Trading Video: A Reshuffle in Euro, Yen and Pound Trade Potential
• The ECB rate decision was top event risk this past session - leading EURUSD to an extreme volatility swell
• USDollar has stabilized at critical support, but a yield upgrade is needed to entice bulls
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EURUSD went from one extreme of the volatility spectrum in one day. A month of record low activity was met with an extreme increase in volatility this past session after the ECB. The fundamental development from this past session was significant, but the market is particularly nervous about playing trends after so many false starts. We discuss the Euro's outlook, the building potential for risk trends and its yen cross influence, as well as the dollar's primary catalyst 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.