TV

Video: Dollar Up, Yen Down, Gold Swings – Weekly Analysis

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

Click on the video to watch the full breakdown

As the Dollar continues to be relentless, we continue to follow its up-trend.

This week many charts have the same outlook as last week, so it makes sense to continue on that train. ‘Follow the trend until the end’, you could say.

Again, the pick of the bunch are the USD pairs (EUR/USD and NZD/USD), along with Gold coming in on the Weekly chart, just as Dollar continues Bullish.

You could also look at the other XXX/USD pairs, they’d be just as valid as the price action is expectedly very similar. But for continuity’s sake we’ve chosen the same ones as last week.

As for Gold itself: the price action hints that we are creating a major turn in Gold, therefore the probabilities turn in our favour. If correct, and we are at the top of the higher timeframe swing, the analysis idea is very much worthwhile. The reason this was chosen is because Gold roared higher while Dollar went higher too. Since Gold price usually follows Dollar inversely, and so far it hasn’t, then we look at it as ‘lagging’ behind. Now, if you look at the chart, you could say it’s ‘catching up’ (so to speak) with what we normally look for it to do – i.e. be in sync with DXY prices and head lower.

As for the other charts…

USD/JPY continues to be a favourite, with the JPY still weak, adding to the probabilities of Bullishness.

The Minor pairs are also continuations of last week. As long as the market has held our bias, and not given the price action expected, it’s worthwhile reassessing and staying with the charts, to wait for the analysis idea to come to us. Sometimes, it just takes a bit more patience for that bit longer, before it finally plays out….

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

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

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

Contact and follow Dima on Twitter: @dimafpn

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Your email address will not be published.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

Fidelcrest video review

Play Video

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

Global Stock Markets
Market News

A Closer Look at Trends in Global Stock Markets

Global indices like Nikkei 225, FTSE 100, and DAX 40 hit record highs but may consolidate amid economic uncertainties.

Surging Markets Week of Record Highs
Market News

Surging Markets: A Week of Record Highs and Key Risk Events Ahead

Last week's record highs in US stock markets driven by tech and AI stocks set a positive tone for investors.

Copyright © 2023 Forex Prop News. All Rights Reserved.