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.
Find out what event risk can threaten the trade setups discussed in today's video with the DailyFX Economic Calendar.
Use the consecutive bar indicator to measure the historical significance and over-extended level of the markets.
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