My Weekly Forex Scan

Setups for this week

Hey everyone,

I completed my regular weekly market scan this morning, and the full video recording is now available below. Along with the video, I’m sharing some of the most interesting charts and the key pairs I’m watching this week.

Current Trade Updates

EUR/USD: Holding the Line

My two-week-old short position is inching closer to the Stop Loss (SL), but critically, there is no technical invalidation yet. I’m holding the trade as planned. This is the beauty of basing your analysis on the Daily timeframe, you can completely ignore the intra-day noise, eliminating stress and allowing the market to prove your thesis right or wrong. I’ve slightly adjusted the SL lower to reduce potential risk on this position.

Gold (XAU/USD): Breakout & Momentum

The Gold long position, which I’ve held since last week, is looking great following its recent breakout. This move confirms the upward momentum we identified. I’ve already moved my stops up to lock in profit and will look to trail them further to the next higher swing low, maintaining a low-risk, high-reward structure.

Charts on Watch This Week

EUR/CAD: Distribution Watch

On EUR/CAD, I’m monitoring a potential distribution range. This setup remains unconfirmed until we see a decisive break below the established range lows. We are currently waiting for the market to signal its next direction before committing.

EUR/NZD: Bullish Engulfing in the RLZ

EUR/NZD is currently inside the Long Reload Zone (RLZ) within a well-defined uptrend. Today’s candle is shaping up to potentially close as a strong bullish engulfing pattern right inside this key area. If the close confirms this setup, I will be looking to enter a long trade tomorrow morning.

Thanks for reading this week’s update! Remember to watch the full scan video to see the charts in detail. For real-time trade adjustments, entries, and chat, make sure you hop into the Discord server (it’s 100% free)!