Dollar Soars to Three Year Highs, Should You Jump on Now?
The Dow Jones FXCM Dollar Index (ticker = USDollar) cleared May's resistance and advanced to three-year highs this past session. In turn, EURUSD broke below 1.3000, USDJPY cleared 100 and GBPUSD dropped 1.5200. The technical implications of this move is tempting, but the mix of fundamentals and market conditions that we face as the week wears on can dramatically change our pace and bearings. In today's video, we discuss what the risks are moving forward and how to assess our trades with an appreciation of the big-ticket event risk and liquidity fluctuations expected.
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.