Trading Video: What Will Decide EURUSD Trend, Range or Reversal?
• With momentum behind risk and rate expectations themes easing, there is still a bias for EURUSD
• GBPUSD's return to a year-long bull trend or break of 1.6750 may be decided by UK CPI data this week
• Risk trends are a constant threat, but there is a hierarchy of opportunity starting with USDJPY
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.
Another effort to generate enough momentum for breakout velocity grew winded this past week. Some pairs like EURUSD and GBPJPY forged serious technical breaks, while others such as GBPUSD and USDJPY came up short. Looking ahead to next week, it is important to plan for scenarios where burgeoning themes fade or otherwise finally take control of larger market trends. We discuss the circumstances and trade opportunities for 'status quo', a new era of activity and even those that may perform regardless of the systemic disposition in this weekend Trading Video.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.