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(EUR/USD, AUD/USD, NZDUSD) Scalping Stratgies

(EUR/USD, AUD/USD, NZDUSD) Scalping Stratgies

Michael Boutros, Strategist

I’m currently scalping setups on the kiwi and the euro as we continue to trade within tight well, defined ranges. The aussie also has offered some opportunities as we continue to hold below the 1.080 figure. Overall risk appetite seems to remain well supported at these levels although the pace of the advance has tapered off significantly over the past few sessions. The potential for further topside plays remains rather elevated here with a wave count on the euro suggesting we may be in the process of completing wave three of the advance off the 1.2625 lows seen on January 16th. Crucial topside targets to keep in mind are 1.33 on the euro, 1.08 on the aussie, and 8380 on the kiwi. I will continue to play the ranges below these levels until a topside break, with such a scenario limiting our scalps to only long positions above the key levels mentioned above.

For complete scalp targets on the euro, refer to this morning's Winners/Losers Report.

For complete scalp targets on the Kiwi, refer to Monday's Scalp Report.

AUD/USD Scalp Chart.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.