Weekly Forex Forecast (GBPUSD, NZDUSD, AUDNZD) - 23 January 2023

Hello traders, how are you? Happy weekend. Vladimir here from Home Trader Club, and in this video I would like to share with you my weekly forex forecast for trading week starting on 23rd of January 2023. In today's video, pound dollar, New Zealand dollar, and Aussie-New Zealand, Aussie-Kiwi. 3 very interesting opportunities I find, and I would like to explain why. But before we start talking about the technical analysis and the reasons behind these trades, I would like to ask your support and your help. If you find this video useful and you appreciate the trading opportunities and this video, please hit this like button below this video, subscribe to the channel and leave some comment and feel free to share this video with anyone who you believe can benefit by watching it. Now let's talk about the first pair, that would be the pound-dollar. By the way, there are several very important news to pay attention to this week, and it all starts on Tuesday with the important news coming in Britain. And we are talking here about the flash manufacturing PMI and the services PMI Then we have the same in the US with flash services PMI, CPI in New Zealand and in Australia. On Wednesday, we are going into the cash rate decision, the overnight rate in Canada, and then the monetary policy report and the press conference. Of course, the advanced GDP in the US on Thursday, and Friday, the core PCE price index Pay attention to this one. This is really important one. So on the pound dollar, after a massive move down during 2022, during the busy summer, I would say, in 2022, and riding more than 20 candles on the lower Bollinger Band, the price reacts massively and impressively. To the upside. Now here are the interesting things. Pay attention to the levels the pound dollar is reaching. Besides making almost straight move from the lower Bollinger Band to the upper Bollinger Band, uh, pay attention to the key levels. Okay, so on this move up on the pound dollar, we have here 2 important highs. On the move down we have this supply area which creates a massive box for us. Okay, now the interesting part here besides that— let's just remove these lines and put right here, put the rectangle— that puts a very interesting thing together with the Bollinger Bands as we are completing almost straight uh, move from band to band, and within 50% deviation of the whole movement, the price usually tends to slow down and creates the reversal. So this is the box that, uh, I would be paying attention to. By the way, if you remember, I was covering a couple of weeks ago in my weekly video the pound-dollar long by breaking this high. So as soon as we got the high and retested it, the pound dollar gained a massive momentum. This momentum is still ongoing. However, again, remember and keep in mind this key zone, okay? With the news coming out, and look what also happens, uh, here on the daily chart, okay? We are about to complete 3 clean waves upside with a bearish divergence on the moving average of the MACD. As soon as the pound dollar getting close to this zone, I believe this is where it will start topping and slowly, slowly, slowly create the opportunities to go sell. So on the short term, I believe there is more momentum to the upside, but with this daily divergence building up and the key levels coming on the weekly chart, start to pay attention to slowdown signs and then look for possible short-term sell opportunities. By the way, if we go to check the statistics of the pound dollar, then here is what we will find. Pay attention to these days, okay? At the end of the current week, the 26th, 27th, historically the pound dollar likes to create tops. Okay, so if the technical scenario happens, okay, and we go and climb to this zone, okay, I would pay attention to these days as it might top, complete the daily divergence we just saw before, right, and start the, uh, opportunities to the sell direction. Let me know what do you think about the pound dollar in the comment section. Do you think it would be able to reach the 126, 128 zone before the correction, or do you think the correction down would already begin before reaching these levels? Share your views, your inputs in the comment section below this video. Next one would be the New Zealand dollar. Another fantastic move, technically almost the same like the pound dollar— straight move from Bollinger to Bollinger. Okay. Almost reaching the top one, which again, as I explained before, usually within 50% deviation of the whole movement, the price tends to top and make the correction. Now taking that into consideration, let's analyze the weekly level. So there is a key supply area right here of the bearish move, and from the bullish move This is the most recent high. This creates a key zone for us, okay? I would say a key supply area. If we plot also falling resistance line there, you will see how strong this zone becomes. And that's where I think it will be interesting. Let's go to the daily chart and you will see how well it builds. So bouncing off, you can see for a while it was dancing right here around this key volume profile zone, the balance zone. It was dancing, dancing, dancing until the buyers really managed to take the control and make the push upside. I believe that this push should take us with inside this box close to the falling resistance line and classical levels that we have here on the supply area. Pay attention also to this broken support that is now is using as a resistance, and you receive here a key zone. So on the short term, I believe this push with the momentum should continue, and from there, once we are in, I will be looking for this bearish divergence to complete, which means the price to create the higher highs and the MACD indicator to create lower highs, uh, and start building up bearish evidences. So the price goes inside, and I would start looking for the bearish evidences like the turnaround of the structure of the candles, making lower highs, lower lows. And on the lower time frame, we can start seeing signs like false breakouts, for example. Okay, something like that. Okay, a false breakout, fake high and then lower lows, which cause usually sell the rallies afterwards. So the New Zealand dollar also enjoying the bullish momentum still. However, the levels mentioned, uh, the falling resistance, the supply area, everything there leads to the same conclusion that buyers are likely Uh, to, you know, start losing their grip over this pair, start losing the control. And inside this supply zone, I would not be surprised if the sellers will start taking the control. What do you think about the New Zealand dollar? Will we cross above 0.6550, 0.66 during this week, or it will take longer before the turnaround starts to happen. Share your inputs in the comment section. And the last one is the Aussie-Kiwi, which I also find interesting mainly for the short term. Let's talk— start with the weekly and see what do we have. First of all, a massive bounce of the rising support line. After that, look at this price behavior— several weekly candles in a row Making the bullish move. Now, do you remember what I said before on the about the pound dollar and the kiwi dollar presenting the Bollinger Bands? Look what happens here with the Aussie Kiwi straight move from the upper Bollinger Bands to the lower Bollinger Bands within 50% deviation of the movement. The price managed to create the bounce and move upside. Now it started a bit lower. I personally was anticipating it to start somewhere. Here it did go lower, uh, slightly, but the rally indeed take place. So with the weekly levels in play, here is what happens on the daily chart. So after this, the bounce from the demand area we had on the weekly and daily lows, the price manages to start building several highs in a row. You can see it here. Classical structure of higher highs, higher lows. At the moment, we are building beautiful correction, and usually such corrections tend to stop within the supportive area. So we had the resistance here; it becomes a support. The lower Bollinger Bands in the moment, and then we are very possibly to create here a bullish hidden divergence. Higher lows on the chart, lower lows on the indicator in the histogram, MACD histogram. So from this zone, I would be looking to, to find bullish evidences and the price to rally. What evidences I want to see here? Mainly the 4-hour chart to go and complete its bullish divergence. Okay, I want to see the bullish divergence completes here price starts to react again from making the lower highs, lower lows, start creating the higher highs, higher lows, and then looking for my opportunities to buy the pair. This one is mainly for the short term, so could be very relevant in the coming week. Remember the news we have in Australia and in New Zealand this week? This news should contribute Potentially to this movement, and it could provide a very interesting opportunity on this pair. What do you think about the Aussie Kiwi? Is it likely to bounce from around 107.20 down to 106.40? And how high do you believe this one can go? Let me know what do you think about this one in the comment section below this video. Video. So that's it for this weekly forecast. I hope you find it useful. If you have any questions, don't hesitate to ask in the comment section below this video. And thank you very much for your time watching this one. I invite you to join us in our trading club, the Home Trader Club, with the link below this video and enjoy the best offer we have for you, as you can see on this very image. So once again, thanks for your time. I wish you a wonderful trading week ahead. Best to you and yours. I'll see you soon with more. Bye for now and good trading.