TV

Video: Targets Hit on Crosspairs – Watch These Price Areas Next

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

Click on the video to watch the full breakdown

If you’re still thinking about trading the watchlist, as of writing this post, exercise caution in this week’s setups.

Usually, if the big move for the week started on Monday/Tuesday, we can expect to see the market slow down or complete its momentum by end of Thursday. Friday ends up being slower or reverses the trend – ending off the week and forming the wick of the weekly candle.

That’s not to say there aren’t any opportunities. Those that have reached our overall targets, like Oil, will now be low probability for continuation. But those that are yet expected to continue, may have steam left in them.

They are: EUR/AUD, EUR/GBP and NZD/CAD.

Our JPY pairs are interesting and currently retracing to a better price, but given that they’ve already covered ground this week with a lot of pips, plus having bounced off significant levels, it’s preferable to see some obvious bullish candles reacting off the marked zones, before counting them as good to go.

Those that are no longer of interest are: GBP/CHF, AUD/NZD and Crude Oil. Simply because we don’t like trading ranging markets or those that are in an extremely ‘overbought/oversold’ area.

A rule to follow to filter out low quality setups is:

Buy only when price is at a cheap area; Sell only when price is at an expensive area.

If no obvious setup presents itself tomorrow at London session, it’s likely that you won’t see an opportunity until next week. So plan accordingly.

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

  • WTI Crude Oil
  • NZD/JPY
  • GBP/JPY
  • EUR/AUD
  • GBP/CHF
  • NZD/CAD
  • AUD/NZD
  • EUR/GBP

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Your email address will not be published.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

Related Articles

TV

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...

TV

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

TV

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...

TV

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

Watch for These Moves on Minor Pairs & Dollar Direction Imminent

Featured educational content

EXPLORE MORE

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

Asian Stock Plummet as Nikkei Leads with 3% Drop
Market News

Asian Stock Plunge as Nikkei Leads with 3% Drop

Asian markets fell sharply, led by Japan's Nikkei, which dropped 3.14%. U.S. tech stocks also suffered significant declines.

Asia-Pacific Markets Dip on Tech Earnings and Economic Data
Market News

Asia-Pacific Markets Dip on Tech Earnings and Economic Data

Asian markets fell as U.S. tech earnings disappointed. The Nikkei dropped 1.27%, Hang Seng down 0.83%, and EV stocks fell.

Copyright © 2023 Forex Prop News. All Rights Reserved.