Foundations of Technical Analysis: FOMC Trade Setups – 2018 Outlook
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Foundation of Technical Analysis Series- Click here for the complete series and webinar archives
In this episode of our bi-weekly webinar on the Foundations of Technical Analysis, we reviewed price action on the majors in the aftermath of the FOMC policy decision earlier this week. Keeping your focus on price is critical in being able to approach the markets from a more objective standpoint.
This week’s pullback in the USD (despite the interest-rate hike) was a welcomed development as the DXY turned from key resistance we’ve been tracking for weeks. But how do you approach such a trade in light of such major event risk? The answer is the same – focus on price.
Topics discussed include:
- Identifying key levels in time / price
- Trading the “turn”
- Practical use of Opening Ranges – December examples of monthly / weekly
- Multi-timeframe Analysis
- Examining Momentum (RSI)
- 2018 Outlook
- Q&A Session
We also reviewed key technical levels and the weekly outlook for the DXY, EURAUD & Gold that further exemplify some of the principles we’ve been covering in this series. Join us for the next Foundations of Technical Analysis Q&A webinar where we’ll take the entire session to answer your questions on trading. Click here to register free!
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---Written by Michael Boutros, Currency Strategist with DailyFX
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.