Vladimir Ribakov analyzes GBP/USD, EUR/GBP, EUR/JPY, and Bitcoin using technical charts and volume profiles. The week brings major interest-rate decisions from Japan, Australia, Canada, the US, Europe, and the UK. He sees potential downside in EUR/GBP and EUR/JPY, while Bitcoin shows compression before a likely sell-off.
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Hey guys, how are you? Vladimir here from Home Trader Club. Welcome to our weekly forex forecast. Before the charts, quick reminder: we teamed up with one of the top leading brokers in our industry, the forex trading, not only forex, AvaTrade, which means for you. What? That you can get access, unlimited access to Home Trader Club and all of our softwares, indicators from the marketplace, trading strategies, trading systems, semi-automatic trading solutions, risk management, Bollinger Band— everything is included. Follow the link below this video in the description, get your account with AvaTrade broker, contact me And get your access. First one for today, the pound dollar. Last week we discussed about the expectation we've had of the pound dollar to drop down before the buyers take their control once again. And the biggest question is what's coming next? For that, it's good to bring up to your attention. It's good to discuss about the news we have this week. And this week is all about interest rates everywhere. It starts with Japan on Monday. It follows with the inflation data in Australia on Tuesday. Why it's important? Because according to the consensus, Australia is expected to hike the rates on the next meeting, maybe even more. So this CPI could be critical. Then it continues with rates in Canada and the US on Wednesday. Europe and Britain on Thursday, and all that means to us that there could be lots of volatility and speculations during the week. But technically speaking, what do we have on the pound-dollar? So if you take a look on a daily chart, this volume profile zone managed to hold. On a daily chart, we have the beautiful zone of the dynamic 50 and 200 moving averages as a dynamic support. So theoretically speaking, this is a fantastic zone. Where we should see the GBP/USD pushing further. On the 4-hour chart, the waves managed to break this range, which is another positive sign. From this kind of price action, there are 2 scenarios the price usually follows. Scenario number one, the ideal one, we actually get this momentum, get some retraces, and from there continuation upside with the break above the recent high. Scenario number 2 is that the price actually managed to make one more push, like a trap or manipulative movement, before it actually skyrockets. Pay attention that we have big volume profiles on here and slightly lower. The dynamic moving average we saw on a daily chart, 200 moving average on the 4-hour chart, is here as well. This is a strong demand area. These lows demand area where the buyers took the control. All that is phenomenal zone. We as well have the rising supportive line. So even if that manipulative move does happen, it should be just to push the pound dollar further to the upside. Let's talk about a pair we did not cover. For some time now, that's the euro pound. Very interesting thing happening here with this bearish divergence on the weekly chart. The expectations from the euro pound to complete these two waves to the downside at least, and with that idea in mind, take a look how the daily charts develops. We start to see sequences of lower highs, lower lows. The chart, the price starts to move kind of inside this bearish channel. The volume profile zone holds. The 200 moving average with the 50. Moving average holds. So that becomes a very strong zone, and as long as the price managed to hold below the last high and the peak of the, uh, falling channel, the idea here is any pullbacks could deliver further move to the downside. On the 4-hour chart, we can see the pair already started to make sequences of lower highs, lower lows. Currently no opposite signs against So pullbacks here are welcome, but as long as the levels we discussed hold, it should be nothing more than a further sell. So for me, this one is bearish. What do you think about that? Let me know. Next one is the EURJPY, which starts to be very interesting. Look what happens here on the higher time frame. It is developing some sort of bearish divergence, and we are very close to overbought conditions. We are talking about very long term. On the weekly chart, we start to see the slowdown condition. Look at these beautiful higher highs on the chart, lower highs on the MACD developing. That's bearish divergence conditions. So right now we are looking for the daily chart to complete these 3 waves, and once it does, usually that means if a next high is about to happen, will happen, then on most cases it is a trap high before a major drop to the downside happens. So I would be looking on the EURJPY exactly for this kind of scenario. If we do see another high taking place, I would be looking for bearish divergences to complete Higher highs on the chart, lower highs on the MACD. Once it kicks in, for me that's a sell sign. And the final one is Bitcoin. What's up with the Bitcoin? So it's very simple, I would say. As this low right here managed to break and make lower lows, usually the following price reaction is the retraces up to where Look at this range. This is where the sellers took control from. Therefore, this range becomes zone of interest. So there is also this spiking zone. You see here the this spike that becomes a very very good zone to look for the sell. So if the Bitcoin managed to climb towards that, that should be a very good sign for the sell. On the daily chart, it starts to look like. Kind of price compression, which means the wave to the upside starts to happen slower, slower, slower, slower, slower, slower, smaller and smaller and smaller candles in average. And that means the buyers are exhausted and sellers are about to take the control. So if we do have this kind of final manipulative push on Bitcoin, for me, this is a sign to look for the sells. Until then, I would not be surprised if after some retraces Bitcoin will try to climb closer to this zone before, before the sellers hit the market again. That's it from me. What do you think about the trading opportunities? Let me know in the comments. And thank you for your time watching this video. As always, I hope you find some value in watching that. Don't forget, hit the like button. If you are new to our channel, make sure you subscribe to enjoy all the trading opportunities we share here with you and the trading educational videos. If you have any questions, don't hesitate to ask in the comments, of course. And once again, I want to invite you to our trading family, the Home Trader Club. Get your access to our full comprehensive courses, real-time education, real-time opportunities. The links to join below this video in the description. Thanks for watching. Best to you and yours. Good trading, and I'll see you soon with more. Bye for now.
