Forex Strategy Video: EURUSD, AUDUSD or GBPUSD - Gauging Trade Potential
• There are three elements in market analysis: technicals, fundamentals and market conditions
• While trades can be made on one aspect, the best setups meet all three criteria
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Most traders will place their trades when they see a technical move like AUDUSD's inverse head-and-shoulders break or a fundamental spark like EURUSD's exposure to NFPs and the ECB rate decision. However, in a world of probabilities, meeting only one criteria means taking an uncertain trade. There are three elements to market analysis - technicals, fundamentals and market conditions - and the best trades show agreement and opportunity across all three. It today's Forex Strategy Video, we discuss how to assess trade 'potential' with a comparison between EURUSD, AUDUSD and GBPUSD for next week.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.