Talking Points
- USD Crosses in focus as dollar indices signal near-term exhaustion
- Updated targets & invalidation levels
- Looking for more trade ideas? Review DailyFX’s 2016 4Q Projections
The phenomenal rally seen in the USD indices over the past few weeks remains vulnerable near-term heading into the close of the month. With that said, we’ll want to judge each pair on its own technical merits with the Yen, Aussie & Loonie of particular interest to start the week. Keep in mind we have some key event risk on tap with the first revision on US 3Q GDP tomorrow and Non-Farm Payrolls slated for Friday. As always caution is warranted heading into the open of December trade and we’ll be looking to the opening ranges to offer further guidance.
Key technical setups discussed on DXY, USDJPY, USDCAD, Crude Oil, AUDUSD, AUDCAD, EURAUD, Gold, Silver, NZDUSD, EURUSD, GBPUSD, GBPJPY and EURGBP.
Relevant Data Releases
Other Setups in Play:
- Gold Prices in Freefall as U.S. Dollar Rally Stretches
- USD/JPY Resistance- Rally Eyes Durable Goods, FOMC Minutes for Fuel
- USD/CAD Pullback Eyes Key Support Zone Ahead of Canada Retail Sales
- Webinar: FX Majors in Focus as USD Rally Dissipates
---Written by Michael Boutros, Currency Strategist with DailyFX
Join Michael for Live Weekly Trading Webinars on Mondays on DailyFX at 13:30 GMT (8:30ET)
Follow Michaelon Twitter @MBForex contact him at mboutros@dailyfx.com or Click Here to be added to his email distribution list.
