A EUR/USD Breakout to Start the Week, USD/JPY Trend Later
Don't expect the volatility we have seen over the past few weeks to ease. With the S&P 500 extending an incredible drive to record highs while the USDollar stabilizes, there is serious setup for heavy event risk next week. The action starts early Monday morning with China reporting its 2Q GDP figures. For a stimulus-focused market, though, the real fundamental threat rests with Wednesday's Bernanke testimony. We discuss what you should watch for next week as well as the trades that best fit the different scenarios for risk trends, stimulus expectations and volatility levels in the weekend 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.