Forex Strategy Video: Which is More Important for EURUSD: ECB or US GDP?
• The ECB rate decision and US 3Q GDP release are due within close proximity to each other
• In fundamental trading, we often have competing themes and catalysts that can complicate our view
• The first step to clarifying our EURUSD view is to determine which aspects are more market moving
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We have a US 3Q GDP reading scheduled for release less than an hour after an important ECB rate decision tomorrow. Which will determine whether the EURUSD reverses or breaks its trend channel? Conflicts between fundamental catalysts and themes are common, and it is imperative to first determine what is most market moving for our currency pair or market to trade through (or on) the event risk. In today's Forex Strategy video, we discuss the concept of weighing impending, fundamental drivers and incorporating that analysis into our trading - with a eye specifically to this loaded EURUSD scenario.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.