Scalping Strategies (AUDUSD & EURCAD Setups Pending)
I’m currently scalping short targets in the aussie as discussed in this morning’s Scalp Webinar. Note that with key employment data due out later today from Australia we will be flat going into the print with a break below key daily support at 1.0240 offering further conviction on our directional bias.
I will also be closely watching the EUR/CAD setup highlighted in this week’s Scalp Report as the pair approaches critical daily resistance at 1.3165. While out bias on the pair remains weighted to the topside, a break below the current short-term channel formation offers scalp opportunities to the downside as we attempt to play the correction before moving higher.
Join me tomorrow morning at 1230GMT (8:30ET) for a Live Scalp Webinar to cover these scalps and more.
Follow me on Twitter at MBForex for live updates on these setups and the latest scalp charts.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.