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Video: EURUSD Volume Hits 3-Year High as Dollar Rally Stumbles

Video: EURUSD Volume Hits 3-Year High as Dollar Rally Stumbles

John Kicklighter,

Talking Points:

• Strong runs for both the US Dollar and equities faced modest corrections this past session

• While the Greenback's run is well established, the recent risk aversion move is still undeveloped

• With the FOMC ahead next week, big rates and sentiment trends may be disrupted

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.

The Dollar suffered its biggest drop in a month this past session. Yet, we need to put this move into perspective. The drop is dwarfed by an eight, straight month rally and occured after touching an 11-year high. This is a modest pullback in the span of a larger bull trend - a trend that growing more mature and is looking ahead to a critical event risk next week (the FOMC decision) to confirm traders' convictions. Moderation in this context is neither unexpected nor is it fatal to the bigger trend. The S&P 500's rebound from its recent tumble, however, is more influential. While there has been a broad move towards risk aversion, it is still a fledgling move that has yet to make the transition from short-term speculative swings to more systemic deleveraging. We look the dominant themes behind current market moves 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.