🎯 Weekly Forex Forecast | EURUSD, GBPUSD, USDJPY, AUDUSD, XAUUSD OIL (26/02/2024) Supply And Demand

we had a great week trading as a team here's  a few trades that we caught this past week now let's get into this Forex forecast all right  starting the weekly Forex forecast off with the US dollar the dxy here as you can see a pretty  nice reaction off of this little drop base drop selling area uh that I pointed out last week uh  so we have seen that move down we did we do have a red weekly candle here as we look at the dxy  weekly chart so clearly some Supply is taking into control here so are

we going to see the push  back down to demand down to 101 below 101.5 um so far I mean we are seeing signs that we could be  going down although on the daily chart here you can clearly see we do have this daily demand Zone  that is currently in control you can see a huge Wick from this area of demand uh all the way back  up to like the 104 areas uh on the dxy and this is a daily demand Zone that I pointed out last  week as well so so so far seeing a nice move off of that daily demand Zone but as

we look at the  4-Hour chart here you can see from a while ago we do have this pretty clean looking upper trend  line here uh on the dxy and we actually came into contact with the trend line clearly spiked below  it and that's when we spiked right into that daily demand Zone and kind of some manipulation here  if if you're asking me uh but currently the the 4-Hour trend line is still holding um so as long  as this is hold and I guess you could be looking for Longs especially since that daily de

mand  Zone uh is now in control on the dxy as well and something significant actually took place  here on the 1hour chart as you guys knew we had a beautiful picture perfect 1H hour downtrend  uh we actually broke through some Supply creating demand at 10373 we have not hit this Demand yet  but another significant event has taken place where okay there was some sort of manipulation  here above the trend line but we've officially broken this trend line so that is a decent amount  of evidence to s

uggest we could see some strength here in the dollar along to go with to go with the  fact that the daily demand is in control as well it actually increases the odds of price going up  now whether or not we go up from here or we pull back down to this daily demand uh down to this  1hour demand at 10373 first and then react that is for another discussion but uh I think either  or is possible and look I could be wrong right that whole daily demand Zone could fail and the  dxy could really really d

rop that is definitely possible but until this 1our demand zone is  removed I will be kind of bullish on the dxy uh it doesn't mean throughout this video I won't  point out um shorting opportunities on the dollar I like to point out multiple different situations  for people who are bullish and bearish so I would not really be super bearish the dollar like I said  until this 1hour demand Zone can be removed and to kind of summarize uh the big the next question  really is are we going to pull back

down to 1 hour demand first and react or are we going to go  up uh right away so uh with that 1H hour downward trend line broken I think we could see some uh  upward pressure here on the US dollar all right on to the forecast for the EUR Us doll and by  the way every like helps for this video because all the ad Revenue uh from these weekly Forex  forecasts is donated to my local hospice so if you want hit that like button subscribe if you're  new to the channel would be much appreciated so look

ing at the daily chart here of the Euro we are  still sitting uh basically in the middle between Supply uh and demand so there's not really a whole  lot to go off of although demand is technically in control here uh as we look at that daily chart  and on the 4our chart we did get a significant break of momentum we broke above this trend line  currently reacting off of a 4-Hour Supply Zone had the Zone on my charts for weeks now um so the  move from Supply to demand Could Happen down to 1 07 if y

ou are bullish the Euro I don't  really like getting in long until we can push down to this demand Zone where then we can maybe  look for a long trade off of this 4-Hour demand Zone at 1.07 s that is really the highest odd  situation to look for Longs the shorting trade is already kind of worked out as we've pushed off  of Supply already so for Longs we either need to wait for this demand Zone to be hit or let's say  we don't push down to the demand we push back up break through Supply like that

any 4-Hour demand  Zone there we could look for long at to basically trade the continuation of the move up so really  two options here on the Euro like I said I don't like shorting at this Supply again it's tested  with a wick you could I guess in theory look for shorts on a day training time frame but with the  break of momentum here and clear profit margin to the upside on the daily chart I think waiting  for pullbacks to demand is going to be good or waiting for Supply to be removed and then

a  pullback to demand is going to be good here uh on the Euro and like I said we have very we  have a very very clear profit margin up to daily Supply at 1.09 so it's one of those times where  it makes me feel a little bit better trading uh considering there's very clear profit margin  and we have recently broke moment mum on the 4our chart so it's really all about waiting for  those pullbacks down to the 4-Hour demand zone or waiting for new demand zones to be formed here  on the Euro US on to

the forecast for gold just a reminder here I've been saying it in every weekly  forecast video but we do have a weekly upper trend line here so it's looking really good as long as  this trend line is holding on the weekly I'm going to be pretty bullish here uh on gold so we really  want to see that next uh leg up here on gold to continue uh to basically trade the continuation  of that Weekly Trend and as you guys know we had this daily demand Zone I pointed this out a couple  weeks ago uh as we

ll so far we have seen nothing but pretty much bullish pressure uh on to the  upside here since we have hit this daily demand zone now if you look at these uh daily candles  here I wouldn't say these are the most bullish candles ever you know there are Wicks on pretty  much all of them so I'm really looking to get that next kind of big big uh leg up here on gold but  we did actually catch this beautiful 4-Hour demand Zone trade at 2019 off of this 4-Hour demand Zone  uh that is from the daily Ma

rket breakdown video and if you guys do want access to my market  forecast throughout the trading week my daily Market breakdown videos daily chart analysis video  lessons Sunday Zoom sessions check out the diamond membership we have lifetime access available as  well so we'll be happy to see all s ious Traders join the team to get my analysis throughout the  week so as we look at this 4-Hour chart here um we clearly reacted off the demand so with the 4our  demand and control we could be day tra

ding long I wouldn't really call this a trend I would just say  momentum is to the upside here so I think looking for Longs on day trading time frames could be good  uh especially since we have a 1hour uptrend as well so yes going back to the daily chart we are  kind of start we are starting to approach these kind of these highs here but with the demand and  control and the weekly Trend up on gold I think looking for Longs is really going to be the most  favorable option um in the meantime I don

't really have any good zones to point out because like I  said that 4our zone has already taken place that is why I post my analysis throughout the week so  we can catch trades throughout the week not just on these on these weekly forecast videos but  we also have a picture perfect looking 1hour uptrend on gold so what that means is on a one  minute chart or a 5-minute chart you could be day trading uh long with this 1hour uptrend as  long as this 1 hour uptrend upward trend line is holding I t

hink looking for Longs on day trading  time frames is going to be good and why am I so bullish well remember like I said at the start  we have a pretty nice weekly upward Trend with a daily demand Zone in control so yes we already  caught a beautiful tradeoff of gold but we will definitely be looking to uh continue to trade with  that Weekly Trend and continue to look for Longs here on gold on to the forecast for the USD JPY so  looking at the weekly chart here just a reminder we are sitting in

weekly Supply but I mean look  at 1 2 3 4 5 6 7 eight green bullish candles in a row to me it looks like we could break to the  upside it's really all going to depend on the dxy uh daily chart to see if that daily demand  is going to hold or not if it does I think it's pretty clear we are going to break above and  create a beautiful looking weekly uptrend on the USD JPY weekly chart so with that being said  let's go down to a daily chart this is the Dilemma uh we were having just because there's

a dilemma  doesn't mean we didn't catch any trades but we had a supply Zone and a demand Zone very close to  each other the demand at 14957 and the supply at 15036 you can clearly see we pushed up created the  demand reacted up the the supply pushed back down into demand reacted off of it and now we are back  into Supply so definitely tricky times I don't really love trading in a ping pongy type area like  that but with that being said it doesn't mean we couldn't be looking for Longs or shorts

and in my  opinion we actually had a reason to get in long we clearly had a downward trend line here boom  boom boom we had lower lows uh pretty clear Peaks and valleys and we actually broke above the trend  line creating this demand Zone here at about 1510 and I pointed out to that this Zone to the diamond  members uh in the daily Market breakdown video and we cut a beautiful trade off of that zone to the  upside so just wanted to point that out as well and we actually have new demand down here

at 15025  so if we do pull back down to this Zone I think it's another area where we could potentially look  for Longs especially on day trading time frames so if you are a day trader this would be a great area  to also look for day trading Longs maybe using a confirmation entry just on a lower time frame to  kind of narrow down your entry since this zone is kind of a reaction off of the trade we already had  so it's not the highest odd situation but at the end of the day it is a good little da

y 1H hour  Zone that we could be looking for Longs in and not only that we have a beautiful 4-Hour uptrend  with a 4-Hour demand Zone clearly being respect Ed with tons of room um to this trend line so  we could definitely be continuing to look for Longs here in the USD JPY especially since that  daily demand has come in control uh on the dxy as well so whether you want to wait for pullbacks  down to the 1hour demand zones like I pointed out or you want to continue to look for Longs now  I think

there's really no denying the 4-Hour Trend and the fact that we have lost momentum on  the 1H hour chart I think it's safe to say uh we could kind of continue to break out here on the  USD JPY all right on to the GBP USC the British pound what are your thoughts on the pound let me  know in the comments down below I actually had somebody comment last week say oh my my comment  on the pound was deleted I will never delete a comment unless you are just outright attacking me  and it's not worth any

thing and it's just rude I will delete it but I would never delete a comment  ever so I mean if it's just anything about a pair or anything so I do apologize I'm not sure what  happened but anyways let me know your thoughts on the pound we do have that daily demand in control  not loving this sideways action though know if I'm being completely honest with you guys so right  away um I just don't love it I mean looking at this 4our chart yeah you know we could say  momentum is up I would say but s

till it's just there's really no demand here to look for Longs at  it is just not one of those pairs that I'm super interested in so my thoughts on the pound are  I would pretty much stay away um I mean if you want momentum is to the upside here that's clear  that's why I have this 1H hour uptrend indicator Arrow here for the members who get my daily  analysis and you know recently we did break Above This Supply Zone this was a significant  Supply Zone as you can see and why was it a significant

Supply Zone well because not only did  it break demand but I mean look at this huge move away and we pretty much blew through it not not  blew through it we did kind of react but clearly we broke that zone but the problem with it is we  did not break the high I would have preferred to see the high removed but at the end of the day  we do have a demand Zone down here at 1.26 if you think this you know trend is going to continue  here in the 1 hour chart then you could look for Longs down in that

area of demand as far as shorts  I don't really see any reason to short right now um except for the fact that the US dollar is into  demand but if we break this 1 hour demand then I would say maybe we could look for shorts then in  that Supply Zone something like that and obviously this I won't be able to show you guys on Friday  today or Saturday whenever you are watching this this will happen throughout the week if it does  take place and I'll have this Zone on the chart for the members so th

at's what I'm going to be  looking for here on the pound to see if this Zone can be removed or to see if it's going to  react to the upside I'm not a day trader but if you are a day trader that's where you'd be looking  for Longs inside of that demand Zone here on the gbpusd all right on to the forecast for the USD  CAD as you can see we have pretty much we we've had a problem pushing up here on the USD CAD  why well in my opinion is because this Supply zone right here at 1. 3 4 uh sorry 1. 354

we've  reacted off of it pretty much once almost twice three four four times now so if we do push up to  it I'm kind of expecting to see at least some of a small move off of this Zone if the dollar daily  chart continues to go up we'll probably see a move up um looking at this daily chart but that's why  we have seen um kind of some um not not the best times to trade in the USD cat and you're going  to see how tricky this chart is if you look at a 4our chart I would say that this 4our trend is 

up I don't know about you guys I would say it's up although I am not a fan of what's taking  place right here this is clearly a lot of manipulation to the downside but it's it's still  being respected in my opinion so you could be day trading long this 4-Hour uptrend I that's really  all I'd be doing as far as looking at this 4our chart and why well because look at this 1 hour  chart we have a pretty nice 1H hour downward Trend as well so what do we do when we have a 1H hour  downward Trend and

a 4our uptrend and no trend on the daily chart what do we do I pretty much stay  away I mean this is a Zone I point out to members as well you could have been looking for Longs in  there as kind of a trap setup support resistance area but not really the best time to be trading  but since we have a 4-Hour upward trend line we also have a 1H hour downward Trend so if we can  break this 1hour downtrend leaving us with a 1hour demand Zone here I will have that on my charts  and we could look for pot

ential Longs as we come off of or sorry as we come off of breaking this  1H hour downtrend so that's what I'm going to be looking for here on the USD CAD to potentially  get in Long uh but in the meantime we need to wait for this downward Trend uh to be removed kind  of um to pretty much prove that this 4-Hour trend line uh is going to continue up here on the USD  CAD all right on to the Aussie Us doll forecast looking at the daily chart here we've clearly  seen you know 1 2 3 4 5 6 7 8 9 but ba

sically 10 uh days in a row of strength in the Aussie and  you know if you just look up it's clear Where We Are headed if we do continue to go up up to daily  Supply at 0.66 so why am I pointing this out well I just want to say there is profit margin to the  upside to a significant daily area of Supply so that is very important we're going to pretty  much focus on this 4our chart you know we had a pretty nice uh 4H hour downward Trend we clearly  broke the trend here and we have seen some upper

momentum now this is not a 4-Hour uptrend by any  means and we are actually currently being held up by a supply Zone at 0.658 on the 4our chart so  if you are bullish and you want to trade up to that daily demand which I think we could see um  we pretty much want to wait for a pullback down to this demand at 0.65 or we could then look for  Longs or we want to wait for this 4our Supply to be removed in any 4-Hour demand Zone we could  be looking for Longs there I think that's fine if you are bear

ish and you think we are um going  to continue the you know kind of the overall move down then you could be looking for shorts as we  come off of this supplies them and that's pretty much all I would be doing we could trade from  Supply down to 4our demand so a couple options here if you are going to look for shorts I highly  recommend only on day trading time frames in my opinion um it's just kind of the safest uh thing  to do but honestly guys It's Tricky I know I'm probably going to get some

hate comments in here  oh oh you're either going to go long or short thanks for the forecast I've got that comment  a few times uh but honestly that means it's a tricky time to be trading because I see reasons  to look for shorts because we broke momentum in the daily chart I get it but I see clear momentum  to the upside a clear break of momentum from the downward Trend and I think we could be looking  for long still but I also see reasons to short we have a supply Zone in control so definitely

  tricky times it's all going to depend on what time frame you're trading as well but I always  like to kind of give both sides of the equation here onto the forecast for the USD CHF reminder  we have a pretty nice weekly downward trend line we do have a downward trend line in in control  actually pretty much as we have pushed back up to that trend line so we definitely could see some  downward pressure as we look at the daily chart you know we have demand and or sorry supply and  demand here we

are just sitting in the middle so not much to go off of but we do have clear profit  margin to the up and to the down side so we pretty much have to rely on the lower time frames to  uh you know make our trading decisions and on the 4our chart there's pretty much no denying this  upper trend line being respected you know we did kind of Spike below demand but in my opinion it  is still being respected um you could look for day trading Longs as we come off this demand  Zone that's really all I'd

be doing at least looking at this 4H hour chart we've already  got a reaction off of this demand down here and this is a significant demand Zone because we  had that temporary 1H hour downtrend broke above it created demand and nice reaction off of it so  you know the next move we are looking to see is kind of that next leg up to create a trend to  the upside and then day training Longs become even higher odds but like I said we have that 4H  hour Trend holding um so we could be looking for Long

s and look looking at the 4-Hour chart if we  break this 4-Hour demand Zone like that what is the next move that could take place well what  I would think that could be happening if we do break that 4-Hour Trend back to the daily chart  I think if that 4-Hour trend line breaks that that could be a sign we are headed back down to  daily demand at 0.86 and if we continue to go up I think we're headed back up to 0.90 um those  are my two profit targets here as we look at the USD Swiss last but not

least we are on to crude  oil so we're going to start with the daily chart here we did have a daily Supply Zone I wasn't  a huge fan of it because it's a reaction off of Supply back here it's a very used area I actually  still think we could Spike above here kind of stop everyone out in my opinion but in the meantime we  do have a supply Zone that is in control and that is why we have seen some downward pressure here on  crude oil we did have a 4our demand Zone here nice reaction to the upside I

had this line This high  up here I was waiting for this to be REM moved cuz then we'd have a nice 4-Hour uptrend but we don't  really have that as we have not removed that high so now we are pushing back down clearly to this  4-Hour demand at 7626 look I don't like trading at tested areas of demand especially when it's  tested this much it pretty much went in you know over 50% of the way in um spent a decent amount of  time here so it's not really an area that I'd feel comfortable looking for L

ongs in if we just Spike  down and just hit it instead of reacting like this then I would say maybe we could look for Longs in  there but if you want you know we still could see a move off of it but you would want to look for a  day trading confirmation on like a 15minute or a f minute chart um not really anything other than  that to continue to go up and look I think since it's tested it's very easily we could break it  and we do have a demand down below at 7425 we could look for Longs in there

so um two areas here  we could look for Longs at on oil um and look if we break both of these zones then I will have to  switch to uh a bearish bias but in the meantime we do have a couple zones here we could potentially  look for Longs at here on oil um you know a couple 4our zones here that are looking pretty  decent if you guys want to watch the ful length forecast with all the other markets make sure to  subscribe to the channel membership to get access