Forex Strategy Video: Gauging Breakout Potential on USDJPY, GBPUSD, S&P 500
• There are many breakout opportunities setting up in the market, but not all setups are created equal
• USDJPY is sitting on the bottom of a major channel, but the path of least resistance may curb bears
• Meanwhile, 3Q UK GDP can act as a distinct catalyst to drive GBPUSD through multi-year resistance
Sign up for John’s email distribution list, here.
At any one time, there are always breakout possibilities somewhere in the FX market. In fact, we currently have opportunities in pairs like USDJPY, EURJPY, GBPUSD and even the S&P 500. Yet, the process of establishing a surge in volatility, finding the technical cue and generating follow through requires certain underlying elements to secure. In today's Forex Strategy Video, we discuss the particulars of breakouts and how to trade them.
Expect breakouts? Use the DailyFX Breakout 2 strategy to signal or confirm setups!
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.