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  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Silver: 2.28% Gold: 0.78% Oil - US Crude: 0.14% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/YIgPqIQiO8
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  • The US Dollar (via the DXY Index) continues to trade lower after losing the uptrend from the February and March swing lows. Get your $USD market update from @CVecchioFX here:https://t.co/bvAaeNSVO3 https://t.co/tfKhSt85iN
  • Fed: - Directors of the Federal Reserve saw inflation increasing to 2% or even above
  • Fed: - Directors saw economic recovery gaining momentum - Directors are upbeat about the future, but there is still a lot of doubt - No change in the discount rate was requested by directors of all 12 districts
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: France 40: 0.33% US 500: 0.14% FTSE 100: -0.04% Germany 30: -0.05% Wall Street: -0.41% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/0EWmhOp4AD
  • It is our (mine as well) default habit to look for the breakouts with pressurized trend potential, but current mkt conditions don't support those kinds of setups. That said, $GBPUSD still looks like a good range picture https://t.co/3kcg34Mw0B
  • $EURUSD has continued higher today amidst further US Dollar weakness following the CPI print and a strong 30yr bond auction. The pair is currently trading around the 1.1940 level, at a three week high. $EUR $USD https://t.co/GTIUH2dxov
  • US 10yr Treasury yields have fallen further following the strong auction in the 30yr. After hitting a weekly high around 1.70% this morning, yields have dropped to a multi-day low around 1.625%. $USD https://t.co/7rK6uh1uJn
Strategy Webinar: Gold, Crude Prices in Focus as USD Rebounds

Strategy Webinar: Gold, Crude Prices in Focus as USD Rebounds

Michael Boutros, Strategist

Strategy Webinar: Gold, Crude Prices in Focus as USD Rebounds

Webinar highlighting featured setups we’re tracking into the monthly open. Here are the updated targets & invalidation levels that matter.

Talking Points

  • Review of current / active setups heading into the monthly open
  • Updated targets & invalidation levels
  • Join Michael for Live Weekly Trading Webinars on Mondays at 12:30GMT

The DXY has responded to near-term slope support with the risk for a rebound higher into the open of the month. The broader outlook remains weighted to the downside sub-9696 with key longer-term support eyed at ~94.50.

Gold prices have continued to sell-off with the precious metal now testing a break of the 200-day moving average. We’ll be looking for daily close to confirm this break with the next key support zone eyed at 1209/14.

Crude prices rebounded off key technical support last week with the rally now eyeing near-term resistance targets just shy of 47. Near-term support now 45.83 with near-term bullish invalidation at 45.19.

Kiwi responded to slope resistance last week and we’re still looking lower in the pair for now. Initial support targets at 7262 with a break sub 7223 needed to validate a larger scale reversal.

See our 3Q projections on the majors in the DailyFX Trading Forecasts.

Keep in mind it’s the start of a new week, month & quarter with FOMC minutes & U.S. Non-Farm Payrolls on tap- a good time to stay nimble.

In this webinar we discussed examples of multi-timeframe analysis and review both current and pending setups & updated technical levels on DXY, Gold, AUDUSD, Crude Oil, NZDUSD, USDCAD, GBPUSD, SPX, EURGBP, Silver, NATGAS and USDJPY.

What do shifts in retail positioning hint about the broader trend? Learn how Sentiment can help your trading in this free guide!

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Key Data Releases

Economic Docket 7-3-2017

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.

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