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Mid-Week Market Update: Technical Outlook for USD Majors- NFPs Setups

Mid-Week Market Update: Technical Outlook for USD Majors- NFPs Setups

Michael Boutros,
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Weekly Technical Update on USD Majors – NFP Setups


US Dollar Recovery on the Ropes Ahead of NFP – Majors Poised for May Range Breakouts

In Monday’s Weekly Strategy Webinar we discussed the technical posturing of the US Dollar heading into the May open while noting that DXY had responded to key support into the close of April trade. Indeed the index did defend support with the subsequent rebound setting a well-defined weekly opening-range just below resistance- US Non-Farm Payrolls on tap tomorrow. These are the setups we’re tracking into the close of the week. In this webinar we take an in-depth look at the technical levels for the US Dollar Index, EUR/USD, GBP/USD, GBP/AUD, GBP/CAD, USD/JPY, AUD/USD, NZD/USD and USD/CAD.

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

Key Event Risk This Week - Economic Calendar - BOE, RBA, NFP, Canada Employment

Economic Calendar - latest economic development and upcoming event risk

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

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