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Real Time News
  • Central Bank of Brazil sees an additional 100 bps rate hike in October - BBG
  • Brazilian Central Bank hikes 100bps as expected. We have to split hairs for 'hawkish/dovish' in the Fed's views. Pretty straightforward here...
  • Central Bank of Brazil: - Raises Selic rate by 100 basis points to 6.25% - BBG
  • ARKK Innovation (ARKK), the EFT created by Cathie Wood that epitomizes disruptive growth investing, has trended downwards since Sept. 7 after failing to clear resistance in the 126.50 area. Get your market update from @DColmanFX here:https://t.co/TIcfOdpmpu https://t.co/RhPa39Dygw
  • Speaking of monetary policy changes, the Brazilian central bank is due to announce its updated policies and the economist consensus is for a 100bp hike to 6.25%. Keep an eye on $USDBRL. Scenario with the most market-moving potential in my book would be a hold and USDBRL rally
  • The implied rate hikes from the Fed through the end of next year (Dec 2022 vs current Fed Fund futures contracts) jumped after today's FOMC report. Goes a long way towards explaining the $DXY Dollar jump here https://t.co/bHP0L76B71
  • Heads Up:🇧🇷 Interest Rate Decision due at 21:00 GMT (15min) Expected: 6.25% Previous: 5.25% https://www.dailyfx.com/economic-calendar#2021-09-22
  • The corrective pullback still seems to be in play but the drop below 109.00 has been in the works for too long now, which is a sign of concern for bears. Get your $USDJPY market update from @HathornSabin here:https://t.co/ISlf6DwISE https://t.co/mSqszlVolI
  • RT @jorgegl2502: esto es nuevo y es importante. es probable que USD empiece a caminar en alza.
  • ARKK Innovation- Hawkish Fed and Double Top Pattern Foreshadow Downside Move #trading #Fed $ARKK https://t.co/volH5MWqnD
EURUSD Short Scalps in Play. . . But Not For Long. . .

EURUSD Short Scalps in Play. . . But Not For Long. . .

Michael Boutros, Strategist

EURUSD- Currently holding short scalps as noted in today’s Scalp Report. The 1.34-barrier represents the confluence of key long-term Fibs and I’ve been playing short side of the scalp setup since yesterday’s rejection of this key threshold with initial targets 1.3280 triggering early this afternoon. Half the position size has been taken with stops now back at breakeven. It’s important to note that the broader-bias remains weighted to the topside and we are simply playing the near-term pullback off key Fibonacci resistance. Only a daily close below 1.3250 invalidates our broader outlook. Topside targets extend past 1.34 with setups also pending on AUDUSD and USDOLLAR as noted in the report.

For updates on these setups and more follow me on Twitter @MBForex

---written by Michael Boutros, Currency Strategist with DailyFX

Join Michael on Wednesday morning for a Live Scalping Webinar on DailyFX Plus (Exclusive for Live Clients) at 1330 GMT (8:30ET)

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