Trading Euro and Pound with ECB, BoE and Holiday Conditions
The next 24 hours can prove very volatile, but don't look for new trends to develop for EURUSD, USDJPY and global equities. In the upcoming session we expect the European Central Bank (ECB) and Bank of England (BoE) rate decision. Though few changes have resulted from these policy gatherings over the past six months, there is higher risk that both the central banks and market will react this time around. However, even if these events prove market-moving; we must be selective with our setups. With US speculators offline for the Independence Day holiday and fear that Friday's NFPs will stoke Taper forecasts, trading in the final 48 hours of this week can be treacherous. We discuss these important themes and the trade setups 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.