Skip to Content
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
More View More
Strategy Webinar: Stocks Feel the Burn as Trump Healthcare Folds

Strategy Webinar: Stocks Feel the Burn as Trump Healthcare Folds

Michael Boutros, Strategist

Talking Points

  • Review of current / active setups in focus into the close of the month
  • 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)

Failure of the Trump healthcare overall has brought into question the administration’s ability to implement new policy with broader risk assets markets under pressure to start the week. Heading into the close of the month, our attention turns to commodities & commodity currencies as the USD remains under pressure. The DXY has broken below a key support threshold noted last week at 9943/53, with this level now serving as near-term resistance. Key support for the index comes in just lower at 98.60/70 where the 2016 open converges on the 200-day moving average and basic slope support extending off last year’s low.

From an event risk standpoint, traders will be eyeing the third and final release on U.S. 4Q GDP on Thursday with consensus estimates calling for an annualized uptick to 2.0%. Keep in mind we have central bank rate decisions on tap from the Reserve Bank of South Africa & Banco De Mexico on the same day. Updated technical setups and key levels discussed (in this order) on DXY, EURJPY, S&P 500, DAX, Nikkei 225, NZDUSD, AUDUSD, AUDNZD, NZDCAD, Crude Oil, Gold, Silver, NZDJPY, GBPUSD, USDMXN & USDZAR.

---

Key Data Releases

Other Setups in Play:

---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.

DISCLOSURES