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  • There is some very interesting event risk over the opening half of this coming week of trade. It starts with Elon Musk hosting SNL tonight for Dogecoin traders and moves into US inflation data to as means to stir the ongoing Fed debate and Dollar https://www.dailyfx.com/forex/video/daily_news_report/2021/05/08/Dollar-Tumbles-Dow-Hits-Record-Highs-and-Dogecoin-Traders-Tune-In.html https://t.co/LXhjv7ToWC
Weekly Technical Outlook: Stormy Seas Heading into BoE, FOMC & NFP

Weekly Technical Outlook: Stormy Seas Heading into BoE, FOMC & NFP

Michael Boutros, Strategist

It’s a major week of event risk with the BoJ, FOMC, BoE and U.S. Non-Farm Payrolls (NFP) on tap. Friday’s rally in the DXY took the index into a long-term slope resistance and the immediate advance is at risk while below his threshold near-term. A review of the majors also highlights key inflection points in view on the Aussie, Sterling & the Japanese Yen.

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

In this webinar we reviewed current & pending setups and updated technical levels on DXY, EURUSD, EURJPY, USDJPY, AUDUSD, GBPUSD, ETHUSD (Ethereum), USDCAD, EURGBP, Gold and Crude. Keep in mind we are heading into the close of the month and as always, we’ll want to reduce leverage size and stay nimble into heading into the November open- especially with the amount of event risk on tap this week.

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

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Key Data Releases

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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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