Analysis of the high probability opportunities for this week in Forex, Indices & Commodities.
Click on the video to watch the full breakdown
Two days have passed but we’ve still got a combination of the most major news to unfold in the markets, this week:
- USD – Rate announcement & FOMC
- GBP – Rate announcement
- USD – NFP
- NZD – Statement & Speech
On many of the charts, if you haven’t made use of Monday and Tuesday, we’ve now reached into price points of uncertainty where the markets can go either way. It’s an environment of uncertainty.
And we don’t want to trade 50/50 environments.
If there’s any action to take, it’s patience and preparation.
As one wise trader once said: “No trade is a trade.”
Part of managing risk involves deciding when not to take any risks.
The minors (or crosspairs as some call them) are a better choice in this type of environment, where the USD is being choppy and where we have some big news. But only – as ever – if it makes sense from a high probability point of view. Risk control comes in again. Today, it may not make sense. Watch the video for more clarity on each pair on this week’s shortlist.
Apart from that, stocks continue to drop, and the S&P index is setting up for another drop, slowly creeping into our area of interest to make use of the continuation Sell idea. Best wait though, as with the rest of the charts this week, for those big news announcements to hit first, and see if the resulting price action aligns with what was planned.
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.)