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EURUSD: Should We Position for a Breakout Or Range?

EURUSD: Should We Position for a Breakout Or Range?

John Kicklighter, Chief Strategist

Risk trends are rising and the dollar is on the verge of a pivotal turn lower, but does that give the green light for EURUSD or the S&P 500 to rally higher in the near future? Speculative appetites have certainly diverged from the fundamental outlook, not particularly unusual for markets. However, progress for risk-positive (anti-dollar) trends still falls back onto the general conditions of the markets. To sustain and build upon such a the deviation (to provide progress to this nascent trend), we need growing volatility and building participation. That is not the market backdrop we are currently working without however.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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