Trade With Precision Free Newsletter

It’s nearing the end of the trading week and with Non Farm Payroll figures out tonight there could be allot of volatility, especially in the Forex market. We need to take this into account as traders and manage our risk accordingly. We don’t generally like getting into new FX positions just ahead of Non Farm payrolls so we thought we would run you through one chart we do like the look of outside of the Forex market.

So far this week the key theme in the FX market seems to be that of Euro weakness. The Euro has been weak for a number of months, however price had been consolidating for the last few weeks. Now it seems the Euro trend is set to continue as this week we have seen further moves to the downside. When we get a very weak currency, we generally see nice trending markets which are the types of markets we like to trade here at Trade with Precision. We are going to take you through a couple of the EUR crosses highlighting what we want to see to get positioned in these markets.

Toby Genaro talks through some technical insights on the S&P 500 Index. Looking at the daily chart Toby would like to see a nice bullish candle close to get long for the next move up.  Today we had rejected a support level after an early push lower so we are looking fairly bullish right now. Toby also takes a look at the Nikkei which is just having a pullback on the daily chart right now. The 18,550 level looks like a nice place for price to pullback to before we look to get long.

NB: For the highest quality viewing click on the wheel in the bottom right hand corner of the video and select 720p.  This will dramatically increase the video image from the default setting.

A question we often get asked by new traders starting out on their trading journey is "How do I find trades?". Often beginner traders can spend hours and hours looking through charts without really coming away with anything worth watching. They get bogged down looking through charts in many different timeframes where they see some timeframes up trending and others down trending. It all just becomes a bit too confusing and they end up wasting hours of their time aimlessly searching the markets with little to show for. The good news it, there is a better way! We will take you through an effective approach you can start using to scan the markets for trading opportunities today!