Forex Strategy Video: EURUSD - When Technicals Conflict with Fundamentals
• The highest probability trades find support in technicals, fundamentals and market conditions
• When one element of the market actively conflicts with the other, trade setups break down
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Has EURUSD cleared the necessary resistance to jump start its next bull wave or will the benchmark currency pair show the same struggle that equities have seen in progressing? The answer is found in what is driving the market and markets. The highest probability of success in our trades is found when technicals, fundamentals and market conditions align. Yet, when technical breaks our founded on short-lived fundamental catalysts and backdrop conditions unconducive to trends, we are often led to false breakouts and chop. These are the circumstances we currently face with EURUSD, the S&P 500, AUDUSD, EURJPY and other yen crosses, and many other pairs. How do we assess the situation and how to we trade it? That is the topic of this weekend's Strategy Video.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.