So look at the dynamic resistances based on Bollinger Bands. It is directly there. So I believe this zone is on a short-term rally towards this area should provide short-term sell opportunities. And if we take a look on the 4-hour chart, this is where the interesting part starts to happen. Take a look on this last daily wave, right? But as it is forming and creating itself on the 4-hour chart, of course, to Here, right? So we have the classical supply, the resistance, and the Bollinger Band zone. And the 4-hour chart is very likely building here a major divergence on the coming peaks, and also divergence between all the 3 peaks. That's what makes it so special. So I believe the euro franc should complete a final rally before it makes significant corrective move down, but also because the higher time frame is bullish. And let's assume whatever the reason is in the market, we didn't have the rally before the drop. If the EUR/CHF completes here a corrective structure in 2 waves, then we can also be looking to buy these dips towards the levels we just saw from the daily chart. That's a double opportunity. We have a dynamic supportive line. We have broken resistance that becomes support. We have demand area, which also was a previous resistance, now acts as demand, right? Resistance that now acts as a support. Absolutely phenomenal zone. So whatever of the scenarios happens here, happens to be here, and whatever the market decides to do, we will be good for that. So rallies and sell towards this mentioned zone, or if it first of all makes the pullback, then buy towards that daily zone. This is my trading plan on the euro franc. Let me know, how do you see this pair and what would you expect from this one? Share your thoughts in the comment section below this video. The next pair I want to talk about is the Aussie CAD. Very interesting opportunity in one of the trades we were trading in Home Trader Club in the last week. So one, this is the trade I refer to, of course, you can find it here in the trading journal. This is our buy, but here is why I love this pair. Take a look on the numbers. Okay, this is one of the features we have here, the market strength snapshot. In the members area of Home Trader Club, look at the numbers: one month over 1.5%, seven days close to 1%, the last 24 hours also bullish. Triple synchronization. Yes, shrinking numbers, which means pullback is likely, but the pressure is bullish. And if we go here to the charts once again, this was our buy. We got first target zone is reached. Let's take a look quickly on what is expected. Expected next for this pair. So if we go with the weekly chart, the weekly chart had 2 waves here with a bullish divergence on the MACD as well as the RSI. Very likely that after such things we are exposed to 2 waves to the upside, or at least some sort of a range. So according to weekly, buys make sense. Daily chart did have at the end of this break of the trend line, right, and the bullish divergence that was forming here, they started to make the higher highs. And not only higher highs after the break, but also this bullish structure, which stands for a definition of an uptrend. After that, we got this corrective move to the downside, and now again we break outside and making the higher highs, higher lows without any significant signs against. So I believe that this corrective wave is due to continuation, and any pullbacks here should provide further bullish opportunity from my point of view. Going to the 4-hour chart, same story. The first daily leg completed 3 higher highs, higher lows, then ABCD with a bullish divergence and the breakout. And right now No divergence against the bullish momentum looks like continue. So any pullbacks here, and I believe the Aussie CAD has more to offer to the upside. We have a dynamic support here. We have a major resistance that was a support the month before now acts as supportive zone and as a demand area by itself. As long as this area holds, I believe the Aussie CAD has more to offer. What would be your thoughts about this pair? And if you enjoy the rally of the Aussie CAD, let me know in the comment section and let me know how far do you think this one can go. The final one I want to share is the CAD yen. So we did enjoy—we still do, by the way—a couple of trades. In Home Trader Club, one of them was the pound yen sell, which delivered us the first target zone. And there is one long-term sell we have. This is the Swiss yen, which finally started to deliver this week after some time. So the way that the the way I see that yeah on the CAD yen it here is the reason why I love it. Look at the negativity of all the three different time frames. Half percent over a month, two percent close to two percent on the last seven days, and almost one percent in the last twenty-four hours. This is a great synchronization, which usually means go with the momentum, sell the rallies is the plan if it fits the technical view. And take a look how perfectly it fits the technical view. So this is the CAD yen on the long term. The The weekly chart. Okay, at the end of this rally, we come to the end with a bearish divergence. Higher highs on the chart with a false breakout, right? Fake high here and the bearish divergence. Three following candles increasing momentum candles. Each candle is bigger than the one before on the weekly chart, making lower highs, lower lows. Phenomenal say. By the market. Going to the daily chart, the daily chart did not have a classical moving average divergence at the end of this rally, but this came to the end with a histogram divergence. While the market was making higher highs, histogram was making lower highs, flipping from positive to negative to positive as well. And on the 4-hour chart, this is where the fun, I would say, begins. as the market created false breakout and then lower lows, it flips the trend, right? And then we got the 3 lower highs, lower lows on the 4-hour chart without any signs against. So from my point of view, this low is due to be broken and then sell the rallies become the trading plan for me. Okay, if we go to the daily chart, we could easily see that this Level first of all is likely to be retested, and then we have this major demand area. You can see how many buyers here with all these spikes took control from. There is a great chance we're gonna see the CAD yen aiming towards this zone. So going to the four-hour chart once again, we have the sequence of the lower highs, lower lows. No signs against any pullback from broken. Supports towards the supply areas should be the further sell continuation. Straightforward. So this is my view for CAD yen, and this is why I love this one. What do you think about the CAD yen? Should we see another high, or the high was created and now the bearish trend is on? Share your views in the comment section. That's pretty much it for this video. As always, I hope you find value watching that and you enjoy the opportunities. 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