TV

Video: Watch These Setups on CAD and JPY Pairs, with Big News Incoming

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

Click on the video to watch the full breakdown

If you watched my previous video on the best indicator in trading, you’ll know the significance of reading the charts with news in mind.

It’s all well and good analysing the markets, but when a big news release like this week comes out, expect the unexpected: reversals, big spikes in both directions, impulsive moves… So the confirmations of moves for this week, will come after the relevant release on your currency (based on the pair you’re trading).

Timing is everything. Use it to your advantage.


Here’s our shortlist of opportunities for the week:

  • NZD/USD – Sell
  • GBP/NZD – Buy
  • EUR/JPY – Pending, after News
  • EUR/CAD – Sell
  • EUR/GBP – Sell
  • AUD/NZD – Buy
  • Gold – Sell

This Week’s News Calendar

Going by the calendar, this week, the focus is on: CAD and JPY, and also EUR to an extent.

Central Bank rates are a big deal when it comes to volatility. Spikes are to be expected, but pay attention to the candle bodies on D1 chart. They will hint at the intentions of the market.

Yes, we have our bias on the charts, but let’s see if the news volatility lines up with that bias, or has other things in mind.

Looking for Reactions Off Significant Levels

Will the Rate release produce a continuation or a reversal? You probably ask yourself this kind of question. The answer is: have a bias, but don’t predict – instead, react to what the chart is telling you.

Watch for key levels on the chart. The market will often move towards them on news and/or react to them. Once you see a reaction, you can decide how to respond to it.

This week we have levels on NZD/USD. You can see the market moving between them. When we reach them, that’s where the higher probability action usually occurs.

Here’s the EUR/JPY. Let’s see if the EUR and JPY news will blow through the nearby levels, or reverse on them.

Notes for Your Trading Week

  1. The levels are reference points. Not reasons to enter a trade.
  2. You DON’T HAVE TO enter a trade just because the market is moving. Don’t let it hypnotise you.
  3. Trying to catching reversals is low probability.
    Trading in a range is also low probability
    Catching trend continuations is high probability.
    …Before entering, ask yourself, which one of these environments am I entering now? Adjust your risk according to that

See you on Wednesday for the next update.


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

Contact and follow Dima on Twitter: @dimafpn

Image by TheInvestorPost, on Pixabay.

(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.)

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