Forex: EUR/USD, USD/JPY Following Risk Trends and Currency Wars
The quick pullback from EURUSD and yen crosses - spurred by troubling fundamentals and efforts to talk currencies down - has found limited follow through. The unique fundamental catalysts for both setups was enough to lead to short-term breakouts, but trend generation clearly requires more to shift the speculative masses to the same trade. As always, the greatest potential for market movement are underlying risk trends - which have begun to stir in the FX market. And, a new driver threatens to throw its weight around as the market recognizes its presence: competitive devaluation (called 'Currency Wars'). We discuss both of these bigger themes along with trade setups in today's video.
New to FX? Watch this Video (Initial login required)
Sign up for John’s email distribution list, here.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.