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Trading Video: Are Breakouts, Reversals Possible Ahead of the Fed?

Trading Video: Are Breakouts, Reversals Possible Ahead of the Fed?

2014-06-17 03:38:00
John Kicklighter, Chief Strategist
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Talking Points:

• A shift in both investor sentiment and the dollar will likely wait at least until the FOMC decision

• Fundamental and technical appeal of pairings like EURUSD and GBPUSD are clouded by the Fed

• We look at US, UK and New Zealand interest rate forecasts

Find help with your trades and trading strategy from DailyFX analysts with DailyFX on Demand.

EURUSD looks ripe for a break from a tight range and GBPUSD is standing at the threshold of major 1.7000-resistance. Yet, with the Fed ahead, strategy is imparative. Tentative breakouts or reversals from stimulus-sensitive capital markets or dollar-based majors are not unlikely in these trading conditions. But follow through and conviction with such a prominent uncertainty directly ahead is very unlikely. We look at the genuine appeal of different setups in today's Trading Video.

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