Gold to $5,000 or $3,500? Forex Weekly Forecast | GBPUSD, GBPJPY, EURGBP, GOLD

Is the inflation back? Will the oil cross above the 100 and 110 this week? Can the euro-dollar go back to 120 under this pressure? And the pound, can that climb to 140? Is the gold going back to 4,000 or it's— there is still a room for 5,000? First of all, so many things happening in the world. Let's break it down and see what's interesting for the coming week. So welcome back to our channel, guys. Vladimir here from Home Trader Club, and welcome back to our weekly forex forecast. As I mentioned before, so many things happening in our crazy reality. The main event, of course, everything happened in the Middle East with Iran, with Saudi Arabia, the Houthis. And the pressure on oil and the pressure on the inflation price everywhere. The world is hiking the rates again. The last to do that was the eurozone. And the chances, the probabilities that the Federal Reserve will actually have no choice and will follow the trend and the pressure, the chances for that, the odds for that increase dramatically. So what does all that mean in terms of the charts? Let's start with the Pound dollar. So you know my view. You heard me talking about it so many times in this channel. I believe that for the long run, the pound dollar has no other path rather than climbing towards the 140, following the waves from the monthly chart. But on the daily chart, the question is where are we going from here? So here is how I see the pound dollar. We have couple of broken levels here, broken trend lines which are now being retested. We also have this rising supportive line, which is important area from my point of view. So in a bigger scale, there is also this major supportive line. So as long as all these—it's wide zone—but as long as this zone actually managed to hold, I believe the pound dollar drops down should be offering further rallies. So the ideal option would be, of course, here once it completes this kind of ABCD, start looking from. Um, there to— for a bullish continuation. On the shorter term, we might see the pound-dollar pressing a little bit further down. As I mentioned before, there is this rising supportive line and the bigger supportive line, and of course these lows on the horizon, uh, that acts as a demand area where the buyers took the control in the recent time. So every drop towards these levels should From my point of view, provide further buys. Will that be enough for the pound dollar to climb to 140? Only time will tell. But the way I see that, this weekly range should, after the pullback, continue further up. And keep in mind, though, that if the persistent oil pressure and the return of the rising inflationary pressure will continue and will remain there. It might postpone the rally of the pound dollar, and the pullback then could be slightly deeper. Like for example, something like that to the lows. We have these key levels, of course, as well, and only from there we will see the rallies. So that's definitely something to pay attention to. And on the other hand, the pound yen. Now you remember we've been talking about the pound yen in this channel, and as I mentioned back then, I believe. That this divergence is about to kick in and we will see the pound yen dropping hard. So if we examine the monthly chart, look where it all happens to be from. It cleaned this high, completes the divergence. We have higher highs on the chart, lower highs on the MACD and the RSI. Classical bearish divergence. Beautiful bearish candle develops here. And so far it looks like it's an engulfing. So the way we have it on a daily chart, lower highs, lower lows. Uh, that's currently no contradicting signs or anything like that. Uh, we do have some oversold conditions, so on a short run this could create the bottom, start making the pullbacks, and from there look for the sell. This mini consolidation here is a major zone. Of course, the broken support acts as the resistance, falling resistance line, so Drop here, climb back to this area, and from there a major sell is most likely to continue. Also, another interesting pair to pay attention to is the euro pound, as we have a falling resistance line and strong supply levels. This was a major support; now it is broken and acts as the resistance. And of course, we have this falling resistance line. So as long as this zone managed to hold, I believe the euro pound is under bearish pressure. pressure. And I think looking for the sell is the right direction here. And where does the gold go? So on the last, uh, videos we discussed here in this channel, we were expecting the gold to push up. I marked these key levels, uh, where I believe the gold is climbing to, where from we should be looking for the sell. So these areas indeed hold and the gold drops. And the question we have now Is that it for the final move down, or we're gonna see classical ABCD here prior the sellers take the control? So it's very, very early to judge with all the changing data here. I do believe for the long run that's what the gold should do, either ABCD or some sort of range here before it will start its run for the next long term. So there are 2 scenarios which I want to follow. We have the rising supportive line and this zone, the low, which is the broken support, acts as resistance, and this broken resistance that now acts as support. Beautiful area here. As long as it holds, gold could actually climb, complete this sort of ABCD, and from there going for the sell. So this is as long as this area holds. If the gold completes a breakout and makes these lower highs, lower lows, then I think sell the rallies here is actually what's coming next. And then I don't have too much doubt that the gold will be aiming back to retest this range around the 3,500, maybe lower, and complete the weekly ABCD. So these are the two critical scenarios I see. Interesting scenarios and the critical levels. Uh, I, as for now, uh, have my, um, bullish view as long as the levels hold. As I mentioned before, very strong zone. We saw the supportive line and everything. As long as that holds, uh, that could actually make a beautiful, uh, rally. But if the zone is broken, then I think $3,500 is the level where we are heading next. That would be it for this video. As always, I hope you find these trading opportunities interesting. If you do and if you enjoyed it, make sure you smash this like button. And if you are new to our channel, make sure you subscribe to the channel. Also follow the link below this video with the invitation to join our family, the Home Trader Club, our courses, our real-time education, real-time trades, and of course the project we have with AvaTrade where you can get your access to our Trade Copier and the membership as well. Thanks for watching, best to you and yours. Let me know what do you think about the markets in the comment section. I wish you good trading, bye for now.