Strategy Video: Assessing Breakout Opportunities for the Majors
• A downshift in equity volatility this past session reads like a lull, with traders awaiting the next swell
• Many of the majors have technical bearings well suited for breakout setups
• Success with breakout trades though often falls to a fundamental trigger
There is little reassurance amongst traders with the moderation in activity for the markets recently. The disquiet has many looking for those setups that are best positioned should volatility return and further spur momentum. In the FX market, a number of the Dollar-based majors are looking at clear technical patterns that are well suited for a sudden lurch. However, breaking clean technical boundaries does not insure follow through. A fundamental push provides a better platform for follow through. When the two combine, breakout opportunities a significantly better grounded. We look at both sides of this equation with EURUSD, GBPUSD, USDJPY, NZDUSD and AUDUSD 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.