While We Await USD/JPY and S&P 500 Trends, Euro Presents Opportunities
While a systemic shift in sentiment presents the most prolific trade opportunities with the yen crosses, dollar and S&P 500 amongst many other setups - we have yet to see this scenario take over. Day-to-day speculation surrounding the Fed's Taper schedule is among a few high-level sparks that present a serious risk to stable markets moving forward, but taking long-term trades without confirmation of commitment and momentum presents inherent risk for the swing trader. However, as we wait for the big themes to catch and present longer-term trends, there are trade opportunities that can be found on lower time frames and don't require a heavy risk wind. We discuss these different scenarios and trade options - with an emphasis on the Euro crosses - in today's video.
Market conditions change, and our strategy should reflect those changes. We have coded the DailyFX-Plus strategies for Breakout, Range and Momentum to adapt to these market shifts.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.