Never miss a story from Michael Boutros

Subscribe to receive daily updates on publications
Please enter valid First Name
Please fill out this field.
Please enter valid Last Name
Please fill out this field.
Please enter valid email
Please fill out this field.
Please select a country

I’d like to receive information from DailyFX and IG about trading opportunities and their products and services via email.

Please fill out this field.

Your Forecast Is Headed to Your Inbox

But don't just read our analysis - put it to the rest. Your forecast comes with a free demo account from our provider, IG, so you can try out trading with zero risk.

Your demo is preloaded with £10,000 virtual funds, which you can use to trade over 10,000 live global markets.

We'll email you login details shortly.

Learn More about Your Demo

You are subscribed to Michael Boutros

You can manage your subscriptions by following the link in the footer of each email you will receive

An error occurred submitting your form.
Please try again later.

Dollar to Fall Out of Favor?

The majors are trading at some precarious levels to start the week but technicals are clear. The 1994 price analog we’ve been tracking in the Dollar Index (DXY) suggests that we should be looking for exhaustion this week before moving lower. Event risk this week is limited and we’ll be closely tracking the weekly open for guidance.

Key Levels in Focus

DXY – Key support down at 88.90-89.08. Resistance at 91, bearish invalidation at 91.33

EUR/USD – Immediate focus is towards 1.2346, bearish invalidation at 1.2409. Key support Still 1.2230/40

USD/JPY – Looking for exhaustion at 107.45/80- Support / bullish invalidation 106.26/38

USD/CAD – Focus is lower while below the monthly open 1.2895- Support targets at 1.2686/96 & 1.2634

AUD/USD – Focus remains on a possible low at critical support at 7636/40 & 7612

For a complete breakdown of Michael’s trading strategy, review his Foundations of Technical Analysis series on Building a Trading Strategy

Highlighting this week’s event risk will be CPI releases from China and the U.S. with the University of Michigan confidence surveys slated for Friday. In this webinar we review updated technical setups on DXY, EURUSD, USDJPY, USDCAD, AUDUSD, AUDJPY, NZDUSD, GBPUSD, and EURJPY.

New to Forex? Get started with this Free Beginners Guide

Key Data Releases

Economic Calendar

Other Setups in Play:

Why does the average trader lose? Avoid these Mistakes in your trading

---Written by Michael Boutros, Currency Strategist with DailyFX

To receive Michael’s analysis directly, please sign-up to his email distribution list

Follow Michael on Twitter @MBForex or contact him at