Forex Weekly Forecast | USDJPY, GOLD, EURNZD, RIPPLE | 13 November 2023 - By Vladimir Ribakov

Hello traders, how are you? Vladimir here from Home Trader Club. Welcome to the weekly forex forecast. In this video, I would like to share with you several very interesting opportunities, uh, the way I see them. And let's begin. Before we continue, big thumbs up and thanks to Adka Broker for supporting me, my channel, and my community. To enjoy the special offers I have for my community, thanks to Edcap Broker, please refer to the link below this video in the description. The first pair I want to talk about would be the dollar yen. So in one of my recent videos, I on a weekly forecast, I shared with you my view that this pair should go and complete fake highs, right? Attempt to make a high. Which will fail and eventually the market will make a big turnaround. As you can see right now, the market is making the highs and the first attempt turned to be fake. Okay, now I want to remind you why I'm specific— I'm specifically looking here for, uh, this, uh, major— let's just remove these lines— uh, for a major turnaround of events because the way I see that We are completing here three waves of the rally, and as soon as this divergence completes itself, while the market making the higher highs and indicator starts to make lower highs, it's a question of time until a big move down will take place. Besides that, the technical conditions on a Bollinger Band also suggest a key moment at. That zone. Take a look what happens here. The pair is riding over 20 candles on the upper Bollinger Band without any significant pullback towards the opposite band or lower. Last time it happened was here, and we all remember what happened afterwards. Okay, 2,000 pips move down. And the same scenario, I believe, eventually will build up here with the dollar yen. And this one has a lot of room to the downside. If we go to the weekly chart, you would see the absolutely same situation on the Bollinger Band. Okay, we are riding on the upper Bollinger Band without any significant pullback. Last time it happened was here, and even though it took one more rally before the turnaround happened, but the turnaround was huge all the way to the downside. And again, I believe right now by completing the final leg, that's what should happen with the dollar-yen as well. Now take a look on the numbers. If we take a look on the market trend snapshot, the great tool we have inside Home Trader Club, take a look on the dollar-yen, how the numbers start to shrink from a very, very major control over a month to slightly above 1%. 7 days below 1%, 24 hours even less. That's a sign that the momentum starts to shrink, the grip of the buyers is losing, and it's a question of time before this actually turns around. And it could happen any moment. That's why it's important to be prepared. It doesn't guarantee it will be this week, maybe a week after, maybe a bit more after, but You have to be prepared for that moment because once it hits many times, it hits fast. We all remember what happened here, right? End of 2022. So if we go to the daily chart, daily chart starts to make the structure of the lower— sorry, fake highs here, right? First attempt to make a high turned to be fake, a high with Immediate instant return to the downside, and now another attempt for the same situation. So what we want to see here is basically exactly as described: fake high and a pullback. Okay, another false breakout. Okay, break, return, and hold below the broken high. Once that happens, this is a fantastic sign that sellers are very likely taking the control. Now very important to make sure that this will be a divergence, okay, which means higher highs on the chart, lower highs on the indicator. Once it does, there are 2 ways to work with that. The first one is of course the last low. We want to see the market breaking below this low and then sell the rallies become the trading plan. But there's also another Or more, let's say, less popular, more risky, but it could happen. And sometimes what happens here instead of false breakout is a final run, a final rally, fast rally, which immediately goes as a V pattern, V shape, then some pullback and a fast drop like here, for example. Okay, fast rally to complete the divergence. Instant drop, then some sort of a range, and then huge massive move down. We cannot predict which of the scenarios will happen. If that completes a straight final rally, wait until the weekly daily divergences will start to complete. Wait for the first major leg, and then with the pullback, look for further sell. Okay, so this. Is the bearish trading plan I have on the dollar yen? Let me know. What do you think about this one, and what would you expect from this pair to do on the coming week, maybe weeks? Share with us your thoughts in the comment section. The next one I want to talk about would be gold. So what's next on gold? What are the key levels? The lines you see here on gold, ignore them. That's just lines of targets. For trade I shared in Home Trader Club. We were in a sale. We are still in in a sale with since the beginning of the week with 23.6, 38.2, and 50 as the ideal targets of Fibonacci retrace from the whole trend. And the reason for this trade just will share with you even though it's irrelevant for this video. It was a zigzag setup: two waves down, two waves up. With a breakout. As soon as we got that, we got an okay to go. So here is the gold right now. Okay, ignore the lines. Uh, even though the drop is here, drop is happening on the short term, for the long term I still believe gold has a great potential to go and complete all-time high. On the short term though, we might see Some trickier movement, something like that before it happens, or maybe even deeper two waves to the downside before the next rally. So the long term is not here. There is no setup for a long term at the moment. However, on a short term there is, and there are two very important levels I want to pay your attention to, and these levels are right here. Okay, so first of all, this major demand zone where the buyers took the control in the previous move down. Okay, so this is the first zone. I'll just put the line here. Yeah, and the second zone, and also very important to mention, pay attention, this is right around the 50 to 61.8 Fibonacci expansion of Fibonacci retracement of these Movement. Okay, but the second level, the very important level from my point of view, is basically here where the buyers took the control, then the sellers tried to reject just to get this explosion to the upside. So this slightly below 61.8 is another key level. So here is what I want to see. Let's mark these levels and I want to show you my Trading plan basically. Okay, these are the levels going down to the four-hour chart. As we can see right now, the pair starts the pair. The instrument starts to create some potential bullish divergence. But before the bullish divergence, it's a clean structure, trending structure of sequence of lower highs, lower lows. Okay. Now, if we get this bullish divergence completed. On the first zone in between 50 to 61.8, right? So basically something like that. Fantastic, we have a buy opportunity. Another possible scenario is the market continues, no divergence between these 2 lows. However, it will do something like that, okay? And then basically one more Drop down, pull back from the mentioned levels, final drop down to make lower lows on the chart versus higher lows on the indicator. And from there, the same key levels I just showed you on a daily chart, looking for this bullish divergence and potential buys. Okay, so long story short, the 50% Fibonacci of the 4-hour chart cycle Down to 61.8 and the demand area, the buyer's area I showed you before from daily chart. These are the zones to look for bullish evidences. And what I want to see here is the condition of lower lows on the chart versus higher lows on the indicators. MACD moving average ideal. It could be also done by the RSI. And from there, I'm I'll be looking for short-term buys. What do you think about the gold? Are we going for a major crash, or do you think it was just a correction before buyers take the control again? Share your thoughts in the comment section. Next one, EUR/NZD, which I believe has a huge potential. But before that, I would like to ask your support. If you find value and you appreciate this video and The other videos I upload for you in the channel, please hit this like button. If you are new to this channel, please consider to subscribe to our channel and just remember to enable the notification so you know when there is a new video available for you. And of course, big thanks and thumbs up to you for taking the time, supporting and helping. Let's continue. So the way that the Euro New Zealand behaves right now makes me think That this structure should go and complete the final rally. Okay, ideally towards this zone: 261.8 Fibonacci expansion and 61.8 Fibonacci expansion of these legs. First leg with 261.8 Fibonacci and second leg with 61.8 Fibonacci. This zone would be ideal. But even if we don't pay attention to Fibonacci's, look at all this area right here slightly before the Fibonacci's. Where the sellers started to reject the buyers. Buyers were in major control, and then for the sequence of 3 weeks in a row, every time buyers tried, sellers rejected and rejected big time, leaving all these spikes. This is a key zone, and I believe EUR/NZD is going to try and to complete this final rally there. Before a major turnaround takes place. With this idea in mind, let's take a look on the numbers of the trend snapshot we have in Home Trader Club. Take a look on the major control of the month, next to 3%. It takes time before such trend change. Yes, 7 days and 24 hours don't represent much, but the one month At the moment does not leave any sort of a doubt. So for me, it's pretty straightforward. Take a look on the months, you would see that major rally on the last 30 days. So take a look what I believe is going to happen here on the EUR/NZD. We saw the weekly chart also, and on the daily chart After the sequence of lower highs, lower lows here, we break the pattern making the higher highs and now higher lows, which makes me think there is more to come. How do I plan to trade this one? Going down to 4-hour chart to find the setups. Here we are on the 4-hour chart. Okay, so we've had a bullish run here, then 2 corrective waves to the downside and what seems to be at the moment renewed momentum. So such cases have 2 setups usually. One of them is basically back to control, making the higher highs, higher lows, breaking this line, and then buy the pullback. Absolutely classical. It has a big room to the upside as we saw. Could be amazing setup. The other option is in this zigzag structure to get something like that. Okay, some pullback to complete two waves correction here: one, two, or a range, which means something like that, and then a major rally towards the mentioned levels from the weekly cycle. Which waving the market will choose to follow, it's impossible to predict. This was very important to put both lines in play. And the way it will— it should look like on a daily is the following: something like that, pullback and major rally. Or as we discussed now, the second option is some sort of a range correction and then a big rally to take place. Okay, so long story short, for EUR/NZD, for me, this is buy the dips. I expect from this pair to deliver— so something like that, yeah— to deliver a big rally towards 61.8 and to 61.8 Fibonacci expansion, or at least to this major spiking zone we have here. Another important thing to mention, this zone is getting close to the 190 round number, psychological number, and very, very, very possible that the buyers will take this control towards this zone until, uh, with this bearish divergence would go and complete itself. And the final one would be Ripple. After some fantastic recent news from Ripple, which seems to be like they are slowly, slowly but steadily expanding worldwide, globally, after the win over the SEC, it looks like Ripple is a sort of safe asset to go and to buy and to hold, at least at the moment. The technical part supports this assumption. And what I love on Ripple, that after the big drop we experienced during the summer after they, uh, their win over the SEC, this supportive line that we've had before is holding. The $0.40 up to $0.50 becomes to be a major supportive zone, and it's holding. Several times in a row. Okay, and the beautiful part is that after the this range was broken, the instrument actually go and takes here a major rally, which makes me think buy these dips should be and again safe opportunity expecting it to rally to at least of the previous high of this year very. Very potentially even more. So the two zones I am looking at: first one is this little ranging before the final explosion, and the second one is this range that happened to be right after the broken resistance. These two levels are key, and as long as they hold, for me, I am looking to buy these dips with bullish. Evidences again as long as the 0.50, 0.40 zone is holding. The way it looks right now, Ripple has a real legit potential, and if there is a good risk-reward opportunity technically speaking, for me it's a green light to go with the, with the trade. That would be it for this video. Thank you very much for your time watching this video. And I would like to invite you to our trading family, the Home Trader Club, where you will get your access to our full comprehensive trading courses both for beginners and advanced, comprehensive media zone, real-time trading opportunities, real-time trading education, access to the community, and so much more. Join us in our trading family with the link below this video in the description. Best to you and yours. Once again, thanks for your time. I'll see you soon with more. Good trading. Bye for now. Bye.