Forex: Weighing Breakout Risk of EURUSD, GBPUSD and USDJPY
• Monday opened to a bounce in risk but restraint in general trends and volume
• Fear of Wednesday's Fed event hangs over the market as Taper talk threatens to revive volatility
Do you want to trade an individual currency and/or broader trend developments? Use the Mirror Trader Currency Baskets to place a trade.
We are in the last full week of trading, and each of the majors' charts is threatening reversal. Yet, activating a market-wide risk trend is increasingly difficult. As we trade through the last full week of the year and with the market's attention turned to a FOMC rate decision lurking just a little later this week, a sense of fear is mixing with complacency. In today's Trading Video, we discuss the path of risk trends over the next 24 hours in the lead up to the Fed rate decision along with the market's second most promising (threatening?) driver: relative monetary policy.
Sign up for John’s email distribution list, here.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.