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Webinar: USDOLLAR Primed for Uptrend Continuation

Webinar: USDOLLAR Primed for Uptrend Continuation

Michael Boutros, Strategist

Talking Points

USDOLLAR Daily

Webinar: USDOLLAR Primed for Uptrend Continuation

Chart Created Using FXCM Marketscope 2.0

Notes: The Dow Jones FXCM USDOLLAR Index broke above key resistance last week at the April high-day close 12123. The focus remains weighted to the topside while above this level with interim resistance seen at 12204 backed by the median-line parallel.

USDCHF Daily

Webinar: USDOLLAR Primed for Uptrend Continuation

Notes: USDCHF broke above major resistance this month with today’s rally challenging slope resistance at eight-month highs. Look for interim resistance at 1.0126/40 with a breach above the 2015 high-day close at 1.0185 increasing the potential for a larger scale breakout in the pair. Immediate focus is higher while above 9995 with more significant support seen at 9900/13.

USOIL Daily

Webinar: USDOLLAR Primed for Uptrend Continuation

Notes: Crude is trading within the confines of a well-defined descending median-line formation with the recent decline responding to near-term support at the 39.79-40 Fibonacci confluence region. We could get some upside off this mark but the focus remains weighted to the downside while below 42.76 - 43.18. A break lower targets subsequent objectives at the 2015 low-day close at 38.07 & the 2008 low at 36.18.

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Relevant Data Releases Next Week

Webinar: USDOLLAR Primed for Uptrend Continuation

Other Setups in Play:

---Written by Michael Boutros, Currency Strategist with DailyFX

Follow Michaelon Twitter @MBForex contact him at mboutros@dailyfx.com or ClickHere to be added to his email distribution list

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