- USD setups in focus as index threatens range-break
- Updated targets & invalidation levels
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The dollar crosses remain in focus with the Dow Jones FXCM U.S. Dollar Index (Ticker: USDOLLAR) continuing to hold a well-defined range heading into the start of the week. Highlighting this week’s economic docket will be the release of the RBNZ updated economic assessment followed by the European Central Bank interest rate decision on Thursday. Keep in mind commodity seasonal tendencies also turn a bit bearish heading into August trade and we’ll continue to favor selling rallies in both crude & gold in the near-term.
Key levels discussed on AUDUSD, USDCHF, NZDUSD, GBPUSD, EURUSD, Gold crude oil and more. Continue tracking these setups and more throughout the week- Subscribe to SB Trade Desk and take advantage of the DailyFX New Subscriber Discount.
Check out SSI to see how retail crowds are positioned as well as open interest heading into the close of June trade.
Relevant Data Releases
Help fine-tune you entries, click here to learn more about the DailyFX Grid Sight Index (GSI)
Other Setups in Play:
- USD/CHF Back Into the July Open- Bulls Look to U.S. CPI for Fuel
- GBP/USD: Post Brexit Rebound at Risk Into Bank of England Meeting
- AUD/USD Testing Resistance Ahead of Jobs Report- Key Support 7522
- USD/CAD On the Defensive Ahead of BoC
Looking for trade ideas? Review DailyFX’s 2016 2Q Projections!
---Written by Michael Boutros, Currency Strategist with DailyFX
Follow Michaelon Twitter @MBForex contact him at mboutros@dailyfx.com or Click Here to be added to his email distribution list
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