Forex: EUR/USD Finally Corrects but Risk Will Determine Trend
After a remarkable five-day advance, EURUSD has finally taken a breather and slipped back below 1.3100. Corrections to hold within range rather than push key technical levels and develop heavy trends is far more atuned to current market conditions. That said, the EURUSD's retreat hasn't developed momentum of its own. Global equities, yen crosses and other risk-sensitive benchmarks have yet to throw in with the pullback that this FX leader has suggested. In today's video, we look at the risk of breakout and reversal in the context of stunted market conditions. And, of course, we discuss the trades on both sides of the argument as well as those setups that don't depend on 'risk appetite'.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.