Hello traders. This week is looking explosive in the forex market. We’ve got major price levels lining up, potential breakouts brewing, and economic news that could really shake up the charts. I’m going to break down the exact pairs I’m watching, the key setups I’m looking to trade, and how I’m planning to tackle this week.
If you want to stay ahead of the market and catch the best opportunities before everyone else, then this forecast is for you. So stay till the end of the vid, guys, as I’m going to share with you every one of my trade ideas for this week. Let’s dive in.
So traders, as usual, lots to get through this week, but the main catalyst for my trades this week is strength and weakness. Okay, we’re also going to take a look at , , and , but predominantly my trades are Aussie dollar and US dollar.
So where better to start than Aussie dollar, US dollar. And if we take a look at the weekly chart, you can see that we are in this uptrend and then it’s kind of started to range, right? So, if we’re in an uptrend stroke range, I want to buy and I want to buy from the bottom of the range back to the top of the range. Okay? And my target would be this N6600 psychological level.
So, structure is telling me I can buy. If we zoom in, you can also see candles are telling us to buy. Look at that massive wick rejection at this support level followed by a nice big bullish weekly candle. Right? So everything’s telling us buyers are in control and we still got this room to move into back up to here.
So weekly is quite clear right now. The daily is less clear because you know what is trend now? Trend really is a downtrend, okay? Because we’re still getting lower highs, lower lows. Now, obviously, it’s stopped making lower lows, but it’s in a downtrend. Now, this is more of a weekly trade as a result. So, what I’ll be looking for is a retrace back into potentially this support level here.
Right, we get a nice bullish reaction in here and then I’ll be looking to buy Aussie dollar US dollar potentially all the way back up to these highs here. All right, so Aussie dollar US dollar buys that is my first trade idea.
Now, before we look at all the Aussie dollar strength trades, let’s carry on with US dollar because I’m also interested in US dollar, sales. Again, let’s start with the weekly chart. And as you can see, guys, we’re still in this downtrend, right? This high in here has never really broke, right? This wick closed back in. This wick is closing back within this wick. Get my teeth in. Right.
So, there’s still a lot of selling pressure here. And then we got a nice big bearish weekly candle like this which is tracking below the river. Okay. So, this is telling me we can sell potentially back down to this 1.3650, if not all the way back down to these lows. Now, there is a but with these trades, right? Well, with this trade and it’s the day chart, right? Because we are at a key level here.
You can see price come back down, tested this level, then it’s built back up again, right? We have broken down again, but this is a key support level. So, there’s a couple of ways we can trade this, right? We can trade it. We get a retrace back into this resistance level. We get a nice bearish reaction.
We can start selling or this strength continues and quickly and we get a break of this level then a retest into here and then we can start selling US dollar Canadian dollar. Right? So they’re the two scenarios I’m looking for.
And then the last US dollar pair I’m looking at is US dollar . Now again, if we start with the weekly chart, you can clearly see we are in a downtrend. Okay, just look at all the bearishness of these candles. Bearish wick, bearish wick, bearish wick, big bearish candle, right? Sellers are in control. Okay. And then also last week’s candle, we’ve got this big bearish wick as well. So if we drop down to the day chart now, we have had a structure break on the day chart. Right? If we just track structure, you can see we broke these lows in here.
We’re in a downtrend. Price retraced. We took some nice trades on this all week. This has been very nice to us last week. We were selling this, but it seems to have found a bit of support here. So, what I want to see is a break of this level, retrace into here, and then we can start selling back down to these lows again. All right. So, there all the US dollar trades that I’m looking at this week.
While we’re here, let’s take a look at gold because gold is flying, right? Again, because of this US dollar weakness plus gold, you know, being a flight to safety, central banks buying it up. Lots of reasons gold’s flying fundamentally, but I don’t want to buy it. You know, this is clearly a resistance level for gold. I don’t want to buy into that. Yeah, I’m going to see how price reacts at this level. But, you know, looking at this weekly candle, there’s probably still a bit more room into this zone. Um, so there’s gold, guys.
Right, we’re now going to look at all the trades with Aussie dollar strength. And there’s some really nice setups here. But before I do, guys, if I can please ask everyone to subscribe to the channel, smash the notification button, and please smash the like button. If you haven’t already, please come join our trading community. You can talk to like-minded traders, share knowledge, share trade ideas, talk about the football if you want.
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Right, Aussie dollar strength now. So let’s So we’ve looked at Aussie dollar US dollar buys. Let’s look at Aussie dollar yen buys. Now, yen, I’m this week. I’m predominantly yen weakness because of what I’m seeing on the charts. And really, that’s typified by . Okay? Because if we look at the weekly chart, it’s quite clear, right? We’re in an uptrend, okay?
We’re getting higher lows, higher highs and we’ve had nice bullish candles, right? We’ve had two weeks of bullish candles. That wick is bullish. That candle is very bullish. Right? So, all I want to do is take price back up to these highs and this 97 psychological level. Okay, that’s all we want to do.
So, the weekly is telling me I can buy. Let’s drop down to the day chart and see what we want to do here. Now if we look at the day chart, right, we are still in a downtrend. Yeah, we had a similar issue with Aussie dollar US dollar, right? So this is where we’re at. This is the last daily high. So we can trade this two ways, right? We get a retrace into this gray support level. We get a nice bullish candle. We can start buying. Okay? or we get a break of this level, a retrace into it, a nice bullish candle and then we can start buying. All right, so a couple of ways we can buy Aussie dollar yen.
Let’s have a look at . We want to sell this. If we look at the weekly chart, right, you can clearly see we found a resistance level here, right? Price came up, come back down, came back up, come back down. Right, so we’re finding ourselves in a little bit of a range here. Okay, we’ve got a nice big bearish weekly candle. The idea is to come to the bottom of the range.
Um, let’s have a look at the day chart and see what we want to do. Now, this is a common theme with these Aussie dollar pairs, right? This is really in an uptrend, right? It is. Okay, we’re still getting higher lows, higher highs, but if we get a retrace, you know, maybe look at the 50 50 fib level, right, somewhere in here, right?
If we start getting bearish reactions around this 1.8,000 level, you know, candles that look like this, then I think we can continue selling potentially all the way back down to these lows.
And it’s the same with . Like I said, guys, the Aussie dollar is strong. It’s stronger than Jackie Chan and Bruce Lee combined. If we look at the weekly chart, again, the same story, right? We had all this pound strength and also that euro strength, but then ever since we’ve broken down, we’ve kind of ranged, guys, right?
So, we’re in this range right now. All right, we’re ranging between here and here. And the idea is to come from the top of the range because of these bearish candles back down to the bottom of the range. And I would aim for this 2050 level.
Now, if we go to the day chart, the pound Aussie dollar for me has broken down, right? Because we broke this level here, okay? and we started to get lower lows, right? So a retrace back into this low, a nice bearish reaction. I would look to start selling the pound Aussie dollar. Is there any more Aussie dollar strength? No, that is all the Aussie dollar pairs we want to look at.
Stay with me, guys. We’re still going to look at the Euro pound and oil right now as well. So, let’s start with , okay? And let’s start with the weekly chart. Okay. So, as you can see, we are clearly in this uptrend, right? We’ve retraced to this nice support level where the price keeps bouncing off. And then we’re just getting these nice bullish candles, right?
Nothing but bullish candles at this level in an uptrend. You can see it bouncing off our smart river here. So weekly is telling me I can buy. If we drop down to the day chart now, I’m just going to wait for a daily structure break, which may or may not happen, but that’s what I’ll be waiting for. So you can see the price is kind of just bouncing off this level.
You can see this is where we’re at right now. So all I want to see for a buy trade is potentially something like this. We get a break of these highs, retest, and then we come back up to this resistance level here. Um, so Euro pound buys if that happens.
And then the last one, guys, we’re going to look at um is oil, right? If we look at the weekly chart, you can clearly see we were in this downtrend and then bang, we were in this massive uptrend and then bang, we’re now in a downtrend again, right? We’re getting lower highs, lower lows. All right, we’re in this downtrend.
You can see what was once support becomes good resistance. All right. So, let’s take a look at that on the day chart. Um, so yeah, there’s that level I’m talking about. Okay. And there’s a price bouncing off of this level. So, we’ve had a bearish reaction once, but we found a bit of support at this level right here. Okay. So, all I want to see is for the guys on the day chart to break this level. If we break this level, yeah, I will look to take price back down to these lows, if not a bit further.