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Trading Video: S&P 500's Risk Run Stalls, EURUSD Breakout Threat Grows

Trading Video: S&P 500's Risk Run Stalls, EURUSD Breakout Threat Grows

2014-04-25 01:15:00
John Kicklighter, Chief Strategist
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Talking Points:

• The S&P 500's six-day advance came to a close as the market reached levels that require conviction

• A heavy shift in underlying risk appetite is likely the only thing that can rescucitate these markets

• Next week's docket is loaded with potential catalysts, but is there a chance for breakout Friday?

Market conditions change, and our strategy should reflect those changes. We have coded the DailyFX-Plus strategies for Breakout, Range and Momentum to adapt to these market shifts.

Between an abundance of technical breakout setups and extreme volatility readings, traders are growing anxious for trade setups to play out. From a technical perspective, the options are remarkable. Wedges, ranges and mature trends are dry tinder given the proper spark. But it is that spark that we require. We need a push with enough substance to start the market moving and keep it moving. It has to tap into a deeper well of sentiment to alter underlying investor appetite rather than push or pull an individual currency, pair or asset class. The final 24 hours of this trading week is unlikely to live up to that requirement and spur pairs like EURUSD, GBPUSD and USDJPY to their inevitable break. But next week's docket is another matter altogether. We discuss current market conditions and the way to approach / trade them in today's Trading Video.

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