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EURUSD Faces Break on Another Greece Deadline, Dollar Reversal Risk Lingers

EURUSD Faces Break on Another Greece Deadline, Dollar Reversal Risk Lingers

John Kicklighter, Chief Strategist

Talking Points:

• EURUSD has worked its way into another technical break situation just in time for another Greece deadline

• The Pound was mixed after the UK CPI data showed an uptick in core figure, labor data and BoE minutes ahead

• As USDollar consolidates and threatens a correction, many majors are carving appealing technicals

Want to develop a more in-depth knowledge on the market and strategies? Check out the DailyFX Trading Guides we have produced on a range of topics.

Ahead, we have another round of event risk that will agitate key fundamental themes behind the FX and capital market. Traders will need to keep close watch on the volatility and trend potential for the Euro, Yen, Pound, Dollar and risk trends in the upcoming 24 hours. The most talked about theme these past weeks is the Greek standoff with the Eurozone over its bailout terms. Another deadline comes due Wendnesday with the ECB weighing the country's emerging liquidity access as EURUSD works its way into the final phase of a terminal wedge. UK CPI didn't renew the Pound's tumble despite a modern record low. Jobs data and the BoE minutes may offer more tangible contribution to trend. For the Yen crosses, the BoJ decision will matter far beyond an announcement of no change in QE. Meanwhile, we should keep close tabs of general 'risk trends' and the USDollar's flirtation with a technical correction. We cover these catalysts and trends 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.

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