Weekly Analysis of the high probability opportunities for this week in Forex, Indices & Commodities.
Click on the video to watch the full breakdown
Is this year going to end with a bang?
It’s the last realistic trading week of the year, and what a busy week of news we have…
- USD – CPI, Rate announcement & FOMC
- CHF – Policy Rate
- EUR – Refinancing Rate
- GBP – Bank Rate
- Speeches on NZD and CAD
USD Dominates Attention
Such is the scale of the Dollar news, it means no market is immune from its effects. So again: Manage Your Risk.
Our biases are set out for now, until the Dollar says otherwise – post news. Long Dollar; Short all those against the Dollar. We therefore have the same Sell direction on EUR/USD, Gold, and Oil prices. Now it’s a case of waiting on the price action to create a signal trigger.
We’ll reassess USD during the week, but if you’re hesitant, the safer bet would be to go with the Minor pairs.
AUD/CAD – Still favouring the uptrend, just waiting for the price action clues; no big news either after Monday
GBP/CAD – Same again, but more cautious in waiting for the GBP news on Thu, in case the market continues to range. If we have our trigger before the news, it’ll be more likely that the news release will take the market into higher prices faster.
AUD/NZD – Following on from last week’s high probability scenario, this week may be the one we’ve been waiting for to Buy… Price action is developing nicely.
Watch the video for this week’s areas of interest and trade scenarios.
In this video we go over these opportunities for the week:
- WTI Crude Oil
Written by: Dima Mihailovich, Technical Analyst for Forex Prop News
Contact and follow Dima on Twitter: @dimafpn
Image by Photo by Karolina Grabowska, on Pexels
(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.)