Video: Focus on These Crosspairs This Week While the Dollar is Uncertain

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

Click on the video to watch the full breakdown

The situation has changed for the Dollar. Cue dramatic music…

The question is: has is changed for the better or worse? That depends on your directional bias.

Last week’s NFP took out the whole range from previous weeks, creating a major engulfing price action candle on the week.

We’ve been Bullish on USD for some time now, and that continues to be the favoured outlook, until price breaks through key invalidation points (see the video for the exact level). But since last week was very heavily Bearish, the contradictory directions don’t add up to high probability trading.

In this kind of market environment, flexibility is in order and focus turns to the cross pairs (or Minors if that’s what you call them).

Luckily, we have some interesting price action on them this week.

Let’s first consider which currencies/countries have the most significant news calendar events this week, to see where the volatility will be most likely to be:

We have:

  • JPY – Speech
  • AUD – Rate announcement
  • NZD – Inflation Expectations
  • GBP – Speeches & GDP
  • USD – Speeches
  • EUR – Multiple Speeches

Looking at these, the charts we have this week, which contain currencies that BOTH have news are: GBP/JPY, EUR/NZD, NZD/JPY and AUD/NZD. Therefore, it may be worth keeping an eye on these when it comes to watching for volatility.

My personal pick of the week is: NZD/CAD – for its clear price action and the risk-to-reward potential.

Careful to not overtrade, nor to be overzealous with risk – the two account-killers for any trader.

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

  • WTI Crude Oil

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.)

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Our Newsletter

Subscribe to ForexPropNews Trading Newsletters

Receive the best-curated content by our editors for the week ahead.

Mini Charts

Fidelcrest video review

Play Video

Related Articles


Video: Here’s the Trade Plan for EUR Pairs, as ECB Interest Rate is Announced Tomorrow

Here's the Trade Plan for EUR Pairs, as ECB Interest Rate is...


Video: Watch These Setups on CAD and JPY Pairs, with Big News Incoming

Watch These Setups on CAD and JPY Pairs, with Big News Incoming


Video: How to Skyrocket Your Profits from *One* Trade Setup (Plus: This Week’s Trade Results)

How To Squeeze More Profits from ONE Trade Setup (Plus: This Week's...


Video: Watch for These Breakouts on Minor Pairs & Dollar Direction Imminent

Watch for These Moves on Minor Pairs & Dollar Direction Imminent

Featured educational content


Featured educational content

New to Forex? Learn to Read Charts Like a Pro

Dive into forex trading basics: chart reading, candlesticks, technical indicators, timeframes, currency pairs. Start your journey to trading success today!

Video: How I Re-Programmed My Mind to be a Consistent Trader (Thanks to The Wolf of Wall Street)

How I Re-Programmed My Mind to be a Killer Trader (Thanks to The Wolf of Wall Street)

Video: This Invisible Trading Indicator Tells you What Day Trade (Not Just Price)

This Invisible Trading Indicator Tells you WHEN to Trade (Not Just Where)

Technical Analysis: Chart Patterns and Indicators for Profitable Investments

Navigate stocks with confidence using chart patterns like Head and Shoulders, indicators such as MACD, and tools like trendlines. Master technical analysis for...

Latest News

Dow Nasdaq Hang Seng
Market News

Dow and Nasdaq Near Peaks, Hang Seng Rally Strong

Global markets show Dow Jones and Nasdaq 100 nearing record highs, while Hang Seng Index rallies above 100-day SMA.

Market News

Gold Bulls Stifled by Resistance as Focus Shifts to US PCE

Gold prices retreated on Monday, pressured by rising U.S. Treasury yields, with investors eyeing the upcoming US PCE data release.

Copyright © 2023 Forex Prop News. All Rights Reserved.