Video: Focus on USD & CAD Pairs with News – Technical Update

Tuesday update of the high probability opportunities we looked at in the beginning of the week in Forex, Indices & Commodities.

Click on the video to watch the full breakdown

When the market moves away without you, it’s wise not to chase it.

That’s what’s happening on the USD pairs so far this week. As expected from the start of the week, the strength in the Dollar is continuing. The XXX/USD pairs weaken and the USD/XXX pairs strengthen.

Now is the time to wait for the areas of interest, to anticipate the next most likely retracements and jump on the trend.

The major news for this week is yet to hit, Wednesday and Thursday, so pairing the pullbacks with the volatility of the news is scenario we’re looking at. Our invalidation points are also marked out. Now, it’s a waiting game.

On the Minor non-USD charts, we also have some hints at what the market wants to do, from the Price Action, but again, it’s early in the week to tell. Range-bound movement is expected before bigger moves. And, if the lower timeframes aren’t producing clarity, it’s preferable to wait for D1 candles to close.

In this video we go over the technical analysis update of these opportunities for the week:

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

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

Contact and follow Dima on Twitter: @dimafpn