Video: Watch for These Breakouts on Minor Pairs & Dollar Direction Imminent

Here’s our shortlist of opportunities for the week and where we’re currently at:

• EUR/USD
  Market has broken to the downside. Now we wait to see if there’s a reaction and confirmation for a Buy, or a further drop lower, which signals a Sell. Remember we have multiple EUR and USD news this week…
  
• CAD/JPY
  Market has headed higher, defying the Bearish analysis. So now, waiting for price to break past the last major high, to show it indeed wants to head up. Or, we reverse and go lower – so if it breaks multiple structures to the downside, and a Daily candle comes out weak, then we look to engage. Not yet though.
  
• EUR/JPY
  Same as CAD/JPY.
  
• EUR/CAD
  Stuck in a range. Waiting for some kind of breakout (Buy signal) or fakeout (Sell signal). Either one will indicate the direction. Long term, preference is to Long this pair.
  
• WTI Crude Oil
  With a small drop, signs are of confirmed weakness, as expected. But we’re still in a range, waiting to break our key levels, before we engage. So no action here either yet.
  
• AUD/NZD
  The pick of the week. But it’s still, like the others, stuck in a range. The move will come at some point, in either direction. Everything is marked out, so will be ready to participate when the market finally does reveal its hand.
  
• Gold
  Still biased towards the Sell, but we haven’t yet broken the key level to the downside. Further waiting is neeed.