Forex Strategy Video: EURUSD, S&P 500, EURJPY - Inevitable Breakouts
• Breakouts are inevitable - just as ranges and trends - but that doesn't make them imminent
• Technical conditions, event risk catalysts and market conditions spark breakouts and determine momentum
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A breakout for the EURUSD and S&P 500 is inevitable. Technicals for these benchmarks reflect terminal patterns whose boundaries are dangerously close. Yet, that doesn't mean that the moves will be made in the next hour or day and in some instances (though not these) even in the next week. Furthermore, a breakout does not insure a new trend will be established on the other side of the support or resistance. How do we spot breakouts and what are the general rules to trade these eye-catching market developments? That is the topic for today's Forex Strategy Video.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.