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Trading Video: Think Twice About Those Dollar, Euro, Yen Trades

Trading Video: Think Twice About Those Dollar, Euro, Yen Trades

John Kicklighter, Chief Strategist

Talking Points:

• Key event risk is scheduled to hit the wires this week: including the FOMC rate decision Wednesday

• The Fed decision is likely to carry serious weight for the Dollar and general 'risk trends'

• For the Euro, the fundamental risk is just as high but the time frame and scenarios are far more vague

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Restraint is a virtue when it comes to trading. 'Forcing' a trade that has a significant headwind can materially lower its potential and the habit can harm your trading over the long term. For those that are jumping into short to medium-term trades now, they may be pushing the bounds on fundamental probabilities for Dollar, Euro and 'risk' (Yen) trades. For the majors (pairs denominated in US Dollars), the Fed rate decision on Wednesday offers the kind of detail that can present a policy shift now or give greater clarity for timing the eventual move in the future. Either way, anticipation and the likelihood of volatility is very high. That same focus on FOMC policy also extends to risk trends which branches further out to global equities, high-yield assets and even Yen crosses. Meanwhile, the ongoing Greece debt negotiation saga keeps the Euro hanging between hopeful risk covering and a much deeper tumble amid a crisis of confidence. Are there no opportunities for trades at the moment? No, there are outlets - particularly among the Pound crosses - but the best potential requires some patience. We discuss risks and opportunities 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.