Forex: EURUSD, GBPUSD, EURJPY, SPX - Which has the Greater Potential
• There were a number of fundamental themes last week that mimicked but didn't spark deeper trends
• This coming week, we have the event risk to awaken risk or carry on dalliances with tangents
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The FX markets offered us a taste of active trading on benchmarks like EURUSD, GBPUSD and EURJPY this past week. But, is this promising bout of volatility going to last...will it transform into something more prolific? To develop momentum on market-wide trend, the fundamental drive must be upgraded from what we were working with this past week. While the dollar's six-day run is a rally for a favorite safe haven, it doesn't necessarily reflect a risk trend-derived move. With NFPs, US 3Q GDP, the ECB, BoE, RBA and many other big-ticket items this coming week; we can see a web of individual volatility events or the development of a deeper current. We discuss the potential themes and trades for the coming week in the Weekend Trading Video.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.