Tuesday Analysis of the high probability opportunities for this week in Forex, Indices & Commodities.
Click on the video to watch the full breakdown
The French have a saying: “Plus ça change, plus c’est la même chose.” It means: The more things change, the more they stay the same.
The idea can be applied to this week in the Forex markets. No matter the number of changes and movements the market makes, no matter the asset or month – we still see the same ‘patterns’ repeating and the more it looks the same.
If you’ve been following the weekly analysis for some time, you will have seen me take the same approach repeatedly.
Of course, there are variations and each chart has its idiosyncrasies, but overall – particularly on larger timeframes – we see the same things happening. Again and again… Over and over…
The markets have made a shift in our expected directions right from the start of the week, so now the preparation begins with laying out the scenarios for the continuations. It’s not ideal when it comes to the best-of-the-best setups, because we’re not getting the best price for the week. However, we’re trusting the higher timeframe bias, as usual.
If we don’t get the expected retracements tomorrow (Wednesday) then Thursday will be the day to watch out for. And it’s also when the more significant news events come out.
As at the start of the week:
USD is still strong.
GBP is still weak.
JPY is still weak.
So all markets related to these should, according to usual market principles, have a higher probability of trending accordingly.
In this video we go over these opportunities for the week:
Written by: Dima Mihailovich, Technical Analyst for Forex Prop News
Contact and follow Dima on Twitter: @dimafpn