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Forex: EURUSD Fails to Break 1.2900 As Risk Stalls, Fed Holds Course

Forex: EURUSD Fails to Break 1.2900 As Risk Stalls, Fed Holds Course

John Kicklighter, Chief Strategist

Though US equities and the US dollar may have both forged key breaks for a deeper risk aversion current this week, a first step does not necessarily guarantee trend development. In fact, follow through on such a sizeable shift in sentiment will be difficult as the economic docket fills out. Those holding out hope for a last second fundamental support will be looking to Apple earnings and US 3Q GDP for a rescue. However, after the Fed hold this past session and a crush of optimistic Euro-crisis rumors; gravity is starting to pick up on risk trends. We discuss the fundamental hurdles over the next 48 hours and what it means for trading in today's video.

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