Trading Video: Amid China GDP, Portugal Fears and Yellen, EURUSD My Top Trade
• Though it may not play out in the opening hours of next week, EURUSD is my favorite setup going forward
• Amid so many different indicators, tech patterns on crosses and themes; most scenarios align for EURUSD
See volume behind the majors during the NFPs and ECB rate decision to gauge your trading approach using the free FXCM Real Volume and Transactions indicators.
There is plenty of short-term trade potential heading into the coming week, but scope still falls to the level of volatility in the financial system. Though there are more than a few themes and catalysts leveling their sights on complacency - a withdrawl of central bank stimulus, European financial system cracks, Chinese GDP, etc - we have seen too many false starts not to maintain composure and a health dose of skepticism. In this weekend Trading Video, we cover many of the top fundamental drivers currently on tap, the scenarios with the greatest market-moving potential and the best combination of technicals. Through it all, EURUSD still comes up as my favorite, medium-term opportunity.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.