US Dollar Flat for July- Monthly Opening Range in Focus
Trading market turns are all the time tough, however a couple of of the setup’s we’ve been monitoring have value testing some vital ranges. We’re on the lookout for follow-through this week with some well-defined month-to-month opening-ranges in view. The DXY has continued to fail forward of weekly resistance and retains the broader long-bias susceptible near-term.
Key Trade Levels in Focus
DXY – Looking for resistance forward of yearly high-day shut at 95.32– Near-term help nonetheless 94.20/24
Crude – Risk is lower sub-73. Support goals at 68.03 & 67.14
For an entire breakdown of Michael’s buying and selling technique, assessment his Foundations of Technical Analysis series on Building a Trading Strategy
Highlighting this week’s financial calendar shall be Federal Reserve Chairman Jerome Powell’s remarks earlier than congress on the semi-annual Humphrey Hawkins testimony. Keep in thoughts we additionally get the discharge of UK CPI and the Aussie employment- each of occasions of curiosity contemplating their present technical setups. In this webinar we assessment up to date technical setups on DXY, EUR/USD, GBP/USD, Crude, Gold, USD/JPY, AUD/USD and Bitcoin.
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KeyOccasion Risk This Week
Economic Calendar – latest economic developments and upcoming occasion risk
Other Setups in Play:
Weekly Technical Updates:
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—Written by Michael Boutros, Currency Strategist with DailyFX
Follow Michael on Twitter @MBForex or contact him at firstname.lastname@example.org