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Video: Breakouts in this Direction After News Events Are High Probability

Tuesday Technical Update of the high probability opportunities for this week in Forex, Indices & Commodities.

Click on the video to watch the full breakdown

With such a busy news week, we’re paying close attention to the calendar.

Today the focus is CAD (with CPI release), and tomorrow it’ll be the USD (Rate & FOMC events). The other headliners are GBP (Rate release) and JPY (BOJ Policy and Press Conference).

As usual, markets tend to range before the big announcements, so no surprise to find it in this mode.

Minor pairs have already made their moves, and indeed, because of the USD-heavy week, they’re a ‘safer’ bet so to speak.

If you’re not seeing quite what you like to see on the chart, it’s likely Thursday and Friday will yield a clearer picture for the charts that are linked to USD – i.e: Gold, Oil, USD/JPY, GBP/USD.

So far, the technical pick in terms of probability – as well as a match with the news – is GBP/USD and USD/JPY.

Let’s repeat what was said on Sunday: Navigate with caution.

In this video we go over these opportunities for the week:

  • GBP/USD
  • EUR/CAD
  • USD/JPY
  • CAD/JPY
  • EUR/NZD
  • EUR/GBP
  • Crude Oil
  • Gold

Written by: Dima Mihailovich, Technical Analyst for Forex Prop News

Contact and follow Dima on Twitter: @dimafpn

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