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EURUSD Breaks 1.3000: A New Bull Trend or Reversal Waiting to Happen?

EURUSD Breaks 1.3000: A New Bull Trend or Reversal Waiting to Happen?

John Kicklighter, Chief Strategist

The risk-sensitive markets resynced Thursday with the Dow Jones Industrial Average and EURUSD leading the way. Revived correlations suggests speculators are back on the same page, but we have to take a hard look at the positive bearing for investor sentiment. With technical resistance nearby and questionable fundamentals adding to a backdrop of larger problems, bullish trends would be a struggle while reversals can ignite momentum. We look at Friday's NFP figures as a possible catalyst for risk trends as well as the growing swell of activity and events next week in today's video.

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Meet the DailyFX team in Las Vegas at the annual FXCM Traders Expo, November 2-4, 2012 at the Rio All Suite Hotel & Casino. For additional information regarding the schedule, workshops and accommodations, visit the FXCM Trading Expo website.

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