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Forex: Yen Crosses Hold Critical Support, EURUSD Ready for a Break

Forex: Yen Crosses Hold Critical Support, EURUSD Ready for a Break

2013-08-29 02:05:00
John Kicklighter, Chief Strategist
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An emerging market collapse and surge in oil prices have added to fears of market-wide risk aversion. And yet, standard bearers for positioning - the S&P 500 and US dollar - prove that panicked deleveraging is not yet contagious. There are still individual trading opportunities to be found in this uneven capital shift, but the heaviest trends would be borne from a universal effort to flee low-yielding, high-risk positions for the comfort of known safe havens. In today's video we discuss EURUSD and other immediately positioned safe haven setups, Kiwi pairs that are primed for risk-based stability and FX trades that fall outside of the risk scale.

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

Use the DailyFX-Plus Technical Analyzer to identify possible trade setups.

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