Forex: EUR/USD Near Breakout, GBP/USD Risk Reversal, NZD/USD Awaits RBNZ
Pairs like EUR/USD, GBP/USD and USD/JPY are offering up technical patterns that suggest an abrupt increase in volatility and trend development is at hand. However, technicals alone are unlikely to fulfill the potential of the stored up energy. That is where the swell fundamentals and market conditions come in. Whether we are talking about a reversal in the strongest rally from the Dow in 16 years (a sign of shifting risk trends), growing strain in the Eurozone financial system or something as blatant as the RBNZ rate decision; there are far more sparks for this combustible market. We discuss the multiple fundamental risks and trade scenarios in today's video.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.