News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bearish
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
Mixed
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • RT @globaltimesnews: China's GDP growth target in 2021: above 6 % #TwoSessions2021 https://t.co/3CdQNNOprX
  • Retail trader signals still hint that the Dow Jones and S&P 500 may be at risk, placing the focus on year-long rising trendlines to see if dominant upside biases hold.Get your market update from @ddubrovskyFX here:https://t.co/lFpzIFNmzW https://t.co/ScKuhjL27N
  • Commodities Update: As of 03:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.84% Gold: -0.18% Silver: -0.66% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/0ehtSBFwit
  • BoJ's Kuroda: Importance of keeping yield curve low remains unchanged, appropriate to increase flexibility of ETF purchases -BBG
  • BoJ's Kuroda: Don't think it is necessary to expand long-term yield band -BBG
  • Forex Update: As of 03:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.06% 🇬🇧GBP: 0.06% 🇨🇦CAD: 0.05% 🇪🇺EUR: -0.08% 🇦🇺AUD: -0.12% 🇳🇿NZD: -0.23% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/sirt9n9Boq
  • Japan's Prime Minister Suga: Hard to restart 'go to' travel within this fiscal year -BBG
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.79%, while traders in GBP/JPY are at opposite extremes with 69.67%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/hSQ1fvmKmy
  • China to promote property tax legislation in 2021-2025 - BBG
  • The path for the Japanese Yen seems to favor the downside looking at a majors-based index. USD/JPY may rise within its Ascending Channel, but there is some scope for a healthy correction. Get your market update from @ddubrovskyFX here:https://t.co/7XFJiCYYEM https://t.co/6KKmNmx51t
Weekly Trade Levels for US Dollar, Euro, Loonie, Yen, Gold & Oil

Weekly Trade Levels for US Dollar, Euro, Loonie, Yen, Gold & Oil

Michael Boutros, Strategist

New to Forex Trading? Get started with this Free Beginners Guide

DXY Holds Slope Resistance, Euro Support – Volatility Breakout Imminent

It’s the start of a new month with the USD majors testing critical technical levels into the weekly open. A study of weekly momentum, range and volatility indicators suggest prices may be on the cusp of a larger breakout (trend) over the coming days – stay nimble into the June open. In this webinar we review updated technical setups on DXY, EUR/USD, USD/CAD, USD/JPY, AUD/USD, Gold, Crude Oil (WTI), EUR/NZD, SPX (S&P 500) EUR/CAD & USD/CHF.

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

Key Trade Levels in Focus

DXY – Risk is lower sub-98.10 into the start of the week. Initial support objectives at 97.53 and 97.42- look for a bigger reaction there IF reached. Downside break would expose 97.18.

EUR/USD – Rally is approaching initial resistance objectives 1.1215 – a breach there is needed to suggest a larger reversal is underway targeting 1.1237/41 & 1.1265. Initial support 1.1186 backed by 1.1159- bullish invalidation at 1.1140.

USD/CAD – Immediate risk is lower sub-1.3537 targeting 1.3435/37- a break / close below is needed to validate a larger reversal targeting 1.3388 & 1.3371.

USD/JPY – Initial resistance at 109 with bearish invalidation at 109.31. Downside support objectives eyed at the 2017 low-day close at 107.84 and the 61.8% retracement at 107.60.

Gold – Breakout targeting topside resistance objectives at 1321/23. Weekly open support at 1305 backed by closely by 1302- bullish invalidation now raised to 1296. A breach higher would exposes the yearly HDC at 1337.

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

Key Event Risk This Week

Economic Calendar - Key Data Releases

Economic Calendar - latest economic developments and upcoming event risk

Active Trade Setups:

Learn how to Trade with Confidence in our Free Trading Guide

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

Follow Michael on Twitter @MBForex

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES