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Forex: EURUSD, EURJPY and S&P 500 Locked and Loaded?

Forex: EURUSD, EURJPY and S&P 500 Locked and Loaded?

John Kicklighter, Chief Strategist

Talking Points:

• The temptation to position for reversal, breakouts and large swings is building

S&P 500 has formed a tempting head-and-shoulders pattern and EURJPY is wobbling above 141

• Yet, where technicals are tempting, fundamentals timing and market conditions give reason for pause

What kind of Trading best suits you? Technical or Fundamental? Short-term or Long-term? Take our Trader Survey and find out.

There tally on breakout, reversal and trend potential charts has grown sharply. Yet, that head-and-shoulders S&P 500 pattern and heavy EURUSD resistance are only one part of the trading equation. To transition from a knee-jerk technical move into a meaningful follow through trend, we need a key fundamental theme traders can fall behind and market participation to support it. We know December is the most distressed month for volume (participation) when looking at benchmarks like S&P 500. As for the fundamental fires, the risk and monetary policy themes are struggling for attention and don't have a conducive timing. We discuss the trade potential in these seductive charts in today's Trading Video.

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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