Forex: Event Risk Timing Key for EURUSD, EURJPY, AUDUSD Trading
• There is lower probability that the market at large will take a large position ahead of the ECB, NFPs
• Meanwhile, we see the strong, event-driven moves in pairs like EURUSD are slowly starting to retrace
• In contrast to the more distant fundamental risk, the RBA decision is up today
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The markets are still buzzing from the serious swings this past week. Hefty moves for the euro, dollar and general risk hold the hope of large scale trends or an equally prolific reversal. Yet, more than direction, the presumption of momentum may be more far-fetched. We don't know how the key event risk for this week - NFPs, US 3Q GDP, ECB - will come out; but we do know when. And, that time frame can disrupt, intensify and confuse the masses in equal parts. In today's Trading Video, we talk about trading conditions before such heavy event risk as well as the immediate event risk in the RBA rate decision.
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