Analysis of the high probability opportunities for this week in Forex, Indices & Commodities.
Click on the video to watch the full breakdown
Sometimes, all it takes is a bit more patience.
We’ve now seen – with a bit of synchronised CPI news volatility – the scenario we were waiting for play out on the dollar.
The reversal has hit the market, and the resumption of the uptrend on the dominant dollar is now in play, which of course, makes our probabilities and decisions this week, even easier.
Yes we’ve been talking about a strong dollar for some time now on this channel, but with good reason. It just hasn’t lost steam and every retracement is a chance to go back in.
Therefore, the bias on USD-based pairs is clear now. And it follows that the scenarios have become still higher probability. I’ve outlined the ideas in the video. You won’t be surprised to see that the week is largely filled with USD pairs. (But manage your risk as always. Just because you have many charts available to you, and you could trade them, doesn’t mean you should.)
The second opportunity worthy of note is EUR/GBP – for the same reason: we’re finally resuming a much bigger higher timeframe trend (if the analysis is correct). What that means to you is, if you make the most of the opportunity on a smaller timeframe, you could be in for a long-term, high reward ride. We have a big swing likely to have been created now, anchoring in a low point in this market.
As for the others…. Well, CHF/JPY is a continuation of the bullish idea from last time, and I’ve thrown in GBP/CHF and EUR/NZD too, because their price action has shown momentum that can be capitalised on – even if it’s not anticipated to be for very long. A trade is a trade, right?
In this video we go over these opportunities for the week:
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.)