Hi Traders! Forex Weekly Forecast Text Format March 22nd to March 27th 2020 is here. My team and I always continue to work very hard for you and your success and as we do every week, we have prepared two great gifts for you!
Forex Weekly Forecast Video:
And here is the text format of the Forex Weekly Forecast prepared for you specially by my team:
Note: Right now with the Corona virus impact the real money flow is not there in the market, a lot of investors and traders are out of the market and are waiting for this crisis to come down. Many traders are sitting on the fence making nothing, what you would see on the market in such period in panics, there are a lot of random fast moves with high volatility, very serious moves, big volumes but these moves are not technical but in such cases its very important to wait for your setups, have your analysis. If the setup comes, trade it and value the risk, if you would be right in high volatility period then once it moves, it moves big and fast but if it doesn’t then you know your risk is limited. Don’t trade without planning your risk its a big mistake.
In this pair on the H4 chart the price has created a bearish trend pattern and the momentum is seriously on the bearish side. There is no ending bullish divergence at the bottom so the way I see this, its still bearish and sell the rallies with bearish evidences would be my plan here. We might see some rallies here until we create some hidden bearish divergence for trend continuation.
My invalidation level would be the 61.8% fibonacci retracement level shown in the screenshot below, if the price moves higher, breaks and holds above this level then this bearish view will be invalidated.
In this pair on the daily chart the price has currently bounced from the 0.95 psychological level and also on the Bollinger Bands we have a bit more of two duplication’s. It is very likely to assume that we are in a corrective phase which later on we would be looking to go for buys.
This corrective phase could happen in the form of two waves.
Or alternatively it might happen in the form of some consolidation.
This or the other way around, the dips if it happens in one leg or two legs, I would be looking for the buy opportunities with bullish evidences.
The way I see this pair it should be going higher to complete the leg as it is created currently.
Meanwhile we manage to enjoy the great sell opportunities that we are exposed on last days of the week. This opportunity was shared with you all completely free in my trading view channel and it provided us excellent profits
In this pair our plan from previous week was to look for two waves corrections and buys. The two waves correction happened, we didn’t get a deeper one but we got a bullish hidden divergence and then we got the most recent downtrend line breakout, then the price moved higher, it was a fantastic call which delivered closer to 400 pips profits. I hope you enjoyed this trade just as we did, if you did please leave your feedback in the comments section below.
The way I see this pair based on the current scenario we are building a bullish trending pattern on the H4 chart which means I would expect two waves correction and continuation.
On the H1 chart the price is currently building up a bearish trending pattern to the downside which means some rallies to the area shown in the screenshot below, I believe should be exposed to another leg to the downside.
My invalidation level would be the 61.8% fibonacci retracement level shown in the screenshot below, if the price moves higher, breaks and holds above this level then this short term bearish view will be invalidated.
For those of you who don’t want to trade this aggressive short term bearish view then just get exposed to the two waves and then look for the buys with bullish evidences.
Or alternatively the price might move inside a range and then we may look for possible continuation higher.
The invalidation level for this bullish view would be the 61.8% fibonacci retracement level of the bullish trending pattern if the price moves lower, breaks and holds below this level then this bullish view will be invalidated.
This pair was one of the rockstar’s of last week, our plan here was to buy retraces with bullish evidences. We got the little retrace and the bullish hidden divergence came in play then this pair flied higher, we got more than 800 pips profits with this trade. I hope you guys enjoyed this trade just as we did!
Based on the current scenario I believe that the area of 1.45 – 1.50 would be problematic, I would definitely expect some retraces and we may expect the correction before we move forward. Buy retraces with bullish evidences would still be my plan here.
We should see some fight around the zone shown in the screenshot below before if the trend will change.
For the longer run I would not be surprised if the direction is still bullish here.
I would like to go over some of the instruments that I covered in the Live Trading Room in my Traders Academy Club last week. This is how the report looks like. A table with the hottest market opportunities, screenshot behind every pair and time frame (anything that is in blue inside the table is clickable and leads to a screenshot) + a summary in text format, kind of highlights. And of course Live Trading Room every single day. If you want to enjoy similar trading ideas as they come live (we run our Live Trading Room on daily basis, where we analyze the market choosing the synchronized opportunities as we see them) I invite you to join our Traders Academy Club
In this pair my plan was to look for continuation lower after retraces. The price moved perfectly as per my plan and provided us amazing profits.
Based on the current scenario I believe the party is not over yet, there is more to go and I think pullbacks towards the areas shown in the screenshot below should deliver us next sell opportunities. Unless the trend changes (currently I don’t see any reason for that) my plan here is to sell the rallies with bearish evidences.
This is yet another instrument from the Traders Academy Club watch list which I shared with the members last week. This was an amazing call which provided us wonderful returns.
Currently we are in a reversal phase which means we might face here some sort of ranging period.
This is yet another instrument from the Traders Academy Club watch list which I shared with the members last week. This was an excellent call which provided us fantastic profits.
In Gold our plan from previous week was to sell the rallies and the way it behaves right now, we have a first leg down and sell the rallies with bearish evidences still remains the plan for me here.
The way I see this, the price might move in two waves and then we might get possible continuation lower.
Or alternatively in some sort of a range.
My invalidation level would be the 61.8% fibonacci retracement level of the bearish trend pattern shown in the screenshot below, if the price moves higher, breaks and holds above this level then this bearish view will be invalidated.
Regarding the Indices Dax, Dow Jones, S&P500, all of them since the beginning of the week sell the rallies still remains the plan here, we didn’t have any trend change or reversal so the bearish momentum is yet on. We are currently running sells until we face any trend change the bearish view remains here.
I have more instruments in my list which I will cover this week in the Live Trading Rooms in Traders Academy Club.
Note: Bullish evidences could be in the form of candle stick patterns, false breaks, trend line breakout etc… supporting the bullish view and bearish evidences could be in the form of candle stick patterns, false breaks, trend line breakout etc… supporting the bearish view.
Once again I invite you to join me in my live trading rooms, on daily basis, and improve your trading with us.
Also you can get one of my strategies free of charge. You will find all the details here
I wish you a wonderful trading week
Yours for your success,