TV

Video: Sell Opportunity Now, Amid Indices Crash & Wait for this Clue on Bullish Dollar Trend

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

Click on the video to watch the full breakdown

If last week was a difficult one for you, lament no more. Markets have provided their intention across many charts.

Here’s the summary of the current situation we’re looking at:

  • Dollar’s choppy ranging price action will have confused many traders, but it’s still Bullish. This week could clear the air for you. Watch for the clue on DXY mentioned in the video before engaging.
  • Based on the above, for USD pairs this week, it’s clear what direction the bias is…
  • Across all the indices – SP500, Dow, Nasdaq – we’ve got a continuation of what looks to be a long term downtrend. This currently lines up with the strong dollar (which is inversely correlated). Of the three, this week it’s the SP500 that’s the choice of the Sell scenario.
  • When it comes to the JPY, we can still see the Yen is weak, so it comes as no surprise that the Buy bias prevails on XXX/JPY pairs.
  • The rest of the charts are clear to witness, because they are carried over from the bias last week.
  • EUR/GBP is an obvious continuation bullish, from the higher timeframe Monthly and Weekly chart.
  • EUR/NZD is also again an obvious continuation bullish, from the higher timeframe Monthly and Weekly chart.
  • The unusual addition of AUD/NZD this week is due to the fact that, after a very long period of unclear price action on the higher timeframe, it has only ripened now to produce a higher-probability-than-normal scenario. But do watch out for its choppy and unpredictable ‘behaviour’ as it can catch you out.

As always, no matter how likely the outlook seems to be, we allow the market its choice, and if it chooses to print price that’s contrary to the plan, we bail out, and re-asses.

Managing risk and being flexible is the name of the game. But you already knew that…

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

  • GBP/USD
  • USD/CAD
  • USD/JPY
  • CHF/JPY
  • EUR/GBP
  • EUR/NZD
  • SP500
  • AUD/NZD

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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