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Forex: Dollar and S&P 500 Prepare for FOMC-Led Breakout

Forex: Dollar and S&P 500 Prepare for FOMC-Led Breakout

John Kicklighter, Chief Strategist

The FOMC Minutes has become one of the more market-moving event risks over the past few months. That is a dangerous proposition for the USDollar which has found itself extremely prone to breakout conditions. Whether the Dow Jones FXCM Dollar Index recovers from trendline support or breaks into the next bear leg, a heavy move for the benchmark currency is expected from this report. Looking back to the dollar's reversal from the June minutes as well as what an escalation to risk trends can mean for the broader capital markets, we discuss this catalyst and the trade setups it presents in today's video.

Find out what event risk can threaten the trade setups discussed in today's video with the DailyFX Economic Calendar.

Expect breakouts? Use the DailyFX Breakout 2 strategy to signal or confirm setups!

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

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