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Strategy Video: EURUSD, GBPUSD, USDJPY - Path of Least Resistance

Strategy Video: EURUSD, GBPUSD, USDJPY - Path of Least Resistance

2014-04-24 00:34:00
John Kicklighter, Chief Strategist
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Talking Points:

• All else being equal, markets will choose range over breakout, trend over reversal

• Breakouts and reversals are counter moves that require sparks or motivation to facilitate

• We look at the 'path of least resistance' for EURUSD, GBPUSD, then yen crosses and others

Find help with your trades and trading strategy during the regular Trading Q&A's in DailyFX-Plus or sign up for DailyFX on Demand to find guidance from analysts for 8 hours every trading day.

What is more likely: forging a major breakout or seeing a correction at a range boundary? Markets will follow the path of least resistance - technically and fundamentally - unless there is a catalyst with enough influence to override the status quo. For price action, ranges and established trends are clear indications of the market's next moves. Fundamental preferences are established in dominant themes and known event risk. So what is the path of least resistance for EURUSD, GBPUSD, Yen crosses and the Australian dollar? We discuss the concept and current bearings for many of the major currencies in today's Strategy Video.

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