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Turning a Market Theme into a Trade Idea

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There’s always a headline story that moves FX markets. Depending on the story, it can affect multiple currency pairs. Here’s how you can trade them.

Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.01% 🇪🇺EUR: -0....One of the beauties of trading any major market is that there is rarely a shortage of stories or themes.

To find the trade entry, you can simply look for break of support in a downtrend or resistance in a downtrend. This allows you to join the trend when it accelerates. Naturally, you can place a stop at the move recent pivot or swing in order to manage risk.Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors.

We recommend that you seek independent advice and ensure you fully understand the risks involved before trading. Information presented by DailyFX Limited should be construed as market commentary, merely observing economical, political and market conditions. This information is made available for informational purposes only. It is not a solicitation or a recommendation to trade derivatives contracts or securities and should not be construed or interpreted as financial advice.

 

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