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Video: Trading the US Dollar Breakdown

Video: Trading the US Dollar Breakdown

2013-05-01 15:35:00
David Rodriguez, Head of Product
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Video summary: Our sentiment-based trading strategies have done well selling the US Dollar as it breaks key lows, here's how we look to position ourselves in the days ahead.

The Momentum2 system remains attractive as it trades the US Dollar breakdown, while the Breakout2 strategy looks less attractive as voltatility falls across the board--particularly in Japanese Yen pairs.

forex_video_us_dollar_bets_attractive_on_key_break_body_StrategyOutlook.png, Video: Trading the US Dollar Breakdown

This afternoon brings the critical US Federal Open Market Committee interest rate decision, while Thursday's European Central Bank interest rate decision and Friday's US Nonfarm Payrolls data round out the week of critical event risk.

We can't predict how markets will react to the FOMC, ECB, and NFPs, and as such we'll continue trading on lower leverage than normal given clear uncertainty in forex markets.

See a promo on FXCMApps.com that provides all 6 DailyFX PLUS Trading Strategies free of charge

forex_video_us_dollar_bets_attractive_on_key_break_body_1a.png, Video: Trading the US Dollar Breakdown

Follow and contact David via Twitter http://www.Twitter.com/DRodriguezFX

Sign up for trade updates via David's e-mail distribution list.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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