US Dollar Trade Levels– Majors Carve Clear Monthly Opening-ranges

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

EUR/USD – Constructive whereas above 1.1650– topside resistance objectives at 1.1779 & 1.1827/52

GBP/USD – Risk for near-term exhaustion however focus is larger whereas above 1.3164. Topside resistance goals at 1.3290 & 1.3362.

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

Economic Calendarlatest 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

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