Strategy Webinar: USD, EUR Crosses in Focus as Markets Await Yellen
- Review of current / active setups in focus into the start of the week
- Updated targets & invalidation levels
- Looking for more trade ideas? Review DailyFX’s 2017Trading Guides. Join Michael for Live Weekly Trading Webinars on Mondays at 13:30GMT (8:30ET)
Friday’s strong NFP & Canada employment numbers fueled some nice plays and all eyes shift to the Federal Reserve this week as Yellen & Co release the updated quarterly projections on growth, employment and inflation. Markets have already fully priced in a 25 basis point hike and the focus will be on the future glide path for rates moving forward.
For the greenback, the broader risk remains for a move lower but heading into the rate decision, we’ll need to respect resistance at the monthly range highs in the DXY. Key support remains 100.39/41. The Euro is in focus to start the week with an in-depth look at the crosses highlighting setups on numerous pairs.
Key Data Releases
Other Setups in Play:
- Crude Prices Eye Initial Support Following Break of 2017 Range
- EUR/USD: Post-ECB Recovery to Face U.S. NFP
- Nikkei 225 Battle Lines Drawn- Key Levels to Know
- Weekly Strategy Webinar: USD Volatility in Focus
- DXY Do or Die – Trendline Break to Seal the Fate
---Written by Michael Boutros, Currency Strategist with DailyFX
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.