News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Bearish
Wall Street
Bullish
Gold
Bearish
GBP/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Bullish
More View more
Trading Video: EURUSD Breakout Has Problems, Pound Trades in Focus Again

Trading Video: EURUSD Breakout Has Problems, Pound Trades in Focus Again

John Kicklighter, Chief Strategist

Talking Points:

EURUSD managed to break a short-term range, but follow through will struggle with the chosen direction

• To overcome quiet market conditions, we need technical breaks that leverage fundamental trends

• Ahead, the Pound has key event risk and appealing trade setups; while the Dollar and Yen face key data

Do you want to see FX market volume and incorporate it into your trading strategy? Sign up for the FXCM Real Volume and Transaction Volume Indicators.

A short-term breakout - like that won by EURUSD this past session - fits the kind of market conditions we have been dealt with as of late...unless it is a break against the prevailing fundamental and technical trends. The benchmark currency pair managed to clear a 6-week trendline around 1.3625 to resolve a terminal range, but the difference between US and Eurozone monetary policy bearings present a serious headwind to generating follow through. This same technical versus fundamental mentality has sapped the drive out of the S&P 500's attempt at a reversal and GBPUSD's break above 1.7000. In today's Trading Video, we look at the key event risk ahead and work out the best scenarios alongside the technical picture for the best trade opportunities.

Sign up for John’s email distribution list, here.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES