Forex: Dow Signals Bear Trend for EURUSD, Sentiment
Though the US elections have passed, uncertainty seems to have intensified for the Forex and capital markets. With a divided executive and legislative branch, the risk of the Fiscal Cliff looks far more daunting. This along with the Eurozone crisis, Chinese power shift and global economic slowdown highlights the market's assumptions that risk will be averted at all costs through external support. With prominent technical breaks from the risk-representative S&P 500 and Dow Jones Industrial Average, the trend potential behind risk-sensitive pairs like EURUSD, AUDUSD, EURJPY and others is far more attractive. We discuss risk trends and its trade setups in today's video.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.