Is it Time to Buy a EUR/USD Reversal?
US equities advanced to open the week while the dollar eased back from its multi-year breakout on Friday. Normally, this would speak to positive risk trends and thereby a clean, fundamental rebound opportunity from the short-term oversold EURUSD. Yet, there is reason to question this attractive technical move. Sentiment isn't as convincing as the S&P 500 makes it out to be - and even the progress with Greece's financial troubles comes with serious caveats. We discuss the EURUSD backdrop as well as the trade opportunities for risk on, risk off and risk flat scenarios going forward 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.