Video: Eyes on These GBP & AUD Pairs This Week, as Dollar Direction Remains in Unclear

Weekly Analysis of the high probability opportunities for this week in Forex, Indices & Commodities.

Click on the video to watch the full breakdown

While the Dollar continues to trade inside a relative range, we continue to look at the non-USD pairs.

No biggy – simply shift and go where the opportunity lies. Unless you strictly only stick to and trade USD-pairs, and are willing to wait as long as it takes, there’s no reason to be fixated with working out where the setup might be, when there isn’t a clear one available…

As the saying goes: “Trade what you see, not what you think.”

And this week we do see a number of interesting developments.

Let’s start with the most interesting pairs:

• EUR/GBP – we’ve clearly resumed our high probability Buy bias, and look to continue that this week.
• NZD/CAD – last week was tricky, but sticking with the Buy idea, this week’s potential to create the swing low we expected last week, is even greater, and therefore jumping on the upward flow of the market is where it’s at.
• AUD/NZD – considering the deep retracement and the major risk-to-reward possible, this is another one to keep an eye on
• Crude Oil – looking to continue the major downward trend; just need an expensive price to do it from.

The least interesting ones are basically all the rest:

• Yen pairs are tricky to trade (though that doesn’t mean we shouldn’t)
• Higher timeframe picture isn’t as clear as on the other markets above. And, since the HTF is king, this dictates to us (using the price action and candles) the clues we need of what charts to focus more attention on.

The major news to look out for this week is: GBP CPI figures, and AUD Unemployment. Also keep in mind that, while we’re not looking at USD pairs this week, the USD CPI release is a big deal and the effect could trickle into some of the crosspairs (just like NFP).

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

• WTI Crude Oil
• NZD/JPY
• GBP/JPY
• EUR/AUD
• GBP/CHF
• NZD/CAD
• AUD/NZD
• EUR/GBP

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

Contact and follow Dima on Twitter: @dimafpn

(Please note: All comments made in this video and article are not trading or investment advice and are for education purposes only. You are responsible for your own decisions and the associated risk.)