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
See volume behind the majors during the NFPs and ECB rate decision to gauge your trading approach using the free FXCM Real Volume and Transactions indicators.
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.