Video: Thursday Analysis – Reversals & Ranges Forming Before NFP

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

Click on the video to watch the full breakdown

The markets never cease to surprise.

We’ve seen some less predictable price movements this week so far. NFP week continues to throw up a spanner in the works and produce choppy price action.

The market has a tendency to tempt you with its moves.

Unless you’re scalping, it’s worthwhile to re-assess each day. Or even hold off until next week. Sitting on the sidelines can end up saving you a lot of headaches and being stuck in trades you don’t really want to be in.

As Warren Buffett said: “The market is a device for transferring money from the impatient to the patient.”

The ‘safer’ approach is, when price action is unclear on your chosen timeframe, move higher. Looking at H1? Move to H4. Looking at H4? Move to Daily. You’ll get more clarity that way.

Patience is needed.

As mentioned in the previous videos this week, the Minor FX pairs would be more a more reliable bet in this sort of lower probability week.

In this video we go over what the market is showing for the days ahead in our shortlist of charts for this week:

• EUR/USD
• USD/JPY
• USD/CAD
• USD/SGD
• EUR/NZD
• EUR/GBP
• SP500
• Crude Oil

For the important economic news events this week, you can find an economic calendar here.

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

Contact and follow Dima on Twitter: @dimafpn