Forex Weekly Forecast | USDJPY, EURUSD, GOLD, NASDAQ | 11 December 2023 - By Vladimir Ribakov

Hello traders, how are you? Vladimir here from Home Trader Club. Welcome to the weekly forex forecast. In today's video, several amazing trading opportunities. Some of them we were following in the last several weeks, and I updated you on the last weekly forecast and I want to follow up on this opportunity and see what is coming next. Ready? Let's begin. Before we start, I would like to ask your support. If you find value and you appreciate this video and the trading opportunities I share with you here on the channel, please hit the like button. Feel free to share this video with anyone who you believe can benefit watching this video. And also, if you are new to this channel, please consider to subscribe with the subscribe button below this video. So the first pair I want to start with would be the dollar yen. On the last several weeks, we were following for very specific conditions one of my favorite trading strategies, and that's the false breakout reversals. When it comes to the end and the market is making fake highs, making it under condition of bearish divergence where the market makes higher highs but indicator MACD in that case Makes lower highs. That's one of the most powerful technical conditions happening. After that, when the low is broken and the recent trend line is broken, usually a corrective wave or a trend change begins. And that's what happened with that dollar yen. We got one fake high, second hand, second fake high under bearish conditions when the market was making the higher highs but indicator making lower highs. Beautiful bearish negative divergence on the MACD moving averages. The most recent rising supportive line was broken, the most recent low was broken, and all the rest is history. So what is next with the dollar yen? So for a very long term, I am a bit uncertain at the moment, but on the recent week we saw a lot of speculations moves, uh, and basically due to the recent speech of one of the financial leaders there and also the expected conditions by the investors. And by saying that is with the recent news, the market is anticipating that the Fed will stop and eventually start— will stop raising the the rates and eventually start dropping the rates. And on the other hand, there is a chance, 20%, 30% at the moment, but increasing chance that the Japanese bank could actually go and increase it yet, and therefore the moves. The biggest question is what's next. So again, on the long term, I am a bit uncertain at the moment technically speaking. However, on the short term, Here is a very interesting condition. So the very first supportive rising supportive line was not yet broken. The second, I'm talking about the most recent trend line. Yeah, the second one was, and I believe that this current rally should provide the open the doors for the next drop down towards the next key level. And that's somewhere around 140. Now, if we take a look on the technical analysis, what happened is this was a very important low that was broken, and now this low is broken, and this low is broken. All these lows I mark here are the lows— let me just remove this thing for a moment— all these lows I mark here are the lows of the most recent bullish wave. Which means the highs prior the the lows. That's a high. That's a high, right? This is the first zone. Same here, and then the final one is here. These highs are highs of interest. As soon as we come close to them or retest them, very possible scenario is the sellers will reject. Okay, because in that place sellers. Tried to take control and rejected by the buyers, tried again and rejected by the buyers, tried again and rejected by the buyers. And now when the trend flips, these levels are the zone of interest of the sellers, and every rally towards these zones should be considered as a further short-term bearish continuation. Also, one of the technical conditions I love the most is the Bollinger Bands move from band to band. Especially when it happens on such conditions where we are riding on the upper or the lower Bollinger Band without retracing to the opposite band. And here we were riding on the upper band for over 20 candles during the week. It touched the bottom of the weekly Bollinger Band, but if you take a look on a higher time frame, there is theoretically speaking much more room. And that's why I'm not sure yet that for the long term it's a bearish trend at the moment. But there is a very good chance that it starts to develop something, and that that's why for me sell the rallies is the plan here. Let me know what do you think about the dollar yen? Are we going to 140, maybe even 135 from here, or that's it and we are back to 150? Share with us your view in the comment section below this video. Before we continue, big thanks and thumbs up to Etka Broker for supporting me, my community, and this channel. Enjoy the special offers we have with Eightka Broker with the link below this video in the description. The next pair I want to cover is the euro dollar. So on the recent video I published on my channel, I was mentioning that we are now next to a very important level or zone, we should say, where once we figure out this scenario of rounding bottom on a short term. We should be looking for buys. And why is this zone so important from my point of view? So if we go to the daily chart right now, the I would say the analysis for a long term is a little bit uncertain. From one side, there is a great probability that the euro dollar eventually would try to do something like that before anything else from. On the other side, there is a very good probability that the euro dollar is building here some sort of a range before further continuation now. So I'm not going here to trying to figure out the long term; it's more in the short term with daily levels and four-hour chart setup. So here is what I see on the bearish move down, right? There were several lows that were created by the market. The first low is here, which was retested. The next one is basically here. On this current rally, the first supportive line we have is basically connecting these 2 lows, and the combination creates for us this trading zone. Okay, if we take a look, this is also the zone which is in between the 2 moving averages here The 50 and the 200. Okay, this is my 200 and this is my 50 moving average. Okay, this is a pretty much good healthy balance zone. And many times when the moving average basically crossing each other— let me try to show you what I mean here— like here cross and then for a while it's holding in between. Okay, cross And then for a while holding in between, and right now we are again in between after the cross. So that's why the longer term is a little bit uncertain for me at the moment. However, on the short term, the zone we just saw is here, and this zone is pretty much serious. So this was the rising supportive line. That's the demand areas of the from the daily chart. And it's also broken. Take a look what happens in broken resistance, active support, broken resistance, active support, broken resistance is now being rejected and potential support. All that is a major zone. So I want to see here the rounding bottom with the condition of lower lows on the chart, higher lows on the indicator, ideally moving average of the MACD and RSI together, and from hit from there Short-term rallies, okay? Towards the previous importantly created swing highs here all the way. Okay, so this is my view on the short term on the euro dollar. What do you think about the euro dollar? Short term bullish or massively bearish to continue all the way to 105 and lower? Will that happen this year? Let me know. What do you think? In the comment section. Next one is gold. So on the last several months, for those of you who follow the channel, we were talking about the gold and with the expectation of that to make all-time high. That could be 2100, 2200, maybe even 2300. The 2100 was cleaned instantly at the beginning of the. Of the week. And since then, a major drop down of over $100 per ounce. Now here is a very interesting thing. On the long term, on the monthly chart, this is a huge potential divergence and huge potential reversal sign. Okay, on the weekly chart, we are facing exactly the same. The last leg of the monthly chart is building these waves and a bearish divergence. The other interesting part is the daily. And if we go to the daily, surprisingly or not, the last leg of the weekly chart creates waves on a daily chart with the same conditions: higher highs on the chart, lower highs on the indicator. That screams potential reversal signs. However, None of the important lows, not the daily, not the weekly, was not yet broken. And we do not yet have the waves, something like that, that verify a trend change. Therefore, we cannot yet, just because all-time was created and just because there is potential divergence, we cannot conclude that the top of all time is here and the trend changed. With that in mind, there is a great possibility that this zone will act as a short-term buy. Again, the long-term is not yet completed, and there is a great possibility that the short-term will provide buys. And if we drop to the 4-hour chart, we, we just saw the key levels, right? So we have a huge volume profile-based, uh, balance zone here, and we have the daily and the weekly key levels from the balance zone as well, and the demand area from the daily chart. This zone is a zone where these waves could actually go and slow down, and short-term buys could be created And again, while the long term is at the moment uncertain after the all-time high was created, it's not yet fully obvious and clean. Will the gold continue even beyond the current high, or it will slowly start to create reversal signs for a long term? And because the long term is not yet clear in terms of the technical analysis, let's enjoy the shorter opportunities. And the shorter opportunities are right here: first zone and second zone. From there, what I'll be looking for is bullish divergence. Okay, I want to see the market retesting these zones, making rejection signs and holding it, candle patterns to start and Make the reversal signs, bullish divergence where the market makes lower lows, indicator makes higher lows, and from there go and look for the short-term buys. What do you think about the gold? Did we see the all-time high? Is it about to crash? Or, or the all-time high is yet to be created one more time, or maybe even further and beyond that? Let me know what do you think. In the comment section below this video, and the final one I want to talk about would be the Nasdaq. It's pretty much similar with Nasdaq and the S&P. Just choose the Nasdaq here because we discussed about it again several weeks ago on one of the weekly forecasts, and I want to follow up on that. So what is happening here? The way I see that the DAX is DAX sorry. The Nasdaq is coming to the very, very, very critical zone. So first of all, we have here the zone of sellers where massively here for three months in a row during 2020 it was holding and then the crash. Okay, so at that place there are lots of sellers. They were holding this level and rejecting the buyers for three. Months. I believe that this zone should be actually retested, and there is a chance we will even try to make an all-time high exactly like, like happened to be in gold, with this divergence to complete, and then a massive major correction will take place. Now, while the monthly chart is forming and structuring itself, if we drop down to the weekly chart And plot these levels. Take a look what we will see. Okay, so this is the 261. Take a look where the 361 is. And if we plot on the second leg, take a look where the 61.8 expansion would be. Ta-da! Right here. Oh, there is— and all that happens to be where? Next to and slightly higher than the Major sell zone we discussed. So I believe that this all the indices, okay? Nasdaq, S&P mainly with the same analysis are going to go to complete these wavings, to complete the divergences exactly like with the gold. Same story, okay? With monthly, weekly, and initially or you know to start with at daily. And if we drop to the daily chart, these are the recent waves. So here we were talking about buy the dips, as you might remember. And then on this part, this was one of the recent analysis here. We expected the correction and then continuation. And this plan remains the same. I expect that to go and complete this divergence to go and complete itself, higher highs on the chart. Lower highs on the indicator, and from there, the closer we get to this key zone mentioned, I believe a major sell will build up. So on the short term, the bullish pressure is still here, and I believe it's yet to complete the highs before major trend change will likely take place with the synchronization Of all the higher time frame, as you just saw. Will that lead to the crash of 2024-2025? As so many gurus they say anticipate and expect. Time will tell. But technically speaking, these zones are critical. I believe we are going to retest them, build bearish conditions there. And from there, a sell is likely to take place. So that would be it for this video. Big thanks to you for watching this video. I hope you find value in it, and please don't forget to hit this like button, share this video with anyone who you believe can benefit watching it and enjoy these trading opportunities. And I would like to invite you to our trading family, the Home Trader Club, where you can enjoy all our trading courses, comprehensive media zone, and webinars. Real-time trading opportunities, real-time trading education, access to the community, and way so much more. Join us with the link below this video in the description. Once again, thanks for your time for watching this video. Best to you and yours. I wish you fantastic, successful trading week ahead. Bye for now.