Strategy Video: USDJPY and EURCHF - My Favorite Setups Going Forward
• Volatility has exploded in the FX market, but heavy trading doesn't necessarily mean good trades
• USDJPY presents a stretched technical view and a serious fundamental contrast for exceptional potential
• A clash between central banks (ECB and SNB) offers a remarkable EURCHF opportunity that will take patience
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FX volatility has surged this past week, and traders are jumping in to take advantage. Yet, heavy market swings alone don't meet the requirements of a good trade. A setup with a strong technical, fundamental and market condition backdrop along with a well-thought-out plan for execution and risk management becomes more imperative as the markets churn. In this weekend's Strategy Video, I run through two of my favorite setups - USDJPY and EURCHF - with a breakdown as to why they are attractive and what needs to happen for me to jump.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.