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Webinar: USD Pullback Fueling Setups Across the Majors- Levels to Know

Webinar: USD Pullback Fueling Setups Across the Majors- Levels to Know

Michael Boutros, Strategist

Talking Points

  • Sharp reversal in EUR post Italian referendum keeps focus higher
  • Updated targets & invalidation levels
  • Live Weekly Trading Webinars on Mondays on DailyFX at 13:30 GMT (8:30ET)

It’s a Big event risk week with central bank rate decisions on tap from the RBA, BoC & ECB. Although the Italian referendum saw EURUSD plummet more than 1.5% at the open of trade this week, the sharp reversal off the lows and subsequent rally through Friday’s high keeps the focus higher while above the monthly open at 1.0587. The commodity bloc is also of particular interest with the recent rebound now approaching near-term levels of resistance in the Aussie & Kiwi (support for USDCAD).

With that said, we’ve highlighted some impressive weekly / monthly opening-ranges and we’ll be looking for the break’s to validate our near-term directional biases. Key technical setups discussed on DXY, USDJPY, USDCAD, Crude Oil, NZDUSD, AUDUSD, EURUSD, EURAUD, GBPUSD and GBPNZD.

Relevant Data Releases

Other Setups in Play:

Looking for more trade ideas? Review DailyFX’s 2016 4Q 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.

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

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