Vladimir Ribakov forecasts selling rallies across major pairs and commodities. Middle East tensions are reducing Fed rate-cut odds, supporting the dollar. EUR/USD targets 1.10-1.11, GBP/USD heads toward 1.30, gold retests 4,000 before potentially falling to 3,400-3,500, and the S&P 500 faces broken resistance.
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Hey guys, Vladimir here from Home Trader Club. Welcome to the weekly forex forecast. The market is moving and the market is scared. The ongoing war in the Middle East and the potential impacts it will have on the economy fears the market. The market is afraid of that. We can sense that, we can feel that, we can see that. Now the odds that the Federal Reserve would be able to cut the rates actually drop, which strengthens the dollar. And the question is, how long will that go? As long as the war is here, the pressure is here. So let's take a look on the opportunities we have. For this week, but before the chart, I have some very, very, very exciting news for our community. Recently, on the last several months, we've been working to create phenomenal opportunity for our followers. We trade with AvaTrade and we partner with them, which means for you, if you trade with AvaTrade, you can get access to Home Trader Club, unlimited access, enjoy all of our products, our real-time trading opportunities, our courses and Trade Copier, a new feature we are adding to the club. It started to run recently, so you have the opportunity to enjoy all that free, absolutely free, if you trade with AvaTrade. If you don't, follow the link below this video in the description and get your access to the broker, get your access to us. Follow the steps below this video in the description. Let's start with the euro dollar. So the last time, on the last weekly forecast, I shared with you my view that we should be reaching this zone, bounce from there, and after that I do expect the euro dollar to push lower. My view did not change at all. How it will play? Very possible scenario, the euro pushes beyond that area to clean this low, maybe even lower down to 110. 111 zone. It might first of all, of course, try some ABCD or some range here before the push downside. But as long as these volumes on hold, I believe the euro-dollar direction is bearish, and I think it should clean the daily low of the 114 area and then possibly to reach 111, 110. Next one, pound dollar. On our last weekly forecast, we were talking about the expectations of some pullback there and continue down. What happens with the pound dollar is that exactly, and I don't think this is a done deal. I believe the pound dollar should clean this low or at least to retest the low here on a daily chart around the 131.50. But with high probability drop down to 130. And that to me means also look at this volume profile zone, very, very strong area. And that to me means any pullback here should provide further drop to the downside on the pound dollar. What do you think about pound dollar and generally the market and the dollar itself? Let me know in the comment section. Let's talk about the gold. You remember the last time we had the weekly forecast, we were talking about this range right here with the break below that it should open the door for further move down for the gold to drop to these levels. You can see how well the gold followed this plan. The question is what's coming next? Is it over? Personally, I don't think so. I think every pullback here should lead to further drop to the downside. I believe that the gold could and should retest the zone of 4,000 and lower. And by ideal for the long run, there is a great chance we're gonna see the 3,400-3,500 once again. So for me, it is sell the rallies on gold. Share with us in the comment section, what do you expect from gold? Let's talk about the S&P 500. Quick reminder, what did we discuss on the last weekly forecast we've had covering the S&P 500? The expectations we've had were to see the S&P pushing down to these key levels. The bearish momentum is still here. The first low is cleaned, the next low is yet to be cleaned. And I don't think it is over. We can see the weekly broken resistance is most likely going to be retested, and for longer run, we have this massive rising supportive line on the weekly chart, which with high probability should be retested as well. So from my point of view, it is still sell the rallies. I don't see at the moment anything different. For the S&P and the markets. So as always, I hope you find value in this trading opportunity. Quick summary: sell the rallies EUR/USD, sell the rallies GBP/USD, sell the rallies gold, and sell the rallies S&P 500. That's my personal view. What do you see about these opportunities? And generally, let me know what do you think about the markets in the comments. And once again, quick reminder, if you trade with AvaTrade You can get your access absolutely free for Home Trader Club in unlimited way. Follow the link below this video in the description with all the steps. Thanks for your time watching. I wish you wonderful trading week ahead. All the best, and I'll see you soon with more. Good trading. Bye for now.
