Forex: EURUSD and AUDUSD Reversals Require Heavy Fundamentals
Attractive technical patterns abound in the FX market, but these setups are more likely to fail than thrive without the support of a key fundamental theme. The temptation of positioning for the EURUSD's head-and-shoulders or AUDUSD's reversal is strong, but we have seen countless examples - NZDUSD a recent case - of opening technical moves falling apart. While we shouldn't drop our vigilance over the big-ticket fundamental developments, it is important to establish trade setups that match current conditions or fall outside the reach of debilitating 'risk' or 'Taper' themes. We discuss this fundamental - technical marriage as well as the trade setups that it supports in today's video.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.