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  • Gold Price to Recover if Fed Rate Hike Risk & USD Strength Ebb -via @DailyFX Link to Analysis: https://www.dailyfx.com/forex/market_alert/2021/06/17/gold-price-to-recover-if-fed-rate-hike-risk-usd-strength-ebb.html $XAUUSD $GLD $GC_F https://t.co/CfcpZ2BgBX
  • Heads Up:🇯🇵 Core Inflation Rate YoY (MAY) due at 23:30 GMT (15min) Expected: 0.1% Previous: -0.1% https://www.dailyfx.com/economic-calendar#2021-06-17
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  • RT @FxWestwater: Australian Dollar Sinks Alongside Commodity Prices as Post-FOMC USD Run Continues Link: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2021/06/17/Australian-Dollar-Sinks-Alongside-Commodity-Prices-as-Post-FOMC-USD-Run-Continues.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr https://t…
  • The S&P 500 and Dow Jones could be at risk as retail investors increase their long exposure in them ahead of the Fed rate decision. What are key technical levels to watch out for below? Find out from @ddubrovskyFX here:https://t.co/TkroCgtDLm https://t.co/NwFkkk28Dh
  • RT @FxWestwater: Lean Hogs futures hit limit down, with the worst week since June of last year. Price is cutting below its 50-day SMA and m…
  • So the BoJ is out later today for the #Yen...and as per the usual, at an unspecified time somewhere probably between 2 - 4 GMT Wonder if there is a market out there for those wishing to bet on the time they will release their statement....
  • RT @FxWestwater: #Copper breaking down further from its Descending Triangle, with hardly any reaction from the 100-Day SMA (purple line). A…
  • US Fed’s hawkish surprise deepens USD/ZAR pullback. USD/ZAR technical set-ups and levels to watch. Get your market update from @RichardSnowFX here:https://t.co/rd8kXlUh8m https://t.co/jUyyT4x8hC
Webinar: FX Majors In the Crosshairs as Seasonals Turn Against USD

Webinar: FX Majors In the Crosshairs as Seasonals Turn Against USD

Michael Boutros, Strategist
  • Setups in focus ahead off key event risk this week
  • Updated targets & invalidation levels

Seasonal tendencies for the greenback turn increasingly bearish here, especially against the Euro, Sterling & Swissy. The focus of the week shifts towards U.S. Retail Sales & CPI ahead of next week’s highly anticipated FOMC policy decision. Keep in mind today is the final day for Fed commentary ahead of the upcoming rate decision with Governor Lael Brainard on tap to speak later today.

The Japanese yen is the strongest performer to start off the week with U.S. equity markets attempting to pare some off the sharp losses seen last week. On balance, we are looking for pullbacks in EUR & GBP to offer long entries while the risk remaining for a deeper setback in AUD & NZD before resumption.

Key setups discussed on USDOLLAR, NZDUSD, USDCAD, EURUSD, AUDUSD, GBPUSD, EURAUD, Gold & Crude Oil. Continue tracking these setups and more throughout the week- Subscribe to SB Trade Desk and take advantage of the DailyFX New Subscriber Discount.

Check out SSI to see how retail crowds are positioned as well as open interest heading into the close of June trade.

Relevant Data Releases

Webinar: FX Majors In the Crosshairs as Seasonals Turn Against USD

Help fine-tune you entries, click here to learn more about the DailyFX Grid Sight Index (GSI)

Other Setups in Play:

Looking for trade ideas? Review DailyFX’s 2016 2Q Projections

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

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

Join Michael for Live Scalping Webinars on Mondays on DailyFX and Tuesday, Wednesday & Thursday’s on SB Trade Desk at 12:30 GMT (8:30ET)

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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