DailyFX+ System Trading Signals – Momentum2, Momentum1, and Breakout2 trading strategies started the week well, and we hope that similar price action in the days ahead will create similarly favorable market conditions for these signals. All three of these systems had suffered through recently choppy price action, but early signs of major trends in key currency pairs gives us hope that their performance will improve through the near term. Of course, there is a distinct possibility that we may see market conditions return to previously range-bound price action. Yet the US Dollar Index has broken down, and we would expect it to continue lower through the near term.
It will be important to monitor US Dollar pairs through the near term and manage our trading biases accordingly. For the moment, we favor Momentum1 and Momentum2 trading signals. Yet this could easily change if we see signs of rangebound markets, and we will update our Forex Trading Strategy Outlook accordingly.
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