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The Dollar, Euro and Pound Face Decisive Levels and Key Event Risk

The Dollar, Euro and Pound Face Decisive Levels and Key Event Risk

John Kicklighter, Chief Strategist

Talking Points:

• The Pound generated the biggest move this past week, but a trend will likely require a stronger push

Euro traders should be wary of next week's daily Greece threats and Euro-area 1Q GDP releases

• Both the Dollar and broader 'risk' trends are groping for direction but don't have definitive drivers

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Volatility is rising once again across the financial markets as short-term technical boundaries come into view. The transition from congestion to breakout looks nigh, but will clearing hurdles on the chart and heightened activity levels push the market to revive meaningful trends? The Dollar is on the cusp of extending its reversal in a meaningful way, but motivation behind the move is difficult to muster given its monetary policy advantages. Meanwhile, equities ended the week on a strong foot lead by the S&P 500's post-NFP charge. Here too, months of congestion shows the reticence to feed this six-year trend further. For serious motivation, the Pound and Euro will be at the top of most FX traders' lists. The Sterling's rally this past week was generated from a particular event. Was the UK election trend fodder or merely a flash in the pan? Daily deadlines for Greece and Eurozone GDP figures will mark the Euro as a high-risk market. We discuss the opportunities and risks ahead in this weekend 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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