Forex: Both S&P 500 and USDollar at Major Support, Which Breaks?
• The S&P 500 has retreated to its 2013's channel support while the USDollar struggles at its own floor
• A heavy risk move can generate strong trade options, but even a steady profile can provide setups
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A favorite benchmark for risk appetite (the S&P 500) and risk aversion (the US dollar) are both sitting at serious support. Regardless of its lean, a meaningful shift in market sentiment can send markets reeling with a number of trading opportunities with each scenario. Yet, a resolution to this speculative standoff may be more difficult to resolve before the end of the week now that the NFPs has been delayed. In today's video, we discuss risk trends with a focus on the dollar and yen crosses, more elemental fundamental (yield forecasts) for different pairs, and much more.
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.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.