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Weekly Technical Outlook: USD Majors, Cryptocurrencies in Focus

Weekly Technical Outlook: USD Majors, Cryptocurrencies in Focus

2017-10-02 16:15:00
Michael Boutros, Strategist
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It’s the start of a new week, month & quarter and a fresh perspective on the markets puts into focus some clean setups as we head into October trade. U.S. Dollar strength remained persistent into the close of the month with the rally approaching key regions of near-term resistance just higher.

A review of the Cryptocurrencies also highlights Bitcoin testing a key level of resistance to start the month. Ethereum price action is not quite as clean, but the levels remain clear with the broader focus still higher while above 271.

New to FX? Review this Free Beginners Guide to get started!

U.S. Non-Farm Payrolls are on tap and highlight this week’s economic docket. Keep in mind we get the release of Canada employment figures at the same time and keeps the focus on the Loonie setup we’ve been tracking. The RBA interest rate decision kicks things off tonight with the central bank widely expected to hold the benchmark interest rate at 1.50%.

In this webinar we reviewed current & pending setups and updated technical levels on DXY, USDCAD, AUDUSD, GBPUSD, GBPJPY, ETHUSD, BTCUSD, EURUSD, EURJPY and Gold.

Join Michael for his bi-weekly Webinar on the Foundations of Technical Analysis- Register for Free Here!

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Key Data Releases

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Other Setups in Play:

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---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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