TV

Video: Watch for Pullbacks on These Charts & NFP – it’s a New Quarter

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

Click on the video to watch the full breakdown

I jokingly call this week ‘The Unholy Trinity’.

Why? Because it’s the combination of a new quarter, new month, and also NFP week. These are the three times when the markets are – typically-speaking – more unpredictable. And this week is when all of these three overlap.

And if the environment/trading conditions, don’t suit you, it’s wise to be cautious. Or, pick only the very best scenarios.

Regardless, in keeping with consistency of analysis, we have a few charts that look interesting which we’ve narrowed down.

Those that are linked to the Dollar (EUR/USD, SP500, USD/JPY) could be the trickier ones with such a USD-focused week, but the scenarios are marked out, as you can see in the video. Best wait for the market to indicate its desires.

The ‘safer’ options (if you can call them that), would be the Minor pairs, which is why there are many this week on offer.

As with last week, since markets are still trending on the higher timeframes, we’ve got carry-over charts that we’re monitoring.

Do watch out for the busy news week this week. Economic events to watch out for are across a few currencies: USD, EUR, AUD, NZD, CAD

Whatever you observe in price action, remember: “If in doubt, stay out.”

In this video we go over these opportunities for the week:

  • EUR/USD
  • EUR/CAD
  • USD/JPY
  • CAD/JPY
  • GBP/NZD
  • EUR/GBP
  • SP500
  • EUR/AUD
  • NZD/CAD

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

Contact and follow Dima on Twitter: @dimafpn

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