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Should we Trade GBPUSD, AUDUSD, EURJPY Technical Breakouts?

Should we Trade GBPUSD, AUDUSD, EURJPY Technical Breakouts?

John Kicklighter, Chief Strategist

There are a number of enticing, short-term technical trade setups presenting themselves at the moment. However, before we move on breakouts and emotion, we have to establish reasonable expectations. With the global financial market waiting for a definitive sign on risk trends and the Fed's Taper plans, there is a possible anchor on trend development that requires the support of meaningful fundamental support. With the market looking for a greater level of certainty - and with June NFPs, 2Q US GDP and the July Fed decision scheduled next week - what should we expect from the USDollar's ominous test of support? We discuss this and more in today's video.

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.