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Video: Fed Speech Preparation – Anticipate These Technical Scenarios for USD Pairs

Thursday update and analysis of the high probability opportunities for this week in Forex, Indices & Commodities.

Click on the video to watch the full breakdown

Of the list of major news events and releases to watch out for, the speeches given by Fed Chair Powell, is one of them. And today he’s up on his podium again to give his rhetoric to the world.

God knows what his mouth will utter…

Regardless of the outcome, the bias and scenarios are prepared. USD remains bullish and therefore, whichever USD-based chart/market you’re looking at, the higher probability idea remains in line with that.

Once that part is outlined, match the technicals with the timing of the news, and you have a confluence of factors.

Your invalidation/Stoploss points should give you the sign that you’re wrong and the market has changed its character. Until then, sitting on the sidelines and watching price makes sense. Let the news play out, even for an hour or so.

The higher the timeframe, the bigger the clue. So, what that means is, if after the news H4 or Daily candles close in a particular direction, you have a sign the market has taken its ‘set’ so to speak. The ‘greater force’ behind the real direction becomes clearer.

Use all the above, together with your entry methods, to form your own scenarios.

As for the rest, there’s not much to say today about the other charts on our shortlist, because those minor pairs have already made their move. It’s riskier – read Lower Probability – if one was to enter them again. So, from this point, only the very lower timeframes are viable.

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

  • EUR/USD
  • USD/CAD
  • USD/JPY
  • CHF/JPY
  • EUR/GBP
  • EUR/NZD
  • GBP/CHF

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.)

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