Webinar: Post-NFP USD Rally Under Review
- Post-NFP setups we’re tracking this week
- Updated targets & invalidation levels
- Looking for trade ideas? Review DailyFX’s 2016 4Q Projections
Friday’s ‘Goldilocks’ Non-Farm Payrolls may have fueled strength in the greenback, but the broader outlook for monetary policy remain unchanged with Fed Fund Futures still calling for a 70% likelihood the Fed will look to raise rates in December. That said, the dollar crosses remain in focus heading into the start of the week with the USD indices flirting with key resistance zones. Keep in mind we have FOMC minutes on Wednesday followed by Advanced Retail Sales on Friday.
While some may be tempted to get involved in the sterling sell-off, extreme caution is warranted. GBP/JPY remains the best candidate of the crosses with the weekly opening-range taking shape just below the August lows. We also took a close look at commodities today amid the recent volatility in oil, gold & silver.
Key technical setups discussed on USDOLLAR, DXY, USDJPY, EURUSD, EURJPY, NZDUSD, GBPUSD, GBPJPY, USDCAD, Gold, Crude Oil & Silver. 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
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Other Setups in Play:
- All Eyes on Key NZD/USD Inflection Point Going Into NFP
- GBP/JPY Faces Biggest Test of Month Long Downtrend
- U.S. Dollar Consolidation - Break in Focus Heading into October Trade
- EUR/JPY Responds to Long-term Slope Support into Close of Q3
---Written by Michael Boutros, Currency Strategist with DailyFX
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.