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  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.72%, while traders in Germany 30 are at opposite extremes with 67.54%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/oDXMDSlKRT
  • Positive Retail sales and PMI releases. GBP/USD may nudge higher ahead of US data releases.Get your $GBP market update from @nickcawley1 here:https://t.co/XJntXbysHN https://t.co/vRE9KHH7aL
Video: Gauging Market Conditions for Pound, Euro and Aussie Trades

Video: Gauging Market Conditions for Pound, Euro and Aussie Trades

John Kicklighter, Chief Strategist

Talking Points:

• In addition to traditional technical and fundamental analysis, market conditions can add color to trades

• Recognizing circumstances for quiet or active market conditions can help us determine proper strategy

• With key event risk for EUR, GBP and AUD ahead; expect significant shift in activity levels

Want to develop a more in-depth knowledge on the market and strategies? Check out the DailyFX Trading Guides we have produced on a range of topics.

For those that monitor the charts, there were some exceptional pattern developments this past week including a strong GBPUSD rally. With a fundamental rundown of the Cable, the swell has its merits. However, the 7-day rally through Wednesday looked exceptional risky when we evaluated it for 'market conditions'. Would the market continue to support the bid on the Pound in the face of event risk next week (UK election) that the market itself has deemed critical (through implied volatility)? This analysis view can help gauge whether a trend will extend or stall, key technical levels break or hold, volatility swell or evaporate. We look over the unique market conditions of the Pound, Euro and Australian Dollar given key disruptions ahead (Election, Greece, RBA) in this Weekend Strategy Video.

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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