Forex: GBP/USD, AUD/USD Offer Contrast to EUR/USD for 'Risk On' Trade
We've opened a new trading week with little change in bearing for underlying risk trends. However, there were a few remarkable moves from pairs like AUDUSD and GBPUSD that deviate from this benchmark theme. With heavy event risk through the middle of the week (with US GDP, FOMC rate decision and Spanish GDP among them), concern about significant policy or sentiment changes after the event risk will likely curb major trend development. We can either wait for this event risk to generate volatility or untether speculative appetites; or we can look for setups that complement our current trading conditions. We discuss setups from both categories and the defining elements of the market's progress in today's video.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.