Video: High Probability on These Minor Pairs with Mid-Week News Volatility Imminent

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

Click on the video to watch the full breakdown

With news being the major indicator of moves, today we focus on these:

• GBP – BOE Speech
• CAD – Rate announcement

So far, the market price action is invalidating our ideas and creating new lows/highs without giving us reversals.

What’s the Remedy?

As always, await further candles to print. Mid-week is the action time and an hour or two after the volatility (if it kicks in) will give us clues. Follow the trading plan. The longer we wait, the clearer the scenarios become.

USD Pairs

As we’re two days away from NFP, entering any USD pairs now is risky. NFP can wipe you out and STILL the market can go in your predicted direction (yes it’s happened to me many times). Lower your risk. Next week may be clearer.

My Favourites

Personal choices for this week are:

AUD/CAD: because of the matching strength/weakness biases, the fact it’s not a USD (NFP-affected) pair, and the matching CAD news.
AUD/NZD: also not a USD (NFP-affected) pair, and currently sitting at an extreme cheap area, with higher risk:reward potential.

I won’t be pulling the triggering just yet though… Watch the video for this week’s areas of interest and an update of the trade scenarios.

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

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

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

Contact and follow Dima on Twitter: @dimafpn

Image by Burak The Weekender, on Pexels

(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 risk that goes with it.)