Strategy Webinar: Fed, NFP to Define USD Monthly Open Range
Webinar highlighting featured setups we’re tracking into the start of the month. Here are the updated targets & invalidation levels that matter.
- Review of current / active setups in focus into the May open
- Updated targets & invalidation levels
- Join Michael for Live Weekly Trading Webinars on Mondays at 12:30GMT
The start of a new month brings new opportunities and heading into the May open the DXY finds itself just off the 2016 lows with immediate support seen at the 2016 open at 98.69. A break below this threshold shifts the focus lower in the index targeting 97.87 & the 100% extension at 97.67. Resistance & near-term bearish invalidation remains steady at 99.43/53.
See our 2Q projections and more in the DailyFX Trading Forecasts.
It’s a big week for event risk with the FOMC interest rate decision & U.S. Non-Farm Payrolls (NFP) on tap. Keep in mind we also get the release of Canada employment figures on Friday (released at the same time as NFP) and could fuel some nice moves in USDCAD. In this webinar we review the latest DailyFX scalp reports and updated technical setups / key levels on DXY, USDMXN, Silver, AUDUSD, EURAUD, GBPUSD, GBPNZD, NZDUSD, NZDCAD, NZDJPY, USDCAD, Gold, AUDJPY, EURCAD, EURUSD.
What do shifts in retail positioning hint about the broader trend? Learn how Sentiment can help your trading in this free guide!
Key Data Releases
Other Setups in Play:
- Peso Losses to Accelerate - USD/MXN Targets Critical Resistance
- Silver Prices Testing Initial Support Hurdles
- AUD/USD Levels to Know for Australia CPI Tonight
- EUR/AUD Gaps Into Resistance- Pullback to Offer Opportunity
---Written by Michael Boutros, Currency Strategist with DailyFX
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.