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A EUR/USD Break Above 1.3075 Viable Setup Ahead of ECB, NFPs

A EUR/USD Break Above 1.3075 Viable Setup Ahead of ECB, NFPs

John Kicklighter, Chief Strategist

The risk trend current will have difficulty regaining traction with Taper fears leveling off and big ticket events (ECB rate decision and NFPs) due later in the week. Pure technical setups speak to ample opportunities in the majors and crosses for both breakouts and reversals. However, without a strong push of fundamental pressure and given an expected break in market conditions with the upcoming US holiday, quick technical breaks can die well before a trend has time to develop. In today's video, we assess the unusual trading conditions, fundamental themes and technicals ahead as well as discuss trade opportunities for a market that will struggle to jump start a trend.

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.