Trading Video: EURUSD Breakout Inevitable but GBPUSD's More Timely
• EURUSD is a perfect reflection of broader market pressures in capital flows and soft intervention
• Where EURUSD is destined to breakout in the 'medium-term', the Cable will break much sooner
This week is just starting to build momentum. We have opened with volatility in risk trends, but conviction is difficult to muster with so much event risk ahead. We start that data run in the upcoming session with the release of the UK's 1Q GDP release. The market will interpret this data not for its ability to rank the country amongst its peers but rather to measure its impact on interest rate expectations. Interest rate, monetary policy influence, risk trends and technicals are turning into a dangerous mix - perfectly reflected in EURUSD. But when does this mixture catalyze? And, what are the opportunities when it does spark? We discuss this and more 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.