News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Bearish
Wall Street
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Mixed
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • Get our analysts’ view on the key fundamentals for Oil in Q2. Download now. https://t.co/bXrPHkaSCn https://t.co/vy6vjot301
  • Once again, $GBP approaching the recent range lows https://t.co/4DVUHR6pEn
  • Coming up in 20': my weekly sentiment webinar in which I look at the charts, the @IGcom client sentiment data, the confidence numbers on the calendar this week and much more. Do join me if you're free... https://t.co/BhGN9fw31Z
  • 💶 Balance of Trade (APR) Actual: €10.9B Previous: €15.8B https://www.dailyfx.com/economic-calendar#2021-06-15
  • Heads Up:💶 Balance of Trade (APR) due at 09:00 GMT (15min) Previous: €15.8B https://www.dailyfx.com/economic-calendar#2021-06-15
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrKWDBY https://t.co/JyxgSYYRzc
  • Please join @MartinSEssex at 5:30 EST/9:30 GMT for a webinar on trading sentiment. Register here: https://t.co/diCwqqa7eS https://t.co/LdEUF5aReq
  • UK confirms that it has agreed a post-Brexit trade deal with Australia $GBP $AUD
  • FX options expiries of note $EURUSD 1.2150-60 (588mln) $EURGBP 0.8600-10 (1.1bln) $USDJPY 110.00 (1.26bln) $AUDUSD 0.7725-30 (1bln)
  • ECB's Rehn says accommodative financing conditions are a key element to supporting the Euro Area economic recovery - Recent faster inflation in the Euro Area is due to one off and temporary factors, adds that there are no signs of a rise in broader price pressures
The US Dollar Exhaustion Trade- Levels to Know

The US Dollar Exhaustion Trade- Levels to Know

Michael Boutros, Strategist

DXY Rally Approaches Weekly Resistance Hurdle

The Dollar index has rallied nearly 6.5% from the yearly lows with the advance approaching confluence resistance at 94.14/27. Although broader outlook remains constructive, the near-term technical picture suggests price may be vulnerable heading into this key zone. Accordingly, our focus has remained on the majors and we’re looking for possible exhaustion this week.

Key Levels in Focus

DXY – Resistance at 94.14/27. Initial support channel support ~93.10, bullish invalidation at 92.52

EUR/USD – Key near-term support at 1.1705(subsequent support 1.1616). Resistance 1.1827 backed by 1.1915

AUD/USD – Critical support still 7480. Topside resistance objectives at 7565 & 7600- Key resistance 7636

GBPUSD – Risk is lower sub-1.35(resistance). Next beg support target at 1.33

For a complete breakdown of Michael’s trading strategy, review his Foundations of Technical Analysis series on Building a Trading Strategy

UK data will highlight this week’s event risk with commentary from Bank of England (BoE) officials, the Consumer Price Index (CPI) and GDP figures on tap. In this webinar we review updated technical setups on DXY, EUR/USD, AUD/USD, GBP/USD, AUD/NZD, AUD/JPY, Gold, Crude Oil, USD/JPY, EUR/NZD, TNX (US 10Year), Bitcoin (BTC/USD), Ethereum (ETH/USD), Ripple (XRP/USD) and Litecoin (LTC/USD).

New to Forex? Get started with this Free Beginners Guide

Key Data Releases

Economic Calendar

Other Setups in Play:

Why does the average trader lose? Avoid these Mistakes in your trading

---Written by Michael Boutros, Currency Strategist with DailyFX

Follow Michael on Twitter @MBForex or contact him at mboutros@dailyfx.com

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

DISCLOSURES