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Forex: EURUSD and AUDUSD Reversals Require Heavy Fundamentals

Forex: EURUSD and AUDUSD Reversals Require Heavy Fundamentals

2013-08-20 02:41:00
John Kicklighter, Chief Strategist

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.

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

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