Which Is the Better Range Opportunity: AUDCAD, EURUSD or GBPJPY?
• There are three different general phases that market transitions through: range, breakout and trend
• With the seasonal lull, proliferation of high-profile technicals and low event risk; range is more influential
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It is important that we trade the market we have rather than the one we wish we had. There are three general phases that the market evolves through - range, breakout and trend - and conditions are supporting one in particular. With 'Summer Lull'-like trading activity showing through, technical levels growing more obvious and prominent, volatility levels cooling off, and the economic docket lacking for heavy-hitters; we have conditions that are more supportive of range conditions. While this general overview of the market will not contain all pairs, assets and participants; it carries the greatest potential. In today's Strategy Video, we first run through the check list to establish market conditions and then list some stand out currency pairs that best suit conditions, that are highly risky given the circumstances and those that are in between.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.