Strategy Video: Are EURUSD, S&P 500 Leading the Market?
• There are strong technical and fundamental relationships in the market that can be exploited
• A strong relation in single-currency crosses or asset classes that sees a deviation presents opportunity
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The S&P 500 has broken to fresh record highs, but other equity benchmarks have yet to follow. EURUSD has toppled 1.3500 support while other dollar-based majors are showing less drive. EURJPY has produced a high profile turn while other yen crosses are still hemmed into congestion. Are these stand out moves leading indicators of broader shifts for their respective currency/market/theme? Or, perhaps they are drives destined to be hammered back into line with the market. We look at a number of these divergence trade opportunities through technical, fundamental and market condition analysis in today's Strategy Video.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.