Best Instruments to Trade This Week

This week, there are a few high-probability trade ideas I’d like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.

GBPAUD

After price initially broke below the low marked with the horizontal arrow, we see price create a possible retracement move up towards the Moving Average array. At the top of the previous high we also see a rally-base-drop supply zone and the 200-Period moving average acting as confluences in support of a bearish reaction from the marked supply.

Analysts’ Expectations:

  • Direction: Bearish
  • Target: 1.73020
  • Invalidation: 1.76390

EURCAD

EURCAD is currently in an interesting zone. Price can be seen seemingly trying to decide whether to go a bit lower, to tap into the demand order block, or to simply react from the current area of support. Either way, there is a high probability that the price would go bullish anytime from now.

Analysts’ Expectations:

  • Direction: Bullish
  • Target: 1.45625
  • Invalidation: 1.44050

NZDUSD

If you check NZDUSD on the Daily timeframe, you will notice that the 50-period Moving Average has already crossed above the 200-Day MA (Moving Average). When you correlate that with the chart above, you will see why I have chosen this particular setup for the week. After the break above, the high marked by the horizontal arrow, price comfortably established a bullish trend. This is why I am positive that price would provide us ample trading opportunities from the drop-base-rally demand order block.

Analysts’ Expectations:

  • Direction: Bullish
  • Target: 0.68370
  • Invalidation: 0.61080

CONCLUSION

The trading of CFDs comes at a risk. Thus, to succeed, you have to manage risks properly. To avoid costly mistakes while you look to trade these opportunities, be sure to do your due diligence and manage your risk appropriately.