Forex: US Stocks Slide, EURUSD and GBPUSD Bear Trends More Likely
The US markets were back on line following the downtine imposed by Hurricane Sandy. With the global speculative circle once again closed, Forex traders were looking for volatility levels to rebound and a return to trends based on risk sentiment. Yet, a bearish reversal from EURUSD and the S&P 500 wouldn't this past session fell well short of a clear trend and the market's hopes. Liquidity may be topped off, but taking the next step to a lasting bearish trend takes far more fundamental conviction. We look at underlying risk trends, what it will take to get them moving and the trade setups that come with different scenarios in today's video.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.