Weekly Forex Forecast | CADCHF,EURUSD,USDJPY,DAX | 5th - 9th June 2023 - By Vladimir Ribakov

Hello traders, how are you? Vladimir here from Home Trader Club and welcome to our weekly Forex forecast. Today we are preparing for a trading week of 5th to 9th of June 2023. Summer is, uh, is here or coming, depends where you are. In the world, weather-wise, of course. And I would like to take the opportunity and to wish you a happy summer in advance. If you are new to our channel, welcome to our fantastic community. And in this video, I would like to share with you four very interesting trading opportunities the way I see them. That would be the euro dollar and the dollar yen, a follow-up to what we started to see on the last week. In the last week. Analysis and the weekly forecast. And if you missed that, you can always find this video in this channel. And, uh, 2 new ones, that would be the DAX and that would be the CAD/CHF, also fantastic opportunities. So the first instrument for this week would be the CAD/CHF. Uh, I'll go to the market trend snapshot, uh, fantastic tool we have in Home Trader Club. And what you can see here is a multi-trend or multi-timeframes or multi-periods, depends how you like to call that, synchronization. A monthly and a weekly and daily numbers are all synchronized. One of my favorite indicators or indications to understand where the wind is blowing and how strong the trend is And you can see here again my favorite style at different time scales of synchronization. So the monthly, the weekly, and the daily are all lined up, which for me is a classical way of buy the dips. Okay, so that— and now I go to the technical part, and for that I want to share with you the analysis. And to be fully transparent, this one is— we already riding from the trade from Home Trader Club. And this is our trading journal we have here, and we are writing that since the beginning of the month. However, I think it's not late to join or to look for opportunities to join and to ride it. So this is where we got involved with, and here is why I believe this is just the beginning. So let me explain. Let's go to the charts and take a look what happens here. For me personally, it's one of my favorite, uh, Technical conditions, starting with the weekly chart. What we see here is that the market was creating three classical bearish waves: three lower highs, lower lows. But look at this condition. Okay, since let me let me show it to you here. So this is the that's an indicator of mine I use on the Bollinger Band. So look what happens here. Since this last breakout, there is a zone of Bollinger Band duplication. Absolutely classical technical condition. Besides that, look what happens here on the lower band of the Bollingers. We are riding for more than 20 candles on the lower Bollinger without any significant pullback. So for several weeks it was flirting with the level and here comes the explosion. Usually this is a sign that there is much more to come on the weeks to follow. Maybe not instantly, but on the weeks to follow. We besides that take a look on this condition while the market is making lower lows. The indicator in that case the MACD moving averages as well as the histogram and the RSI on the last two lows are making bullish divergence. Okay, positive divergence again, sign of a potential reversal. And if I go to the lower time frame, let's just remove that. And if I go to the lower time frame, which is the next one, is the daily chart, here is another classical, uh, technical condition. So first of all, the falling resistance line, and then the most recent falling resistance line. The most recent line was broken recently. Expected after the retest, holding for a while, and here comes the breakout. So very possibly the next level in mind is going to be the next falling resistance line, which in our case falls directly on, as you can see here, massive volume zone from the daily and the weekly time frame, and the previously created beautiful supply zone where the sellers took the control from. Okay, so with all that in mind, uh, for me this is a clear sign of buy the dips. As you saw before, as I showed you, this is where we got involved, uh, in Home Trader Club. Okay, so this is the first zone of action for us right here. We got that holding and we got it moving. And is that the end? For me, the answer is no. Now take a look on the beautiful part here of Fibonacci expansion. If I plot Fibonacci expansion on the first leg versus the first correction, take a look where the 100 is. That would be amazing. This is a previously created 4-hour chart supply directly on 100% expansion. The next expansion level, believe it or not, which would be 161.8, would fit us exactly on the daily and the weekly volume we saw before and the daily supply. Take a look. Here you see how all fit together, and this is why I believe this is yet an amazing one to join and to ride. So any pullbacks to happen— of course, if happens, right? No one guarantees. If it happens, should lead us for further rally. First of all, to this supply area, which I don't think should be, uh, the ending part. I believe that's where the slowdown could take place, then, um, further pullback and further continuation upside towards the levels I mentioned before from supply from the daily and the weekly chart. So this is one of the great technical conditions, um, that I love to see, and it happens right now on the CAD/CHF. And this is why CAD/CHF makes all the way to the beginning of my list for this weekly trading plan. Let me know what do you think about this pair. How far can you, can you see this one going? Share in the comment section below. And before we move to the next one, I would like to take the opportunity to thank Mugen Markets for supporting my channel, my work, and my community. And here is the great update. Recently I teamed up with Mogul Markets. I opened my account, my trading account with them. I enjoy their features and their great options they have for traders, including the PAMM marketplace. More to come, I promise. I will keep you posted in the great news I have on this subject as well. And here is one of the benefits we got for the community. By, uh, with Mogan Markets by allowing the next offer. With the link below this video, you can join Mogan Markets, open your trading account with them, fund it, of course make sure you trade it. And here is the deal I have with Mogan Markets to my community, and big thanks to Mogan Markets of course for allowing that. You can— all the members of Morgan Markets who join, uh, from my, my community can go and choose 3 of the amazing tools I have here for traders. You'll go to the blog vladimirribakov.com, strategies and courses, in-house indicators. Choose any 3 you want, any 3 tools you want. And you get full access to that. Of course, the paid version, you get it free. Any 3 of them, or you get 3 months free access to the Home Trader Club. Okay, 3 full months of access. If you prefer access instead to any of my trading systems like the SRS, Forex BBB, or the Divergence University or anything else, no problem. Again, this is an offer for the community, so whatever works for you, we can make it work. Here's what you have to do: just contact me. Of course, first of all, complete your steps, uh, open your account, fund your account with Morgan Markets. Use the link below because we will have to verify it all comes from the community. And contact me in my Telegram, which you can see right now on this very screen. Let me know your choice of a strategy, the access to Home Trader Club, or any of my trading tools and the indicators we have here, or robots that help you with like risk management or trailing the stop loss, the Stop Loss Trailer Pro we have, which is amazing features for those who, um, amazing indicator actually with features that fit those who love to ride the trend and move or trail their stop losses. So, uh, this is the offer especially for our community. And again, thanks to Morgan Markets for allowing it, of course, for supporting me, my work, and my community. And, um, enjoy, guys. The next instrument would be the euro dollar. As we discussed on the last week in the weekly Um, forecast, and if you missed it, make sure you watch it. We want the euro-dollar to climb to the significant levels, but it's before moving and providing us the next sell opportunity. So here we are making the rally from the beginning of the week and pushing down on Friday right after the non-farm payrolls report was published. It's massive numbers from the US which puts a big headache on the Federal Reserve. Because one of the ways for the Federal Reserve is, well, to see that the job market is cooling down. And as long as the job market is so powerful, so strong, maybe all the interest rates are not so scary as is. However, I believe the numbers will slowly, slowly cool down. Very likely it's all because of the coming summer and, uh, that people think that You know what, uh, that's, that's the new reality. We have to face it. Eventually, I believe it will start to slow down. However, the instant reaction, which I believe is here to continue, is in favor of the dollar, and I believe the euro dollar is yet to go down. Here are the technical conditions we have on the euro dollar. Lower highs created here on these bearish trend. As we can see, we have sequence of lower highs, lower lows for a bearish trend. And if we compare the highs on the chart with the higher highs on the indicator, we get a bearish hidden divergence which hints a trend continuation. However, this question I can, I can see here, is it going directly from here or are we going to see some range or pullback for a while. All the scenarios are very possible here, and here are 3 scenarios as I can see them. Scenario number 1, which is very likely, is yep, we are going all the way down from here to retest the next levels we discussed from the previous weekly forecast. Again, if you missed it, make sure you watch that in the channel. To the previous demand area we have here from the daily chart, which is around 105, and potentially all the way to the next demand area from the previous downtrend, which is here all the way below 104, closer to 103. Okay, so that's the first scenario for the euro dollar. The other 2 scenarios which could happen will not change the trend, just the different wavings as I see them. Is that we will get here some sort of ABCD before the continuation down, or some sort of a range, so zigzagging here, and then the breakout and the continuation to the downside. Any of these waves would be absolutely acceptable from my point of view for further bearish continuation towards the mentioned levels. So for me, sell the rallies on the euro dollar was and remains the plan. Let me know what do you think about that. Bullish, bearish, where from, where to? Share in the comment section. And here are some great news also for the community, guys. As a thank you for your engagement in my work, I would give— I would grant one of, of you who share the video or go and leave the comment section— leave a comment in the comment section, sorry— I would grant one full month's access to Home Trader Club. So you are welcome, of course, and that's a little thank you from me to you for your engagement, for your help and the support in me, my work, and my channel. So make sure you go, you like this video, leave the comment section, leave the comment in the comment section, and get yourself an opportunity to get one full month's free access to Home Trader Club. One of you would get the access, and during the week I will contact one of you. So make sure you go and you leave your comment. Now let's move to the next one. The next one is the dollar yen, another one we discussed in the previous week. And here is a quick follow-up. Which we gather. So as we discussed on the last week, what we want is the market to push back to this beautiful supportive zone we have, or slightly lower with the broken resistance that became a support. And from there, let me just draw this level for you guys. And from there to provide us the all the reasons for further bullish continuation upside. So the first level was retested and holding. And here are 2 maybe tricky conditions before the continuation. So first of all, why do I expect it to continue? As right now we see bullish, uh, waves are building up. No signs that it's over. We don't have any divergence. Vice versa, it's a full convergence— or not convergence, but full synchronization— as the price and the indicators are all lined up. So I do expect the dollar yen to go and to reach this classical supply area, which is anywhere in between the 142 to 146. And yeah, there it looks like there is way more to come. So for me, there are 2 ways to join such an ongoing trend. The first one and the ideal one would be if the dollar yen managed to do something like this ABCD or any sort of a range and then break upside and gain the momentum for the continuation. The other option which also could happen is that we establish here some high, create some pullback during the week, and then break upside above the previous high to gain the momentum and to make the further rally. If this is the scenario that will happen then for me it would be very important to validate it on the 1-hour chart by making 3 waves. Right now there are sort of 2 waves building up. One more wave, if that happens, uh, pullback and the break above this high would validate a bullish view for me based on the short-term waves to join the longer term. So if one of these scenarios happen, I would be definitely Looking to add more on the dollar yen bullish direction, which I currently see and have. So I am still bullish, exactly as we discussed on the last week on the weekly forecast. Let me know what do you think about dollar yen, and again earn your chance to get one free month's access to Home Trader Club. All you have to do is to like the video, share it, and of course leave. the comment in the comment section, and one of you would be a great lucky winner. Let's move to the last one for this week. That would be the DAX. So here is the DAX, which still maintains the bullish power. And I believe that analyzing the longer term, we should be able to complete this rally. I don't think that too much left, to be honest. But I do want to see the DAX completing these 3 massive waves, completing the conditions of higher highs on the chart versus lower highs on the indicator for an ideal divergence, and then build up reversal signs. Okay, however, at the moment, the bullish momentum is on. There are no reversal signs. Yes, they are potential, but there are not any at the moment. And here are the one of the 2 scenarios I want to see. The ideal scenario would be if we can go and complete a final rally here where the divergence would make another, uh, high and cross, and from there again reversals and beautiful move down. So with that in mind, for me it is Buy the deeps plan. At the moment we got— we, as you can see, the daily chart, we do have clean bullish trend. And at the moment there are no clean reversals despite the attempt to make the low here. As you can see, it turned to be just a touch. The market never manages to hold below this low, which is still a bullish sign. The bullish trend yet remains on. But here is one of the 2 scenarios I want to follow on DAX, exactly like with the dollar yen. Actually, one of the scenarios is if we get here some ABCD or a range and then go with the breakout all the way to all-time new high. The other scenario, which also is very possible, is we gain here some rally, bounces back, right, and then break above this high to go and create another final rally. I can easily see here the connection of the previous highs going and behaving as a potential first target zone. So for me, I am bullish on DAX and very likely other of the indices as well, as it could be also a popular A question. So what about the American indices? I think it's the current pressure is yet here. I don't know if it's for long, but the current bullish pressure is yet here. There is some sort of excitement from how stable the job market and generally the market, despite of all the interest rates. And the pressure and the talks and discussions about a recession. For me, it feels like some sort of bubble. I might be wrong, of course, but with the current momentum, we cannot argue. And the current momentum is yet bullish and remains bullish. So I believe the German DAX has yet a bit more to offer. And for me, this one is Bullish. So that would be it for this video. Thank you very much for watching. I hope you find value in this video, and if you do, please show your support back. Hit this like button below this video. If you are new to our channel, please consider to subscribe with the subscribe button below this video. Any feedback like a comment, share, or anything else would be much appreciated. Thank you very much in advance for. Your help and support in my work and my channel. I wish you and yours all the very best and successful trading months ahead, and I invite you to join us in our trading family, the Home Trader Club, where you will get your access to our full, full comprehensive trading courses, both beginners and advanced, to a very, very comprehensive media zone full of webinars, live trading sessions every single week, real-time trading opportunities, real-time trading education, our community, and so much more. Join us with the link below this video in the description. Once again, thank you for your time. Best to you and yours, and I'll see you soon with more. Bye for now.