Strategy Video: Evaluating EURUSD, GBPUSD, USDJPY Breakout Potential
• Not all of the scenarios look ideal through technical, fundamental and market condition analysis
• EURUSD is a medium-term opportunity, GBPUSD will struggle but the Yen crosses have better mix
There are a number of major currency pairs - and other asset benchmarks - that are close to bullish or bearish breakouts. Yet, are these technical patterns that are likely to play out? What is their potential for follow through? Is the risk/reward ratio and time frame adding up? In today's Strategy Video, we use a number of the concepts we have discussed recently (three analysis types, time frames, risk-reward, potential versus probability) and evaluate the trade potential for EURUSD, GBPUSD and the Yen crosses.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.