Forex: EUR/USD and Yen Crosses at Extreme Risk of Retracement
We don't need a strong reversal and trend to feed a turn in EURUSD, S&P 500 and risk-based assets. All we need is what comes natural to the market - a correction to curb overextended trends drives. Speculative participation is thin and many of the big ticket items of the year-end period (Fed decision, Greece aid decision) have passed without a prolific impact on price action. In today's video, we discuss the divergence in fundamentals, technicals and market conditions; and how it will resolve itself. We also highlight the most prone currency pairs to correction: the New Zealand dollar and Japanese yen crosses.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.