News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Forex: EURUSD Breakout Struggles for Drive, Yen Watches BoJ

Forex: EURUSD Breakout Struggles for Drive, Yen Watches BoJ

John Kicklighter, Chief Strategist

Talking Points:

• Last week's high-profile breakouts from EURUSD (1.3850) and AUDUSD (0.9080) have stalled

• Whether bullish or bearish, risk on or risk off; meaningful trends require drive

• Ahead, updates on monetary policy expectations for Japan, the EZ, UK and US will drive FX

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

With EURUSD clearing a multi-year trendline and AUDUSD completing a inverse head-and-shoulders breakout last week, we should have been open season on dollar selling to start this week. Instead, we are plagued by the same indecision on the bearish dollar break as the bullish US equities push. Whether we are talking technical moves, risk trends, monetary policy or any other driver; we still need to make the jump from initial thrust to lasting trend. As we wait for either risk appetite or dollar to cave - one will eventually give to the benefit of the other other - there are more pressing concerns. Monetary policy is at the top of the list to start the week with speculation surrounding BoJ stimulus, ECB balance sheet declines, BoE hike potential and Fed Taper talk all actively guiding our markets. We discuss the state of the markets and its active corners in today's Trading Video.

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.

DISCLOSURES