- Setups in focus ahead off key event risk this week
- Updated targets & invalidation levels
- Looking for trade ideas? Review DailyFX’s 2016 3Q Projections
While the FOMC rate decision last week did charge a good deal of volatility, our outlook remains broadly unchanged on the USD crosses. Fed Fund Futures are still pricing in a December rate hike but on the heels of last week’s updated quarterly projections, the expected path of future hikes has flattened and continues to weigh on the greenback. The economic docket is rather light until later in the week but we do have a host of Fed & ECB officials slated for speeches.
Key technical setups discussed on USDOLLAR, GBPAUD, USDCAD, Crude Oil, NZDUSD, USDJPY, EURUSD, EURAUD, Gold EURGBP, GBPUSD & GBPJPY. Continue tracking these setups and more throughout the week- Subscribe to SB Trade Desk and take advantage of the DailyFX New Subscriber Discount.
Relevant Data Releases
Help fine-tune you entries, click here to learn more about the DailyFX Grid Sight Index (GSI)
Other Setups in Play:
- GBP/AUD at Risk for Key Reversal Above 1.6977
- CAD Rally Looks to CPI, Retail Sales for Fuel
- NZD/USD: Near-term Range Braces for RBNZ; Key Resistance 7450
- USD/JPY at Risk for Major Washout as Traders Gear Up For BoJ, FOMC
---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
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