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Video: Strong Trends Across the Board & Busy News Week Ahead!

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

Click on the video to watch the full breakdown

This week is chock-full of news event from the economic calendar. Most currencies are covered by some kind of release.

If you’re focused on USD pairs (and commodities), the major one this week is FOMC and the Fed Funds Rate on Wednesday. But at the same time, we have major CPI and Rate announcements in other countries.

Navigate with caution.

Often, just before the news, markets tend to either: (A) make a run to significant levels, or (B) range. Mark your significant points and scenarios out beforehand.

Monday and Tuesday can be used to take short-term trades, but going into Wednesday you may want to consider closing positions, if you intent to protect your risk – unless you have a very wide swing position and have already accounted for news volatility.

As always, if price action doesn’t produce a clear opportunity, it’s wise to wait some time after the news, and switch to a higher timeframe, to help you make better decisions.

Gold is an example of that. Despite its big swings, the Sell bias still holds for now. And the inverse situation for XXX/USD pairs.

Apart from that, this week many charts are similar in outlook to last week. Now we’re just looking for the next available entries. In fact, the probabilities are even more so in our favour because time has passed and with more data, there’s more clarity.

The Minor pairs are also continuations of last week. With the addition of EUR/CAD, being an outlier, which is showing a clearer bias to the downside, based on last-week’s close.

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

  • GBP/USD
  • EUR/CAD
  • USD/JPY
  • CAD/JPY
  • EUR/NZD
  • EUR/GBP
  • Crude Oil
  • Gold

Written by: Dima Mihailovich, Technical Analyst for Forex Prop News

Contact and follow Dima on Twitter: @dimafpn

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