US Dollar Breakout Holds Higher-Low Support Ahead of Busy Calendar

US Dollar Talking Points:

– US equity futures have bounced from support in the overnight session ahead of the US open, and this week brings a busy calendar into the mix as there are high-impact macro items set to be released each day of this week. This is coupled with continued earnings announcements out of US corporates, with this week seeing names like Facebook and Apple reporting recent results. Not to be discounted – a number of headline items remain of risk, and another popped-up this weekend around German Chancellor, Angela Merkel, who announced that she would not seek re-election as the head of the CDU party, a role which she has held since the year 2000.

– From a price action perspective, a number of themes remain in-focus, including last week’s stern topside breakout in the US Dollar to go along with bearish breakouts in both EUR/USD and GBP/USD. Will the Dollar be able to punch up to fresh 2018 highs, crossing the resistance that showed-up in mid-August around the 97.00 handle? Or will the risk trade find its way back after

Article source: https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2018/10/29/us-dollar-price-action-strength-stabilizes-big-week-of-calendar-drivers-outlook-srepstans.html