- USD setups we’re tracking as indices press multi-month highs
- Updated targets & invalidation levels
- Looking for trade ideas? Review DailyFX’s 2016 4Q Projections
The U.S. Dollar indices are warning that another high may be needed before a more meaningful pullback. That said, we’re closely tracking the commodity bloc currencies ahead of key data prints out of the Asia-Pac region, with AUD, NZD & CAD opening the week at particular levels of interest.
Highlighting this week’s economic docket are interest rate decisions from the European Central Bank (ECB) and the Bank of Canada (BoC) with key inflation data also on tap out of New Zealand, the U.S. and the UK. Aussie minutes are up first tonight with China 3Q GDP figures slated for Tuesday evening in New York.
Key technical setups discussed on DXY, USDOLLAR, DAX, SPX, EURUSD, USDJPY, USDCAD, Crude, Gold, Silver, NZDUSD, AUDUSD & EURJPY. Sterling crosses remain ‘off the menu’ for now until we get some more technical clarity in near-term price action. 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:
- DAX Battle Lines Drawn as Index Looks to Regain 2016 Losses
- SPX Sell-Off Rebounds off Slope Support
- EUR/USD Breakdown Eyeing Initial Support Targets
- USD/JPY Exhaustion Shifts Focus to Uptrend Support
---Written by Michael Boutros, Currency Strategist with DailyFX