Talking Points
- 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.
Updated technical setups and key levels discussed on DXY, EURUSD, EURAUD, EURNZD, EURCAD, USDCAD, Crude Oil, Nikkei, GBPUSD, USDJPY, GBPJPY, Gold and Silver.
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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
Follow Michaelon Twitter @MBForex contact him at mboutros@dailyfx.com or Click Here to be added to his email distribution list.
