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. T echnical trade setups we’re tracking into the start of the month / quarter on the Majors.
Check out our 2018 4Q projections in our. Live Weekly Trading Webinar s on at 8:30ET New to Forex Trading? Get started with this US Dollar Recovery in Focus – Pullback to Offer Opportunity The has been on the offensive for nearly two weeks with the rebounding more than 1.6% off the September lows. While the reversal does threaten a larger recovery in the greenback, the threat of a near-term exhaustion pullback may offer a few setups across the majors into the start of the month. Here are the levels that matter this week.
Key Levels in Focus – Risk is lower ssub- 1.1693. Slope support around 1.1660 s -Key support still 1.1510/30. – Initial topside resistance targets at 114.37/50. Support & bullish invalidation at 113.08/27. –– Looking for support. Initial resistance 1194 with bearish invalidation at 12 10 / 15. – Focus is on to start the month- breach exposes 77.26.
Support at 71.10/20 with bullish invalidation at 67.83. Why does the average trader lose? Highlighting this week’s economic calendar will be the RBA interest rate decision on Tuesday and key employment reports from both the US and Canada on Friday. Consensus estimates are calling for a Non-Farm Payrolls (NFP) print of 185K for the month of September with the unemployment rate expected to slip to 3.8%. Keep in mind it’s the start of a new quarter and we’ll want to tread lightly into the monthly opening ranges. In this webinar we review updated technical setups on,.
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For a complete breakdown of Michael’s trading strategy, review his KeyEvent Risk This Week - l atest e conomic d evelopments and u pcoming event ri sk Active Trade Setups in Play:.Written by, Currency Strategist with DailyFX Follow Michael on Twitter or contact him at mboutros@dailyfx.com. About your FOREX.com Demo Account A demo account is intended to familiarize you with the tools and features of our trading platforms and to facilitate the testing of trading strategies in a risk-free environment. Results achieved on the demo account are hypothetical and no representation is made that any account will or is likely to achieve actual profits or losses similar to those achieved in the demo account. Conditions in the demo account cannot always reasonably reflect all of the market conditions that may affect pricing and execution in a live trading environment.