Strategy Video: Which is the Better Breakout Candidate - AUDUSD or EURJPY?
• If the recent moderation in volatility proves temporary, various breakout opportunities may trigger
• Breakouts are more than just technical patterns though, fundamentals and market conditions are critical
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What makes a great breakout candidate? Most look for the textbook technical setup and assume the rest will fall into place. Yet, it is the follow through where the trade is made. While the chart pattern is an important piece of the puzzle, the fundamentals and market conditions are arguably more important elements for determining the success of breakouts - in other words, whether they find follow through. If we give even hand in our assessment of such scenarios based on market conditions, fundamentals and technicals; how does the picturesque AUDUSD compare to the risk-leveraged EURJPY? We discuss breakouts conditions 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.