Talking Points
- Review of current / active setups in focus into the April open
- 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)
The start of a new month / quarter brings new opportunities with multiple crosses and commodities at key levels to start the week. The Dow & S&P closed out their 6th consecutive quarterly gain last month with the major indices still in a precarious position into the April open. We’ll want to tread lightly as prices carve out the initial opening ranges but there’s lots of clear setups to operate on. The Euro & Japanese Yen remain the strongest performers vs the dollar into the U.S. open with Cable & the Loonie trading lower to open of the session.
From an event risk standpoint, the Reserve Bank of Australia (RBA) interest rate decision kicks things off tonight with the U.S. Durable Goods Orders, ISM Non-Manufacturing & the March NFP employment report highlighting the economic docket this week. Updated technical setups and key levels discussed (in this order) on DXY, EURUSD, GBPUSD, EURJPY, S&P 500, Crude Oil, Gold, Silver, EURCAD, USDJPY, EURAUD, AUDJPY, GBPAUD & CADJPY.
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Key Data Releases
Other Setups in Play:
- EUR/USD: Down But Not Yet Out
- Cable Faces Brexit Showdown with Theresa May- Brexit Levels to Know
- Strategy Webinar: Stocks Feel the Burn as Trump Healthcare Folds
- EUR/JPY: Near-term Reversal Potential
---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.
