Setups That Don't Need Risk or Taper Themes, Like EURAUD
The S&P 500 - a key sentiment gauge - has formed a clear head-and-shoulders pattern while the US Dollar looks primed for a move on Taper speculation. EURUSD, GBPUSD and the yen crosses offer up immediately attractive technical conditions should risk dive in the coming days. Alternatively, a pure dollar swing based on Fed stimulus plans offers up a different set of trading opportunities. Yet, as primed as the market seems for these big-ticket themes, the market has refrained from reviving the major fundamental trends time and again. In today's video, we focus on the trade setups that don't require a tectonic shift in the fundamental backdrop and full momentum to play out.
Find out what event risk can threaten the trade setups discussed in today's video with the DailyFX Economic Calendar.
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.
Sign up for John’s email distribution list, here.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.