Forex: Heavy Event Risk and Key Technical Levels Offer Trade Setups
- The AUDUSD and USDJPY headline key trade setups across the yen and dollar-based crosses
- Technical patterns are attractive, but we need to see the bigger picture for successful setups
- Though there is a BoJ, ECB and BoE rate decision ahead; the NFPs will still dominate Thursday
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While AUDUSD and USDJPY present particularly enticing technical setups, their is considerable trade opportunity across the dollar and yen-based pairings. Seeing the tension build on such clean range, trendline, head-and-shoulders and other technical patterns is tempting for traders who want to see more substantial moves from the FX market. Yet, false starts, fundamental hurdles and market conditions can turn ideal setups into something very different. In today's video, we run through the pulsating charts and discuss all the elements that can add up to better trades.
Find out what event risk can threaten the trade setups discussed in today's video with the DailyFX Economic Calendar.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.