Mid-Week Analysis of the high probability opportunities for this week in Forex, Indices & Commodities.
Click on the video to watch the full breakdown
As you anticipate the big news of the Fed Funds Rate & FOMC to be released today, the question to ask is: how will you plan your trade idea in a way that is both high probability and low risk?
If the trading environment isn’t right for you, best avoid the markets completely.
For those of you happy with the risk, today we’ve planned out a few scenarios on the USD-based pairs on the shortlist: EUR/USD and Gold. Both currently look more bearish than bullish, but as always, we:
A) Wait for those better prices before considering entering, and
B) Make a plan of action if the market shows us it wants to do something else that’s not in our bias
AUD/NZD is the Favourite
This is one we’ve been waiting on for a long time, and now it’s come to fruition. The candles have indicated the resumption of the bullish bias and end of the retracement. The fact it’s not as affected by USD is also a plus here.
The Minors & Other Markets
You may have already made use of the SP500 idea, as it went right to plan.
We’re still patiently waiting on AUD/CAD and GBP/CAD to end it’s downtrend. The D1 candles will be the main indicator of a reversal, when it comes – perhaps in coming weeks.
As ever with these really big news announcements: plan your trade, manage your risk, but expect the unexpected. If you’re conservative, you may want to stay out completely and reassess later.
Watch the video for more on this week’s areas of interest and trade scenarios.
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 risk that goes with it.)