Webinar: USDOLLAR FOMC Preview- Key Levels to Know
- Weekly webinar covering featured scalp setups
- Updated targets & invalidation levels
- Event Risk on Tap This Week
It’s a BIG event risk week with the BoJ, U.S. Inflation, the FOMC policy meeting, the SNB and the BoE on tap. Keep in mind this is the quarterly Fed meeting so we’ll be getting the updated projections on interest rates, growth and unemployment as well as the subsequent presser with Chair Janet Yellen. Keep in mind that market participants have all but factored out any chance of a hike this time around and we’ll be paying close attention to the dot plot projections- If expectations for higher rates are reduced further, look for the dollar to remain on the defensive.
The Dow Jones FXCM U.S. Dollar Index is starting the week just above support at 11960/70 and we’ll ultiamtely be looking for a rally to offer more favorable short-entrries higher up. Our focus ahead of the rate decision is on the crosses with AUDCHF, AUDJPY, GBPUSD & GBPJPY setups in play. We also discussed the implications for Gold & Crude Oil, both of which are coming off their respective near-term resistance zones. Continue to track these setups and more throughout the week-Subscribe to SB Trade Desk and take advantage of the DailyFX New Subscriber Discount!
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Check out SSI to see how retail crowds are positioned as well as open interest heading into March trade.
Relevant Data Releases
Other Setups in Play:
- AUD/CHF Deeper Sell-Off to Offer Favorable Entries
- GBP/USD Coils Below Key Resistance- Bullish Invalidation 1.3920
- USDOLLAR: Key Levels to Know Heading into NFPs, March Open
- USD/CHF Rebound Stalls at2016 Open- Bearish Invalidation 1.0072
- Weekly Webinar: Dollar Breakout Searches for Resistance Ahead of NFPs
---Written by Michael Boutros, Currency Strategist with DailyFX
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.