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Strategy Video: Ranking the Best Breakout Potential

Strategy Video: Ranking the Best Breakout Potential

John Kicklighter, Chief Strategist

Talking Points:

• There are many breakout-based setups in the FX market ranging to imminent to stubborn

• Breakouts of technical necessity are likely to cool quickly while the stubborn could develop serious trend

• We look at the opportunity in GBPUSD, USDCAD, NZDUSD, the Yen crosses and EURUSD congestion

Expect breakouts? Use the DailyFX Breakout 2 strategy to signal or confirm setups!

We have watched longingly this past week as a range of high-profile technical patterns further shaped their breakout potential without making the final move. Between markets running out of room, a docket full of major event risk and over-extended fundamental themes nearing a flip; the risk / potential of finally realizing these trades looks to be at hand. In the weekend Strategy Video, we look at the scope of breakout opportunity - from an imminent GBPUSD move to more resilient EURUSD pattern - and how these setups should be approached.

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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