Talking Points
- Weekly DailyFX Scalp Webinar archive covering featured setups ahead of FOMC
- Updated targets & invalidation levels on USD crosses
- Event Riskon TapThis Week
USDOLLAR Daily
Chart Created Using FXCM Marketscope 2.0
Technical Outlook
- USDOLLAR trading within confines of descending pitchfork ahead of key event risk
- Interim resistance confluence at 11880/87 backed by 11936 / MLP
- Bias remains bearish while within broader ML formation (~11961)
- Interim support objectives at 11839 & the lower MLP / 11790
- Daily RSI reversal at 60 &- break sub-50 (bearish)
- Key Event Risk Ahead:FOMC Interest Rate Decision on Wednesday & U.S. Consumer Price Index (CPI) on Thursday
NZDJPY Daily
Notes: NZDJPY is coming into a key area of support to open the week at the confluence of median-lines off the April/May highs & the 78.6% retracement at 85.84-86.00. Be on the lookout for short triggers with interim resistance seen at 87 backed by 87.70 (bearish invalidation). A break of the lows targets another support confluence down at the 85-handle.
For updates on these setups more subscribe to SB Trade Desk
Relevant Data Releases
Other Setups in Play:
- USDCAD Breakdown at Initial Support- Short Scalps Favored Sub 1.24
- EURNZD Threatens Key Resistance Ahead of RBNZ- Longs at Risk Sub 1.59
- Scalp Webinar: NFP Fails to Spur USD Breakout- June Range Remains Key
- USDOLLAR Flirts with Breakdown- Short Scalps Favored Sub 11960 Ahead of NFPs
- EURUSD Scalp Levels Heading Into ECB, NFP- Longs Favored Above 1.1065
---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
Join Michael for Live Scalping Webinars on Mondays on DailyFX at 12:30 GMT (8:30ET)
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