Weekly Technical Outlook: Key Setups in Play Heading into Monthly Close
- Review of current / active setups into the weekly open / monthly close
- Review the Foundations of Technical Analysis mini-series
- Join Michael for Live Weekly Trading Webinars on Mondays at 12:30GMT
The U.S. Dollar (DXY) opens the week just above a near-term support confluence at 92.59 and although this level could provide a rebound, the broader focus remains weighted to the downside while below 93.50. An in-depth, multi-timeframe examination of the USD majors reveal numerous pairs coming off key areas of support / resistance with pending setups in the event of both dollar weakness (EUR, GBP, JPY) and dollar strength (AUD & NZD). Keep in mind the economic calendar is stacked this week for the Eurozone, U.S. and Canada.
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, AUDUSD, USDJPY, NZDUSD, NZDJPY, GBPUSD, GBPJPY, Ethereum (ETHUSD), Bitcoin (BTCUSD) USDCAD, Gold and Crude.
Join Michael for his bi-weekly Webinar on the Foundations of Technical Analysis on Fridays- Register for Free Here!
Key Data Releases
Why does the average trader lose? Avoid these Mistakes in your trading
Other Setups in Play:
- Ethereum Price Rally Stalls Ahead of Key Resistance Targets
- NZD/JPY Range Break Targets Fresh Monthly Lows
- GBP/USD Consolidation Breakout Imminent
- U.S. Dollar Sell-off Targets Initial Support
See our 4Q Projections in our Free DailyFX Trading Forecasts.
---Written by Michael Boutros, Currency Strategist with DailyFX