Forex Weekly Forecast - GBPUSD, EURJPY, GOLD XAUUSD, AUDCAD - 8 April 2024 - By Vladimir Ribakov

In this weekly forex forecast video, Vladimir Ribakov of Home Trader Club provides a technical analysis and trading plan for four instruments: GBP/USD, EUR/JPY, gold (XAUUSD), and AUD/CAD. He begins with a greeting and a thank‑you to Eightka Broker, highlighting special offers and an upcoming live trading room. For each pair/currency, Ribakov examines recent price action across multiple timeframes (monthly, weekly, daily, 4‑hour) using indicators such as Bollinger Bands, MACD divergence, RSI, and Fibonacci extensions. He identifies key support/resistance zones, bullish or bearish divergences, and potential ABCD corrections or range formations. The trading recommendations are: sell rallies on GBP/USD and EUR/JPY, buy dips on gold and AUD/CAD, with specific price targets (e.g., 38.2% and 50% Fibonacci levels for AUD/CAD, 61.8% extension for gold). He emphasizes disciplined risk‑reward management, especially when trading against higher‑timeframe trends. The video concludes with repeated calls to action: like, comment, subscribe, and join the Home Trader Club community via a partnership with Eightka Broker, which offers access to trading systems, live rooms, courses, and webinars.
Chapters
Hello traders, how are you? Vladimir here from Home Trader Club. Welcome to the weekly forex forecast. Before we start, I would like to wish to all those of you who celebrate happy Eid al-Fitr this week, and in today's video we have several very interesting opportunities I want to cover. Pound dollar, euro yen, Aussie CAD, and gold. So let's begin. First of all, big thanks and thumbs up to Eightka Broker for supporting me, my community, and this channel. To enjoy all the special offers we have together with Eightka Broker, including the access to my trading systems, Home Trader Club, private sessions, and Listen carefully: the live trading room projects for day traders, which we will start the next week—not the coming—the week after. You can enjoy all these offers with the link below this video in the description. Okay, so let's begin. Pound dollar is our first pair for this week. Last week we were talking about bearish view and that we expected to see. Further move down. So what happened is that the beginning of the week, the pair indeed delivered the move down, blocked on this pretty strong supportive area we have here around the 125 round number. And what happened there after that is a condition of bullish divergence. At the end of these three waves, the market made lower lows versus. Higher lows on the moving average of the MACD. However, this is only the 4-hour chart because the longer-term charts, as we discussed, uh, the last week, still— sorry, let's go to the daily— still under that bearish divergence and nothing changed on the daily chart. So the expectations we've had last week Where at the end of these 3 waves, the pound-dollar still should deliver either ABCD correction or any sort of a range here before the market will decide what's coming next remain absolutely the same. And the plan this week would be pretty much the same: sell the rallies. So let's go to the 4-hour chart and let's break it down to waves to see where do we stand. At the end of these 3 bearish waves, GBP/USD completed bullish divergence— lower lows on the chart versus higher lows on the indicator. Usually what happens in such cases, the price makes any sort of ABCD correction before continuation and/or some sort of a range and then break that and continuation. All these scenarios are very possible. Of course, we have some very important levels to pay attention to. We have this major supply zone of zone of sellers. Then it turned to be a support broken and resistance now. So as long as this area first area holds, the importance of this zone for the sellers is significant. And we have this level zone of sellers. Which is slightly higher. So as long as this area holds, any pullback in ABCD or a range should be a good sign for further sell. What we do not want to see here is if the pair suddenly makes 3 higher highs, higher lows, which will contradict the bearish view and the expectation of bearish momentum, bearish continuation, especially if that would be gaining waves. which means every wave will get faster and stronger than the one before. If that happens, of course, that invalidates the bearish view. Also, if we take a look on the market snapshot, which is one of our features in Home Trader Club, take a look what the— what can we see on the GBP/USD. The monthly chart is pretty much break-even, right? And that's important after massive rally we've had in this pair. a sequence of a strong bullish structure there, uh, then monthly now is pretty much equal. The last 7 calendar days is negative over the 1%. A little pullback which started to happen here usually fits in the category of sell the rallies to join the bigger momentum, and that's pretty much what we see on the GBP/USD. So the numbers are basically lined up here or synchronized together with the analysis and therefore our expectations for this continuation down as long as this structure did not change itself. Let me know how do you see the pound dollar? What would you expect from this one? Share your thoughts in the comment section below this video. The next one on our list is the euro yen, but before that I would like to ask Your support and your help. If you find value in this video and you appreciate trading opportunities and the education shared with you here, please hit this like button below this video. A few words in the comment section makes a big difference. You know how YouTube algorithm works and all that. Feel free to share this video with anyone who you believe can benefit watching the opportunities and enjoy this trading. And also, if you are new to our community, please consider to subscribe. With the subscribe button below this video. Thank you very much for taking the time to support, to help. Now let's continue. So the next pair is the euro yen, which has phenomenal technical conditions. It has over than 20 candles right on a monthly upper Bollinger Band. This is a custom Bollinger Band indicator, one of the indicators I have and I use, and it's one of my favorite signs for trading. Last time it happened was right here during 2013-2014 before it made a major pullback. I believe the euro yen is not too far from building up this sign now as well. Besides that, we are very close here to a major resistance from the monthly chart. Altogether, we see the MACD slowing down as well. That should be a good sign. To look for a sell. If we go to the weekly chart, then what we can see on the weekly chart is that at the end of these waves, the EURJPY is again building up a bearish divergence. It's again phenomenal sign. So I believe that on the coming several weeks, the EURJPY is going to build its sell and start the move down. I said weeks, however, it could start any moment. So here are the trading plans 2 scenarios I will be following. Scenario number 1, the EURJPY is yet to complete one final push. We already had one fake high under bearish divergence. While the market made higher highs, indicator shows lower highs. We could experience one more attempt of the same structure under the bearish divergence, one more fake high. And that means in that place look for the sells. Fake rallies to be sold. The other alternative scenario here is we go up, break the trend line, the rising supportive trend line on the daily chart, rallies and look to sell. And the next potential scenario is actually coming from the 4-hour chart because the weekly, the daily already had bearish divergences. While the daily, the 4-hour chart had extreme conditions riding on the Bollinger Bands indicator once again for more than 20 candles, right? Completing very strong high on the MACD histogram and RSI and overbought conditions, and we saw the move down. The interesting part is the move down was built in 3 waves. So usually what should follow here or could follow here not should, is one of the possible scenarios of some sort of a zigzag, then a break below the rising supportive line and the trend line, and further continuation down. Of course, it could build some range here and also complete this move. So one of these scenarios, whichever the price structure happens to be on the EURJPY, that would be My sell trigger. Keep in mind, I record this video. It's now Friday, about couple of hours before the market is closed. That means the final price that you will see during the weekend could be slightly different. Okay, so I just want you to to know if you see the difference while watching. Let me know what do you think about the euro yen. Share your thoughts in the comment section below this video. The next one is gold, which is continuously making all-time high. And who would believe just several months ago that we will be above $2,300? Uh, we had— so basically here we are, and following our weekly forecast from the last week where we said buy the dips should be the trading plan, gold continued to make these highs. However, take a look what starts to build up here— over 20 candles right on the upper Bollinger Band. Last time it happened was in March, where it caused a decent pullback. And it happens to be not only on the four-hour chart. Let's go to the monthly chart, where we can see that the gold is completing a potential cycle. We are right now around the 61.8 Fibonacci extension on both levels. Okay, as we are slightly above in deviation, that could start making a slowdown around this. That's important to pay attention to. And if we go to the weekly chart, then take a look what happens here on the Bollinger Bands. Here with the breakout, once again, this is one of my custom indicators which I absolutely love to work with. With this breakout, we have duplications on currently here, and one is slightly higher. I said slightly even though it's a range of almost $200 per ounce. However, for such rallies, usually it is not significant on the weekly chart. So right now we are facing a very strong zone, dynamic zone. And if we go to the daily chart, we see that the daily also have a riding on the upper Bollinger Band indicator without any pullback. The last time it happened on the daily chart was here, and we all remember the strong pullback happened afterwards. Histogram starts to build up a bearish divergence. RSI is being double over both conditions. All that puts a strong pressure. I believe that the gold should start and make some sort of a pullback. All these new highs to be created could provide Indeed, a deeper pullback. Keep in mind, if you trade such opportunities, look to work with that carefully and smart risk-reward because you are against higher time frames, significant against. Okay, so yes, there are signs. Yes, we are on key level. Yes, there are divergences and riding on the Bollinger Bands. And yet the price is the king. Indicators indicate, price dictates. Remember that. So when you approach towards something like that which is against the major trend before price makes the reversal signs completed, it has to be very, very, very smart risk management in aggressive approach, which means risk smaller than usual. So on the short term, for me, it starts to look for the retraces. For the longer term, after these pullbacks, possibly to see further bullish continuation with the bigger trend we currently experience. What is your thought? What is your view about the gold? What would you expect to see from this one? Share with us in the comment section. The final one for today would be the Aussie CAD, which I also love. We've had double cycle on the weekly chart at the end of these two major waves. The bullish divergence on the MACD was formed. We usually after such we experience ABCD or a range, and right now it seems like ABCD is forming. If we plot Fibonacci on this double cycle, usually the price is going towards the 38.2, sometimes. Also towards the 50% Fibonacci. So keep that target in mind because if we go to the daily chart, after the recent trend line or as following resistance line was broken, daily chart gained the higher highs, higher lows, completed a pullback with 2 waves and bullish divergence on the histogram, completed the breakout, and now regains the momentum with 2 waves up, 2 waves down. Down, which this week were broken. So for me, pullbacks and further buys is the trading plan. If we go to the 4-hour chart, we will see that right now with the most recent Bollinger Band duplication from the most recent breakout, we are right now on the first duplication level. The next one is slightly higher. In between these zones, I believe dollar The Aussie CAD is going to make a pullback. We have the broken ABCD line here, so any pullback to retest this area or close to that should give the green light for further continuation upside, at least towards the 38.2 target. Remember the target we saw before on the 38.2 level and potentially to 50? So pullbacks and Potential rally towards this zone. It also should connect here with the way that the MACD is forming, making one wave. Something like that is very reasonable scenario, and then the MACD also to complete a bearish divergence. So for me, buy the dips on the Aussie CAD is the trading plan. Let me know what do you think about this one. Share with us your thoughts in the. Comment section below this video. That's it pretty much for this video. Once again, I want to remind you, you can enjoy all the amazing offers with 8K Broker, including the access to the live trading room project, which will start very soon. Use the link below this video in the description to join and enjoy. And I want to take the opportunity and to thank you for watching and for supporting back. If you find value, please don't forget the like button And to subscribe to our channel if you are new to the channel with the link with the subscribe button below this video in the description. And I want to invite you to our trading family, the Home Trader Club, where you will get your access to the comprehensive complete trading courses, comprehensive full advanced media section where media zone where you will find tons of webinars, live trading sessions we have on weekly basis, community access. Real-time trading education, real-time opportunities, and so much more. Join our family with the link below this video in the description, or with the special offer we have with Atka Broker with the link again in the description. Thanks for your time. Best to you and yours. I'll see you soon with more good trading. Bye for now.
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