Foundations of Technical Analysis: FOMC Trade Setups – 2018 Outlook
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Foundation of Technical Analysis Series
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In this episode of our bi-weekly webinar on the Foundations of Technical Analysis, we reviewed price action on the majors in the aftermath of the
FOMC
policy decision earlier this week. Keeping your focus on price is critical in being able to approach the markets from a more objective standpoint.
This week’s pullback in the
USD
(despite the interest-
rate hike
) was a welcomed development as the
DXY
turned from key resistance we’ve been tracking for weeks. But how do you approach such a trade in light of such major event risk? The answer is the same – focus on price.
Topics discussed include:
- Identifying key levels in time / price
- Trading the “turn”
- Practical use of Opening Ranges – December examples of monthly / weekly
- Multi-timeframe Analysis
- Examining Momentum (RSI)
- 2018 Outlook
- Q&A Session
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A review of the latest
AUDUSD
&
USDJPY
setups published earlier this week highlight live examples of how we utilize our technical approach to translate an idea into an actionable trade.
-
AUD/USD Bullish Reversal Eyes Initial Resistance Targets
-
USD/JPY Searches for a Top Ahead of FOMC
We also reviewed key technical levels and the weekly outlook for the DXY,
EURAUD
&
Gold
that further exemplify some of the principles we’ve been covering in this series. Join us for the next Foundations of Technical Analysis Q&A webinar where we’ll take the entire session to answer your questions on trading.
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to register free!
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—Written by Michael Boutros, Currency Strategist with
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