We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides Download
EUR/USD
Bullish
GBP/USD
Bearish
USD/JPY
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bearish
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Bitcoin
Bullish
More View more
Real Time News
  • RT @FactSet: Analysts have lowered Q1 EPS estimates for $SPX by 3.3% over the first 2 months of the quarter, which is larger than the 5-yea…
  • Second coronavirus case of unknown origin has been confirmed in California -Washington Post
  • An equally-weighted Yen Index I update suffered its biggest single-day drop (Yen surge) since May 17, 2017 on Friday $USDJPY, $EURJPY, $GBPJPY, etc https://t.co/igz5XGvdmR
  • S&P 500 this week: Monday: -3.35% Tuesday: -3.03% Wednesday: -0.38% Thursday: -4.42% Friday: -0.82% $SPX $SPY
  • Net speculative futures positioning in gold eased off record high net long interest this past week through Thursday, but not by much $GC_F $XAUUSD https://t.co/SwcjiCDTnj
  • US advises people to reconsider travel to Italy over virus - BBG
  • The 10-Year US Treasury (here yield) and net speculative futures positioning are diverging even further https://t.co/qxUXGMv52w
  • The #Dow Jones has taken out various technical levels of historical significance The S&P 500 sank to 2,875 which marks the January 2018 high. Get your #equities market update from @PeterHanksFX here: https://t.co/LSSzQiMpVr https://t.co/PTaEOZhQM8
  • The COT net speculative futures positioning data is out. Remember, it reads positioning up until Tuesday. With the gap down in markets Monday, $VIX shot higher and the net short in futures was nearly halved. Going to guess that shifted further through the week https://t.co/iIPQ7f1FhU
  • The 12-month 'performance' of volatility measures across different asset classes: equities ($VIX); FX; gold; treasuries and emerging markets https://t.co/QQ5FsKtbxb
Near-term Setups in AUDUSD & CADJPY

Near-term Setups in AUDUSD & CADJPY

2016-04-05 19:01:00
Michael Boutros, Technical Strategist
Share:

AUDUSD-The post-RBA sell-off took out targets into the 23.6% retracement of the January rally at 7510. Looking for a near-term rebound to offer favorable short entries with initial resistance eyed at 7550/59 backed by 7606. Break lower targets 7481/82.

Review AUDUSD Scalp Targets

CADJPY- The pair is approaching near-term support after reversing off a critical resistance range noted last week at 87.36/43. Structural support off the yearly low converges on a basic 50% retracement off the February advance at 83.35/55 & immediate focus is higher targeting initial resistance at 84.32. Ultimately we’ll be looking for re-entry on the short-side.

Review CADJPY Scalp Targets

Continue tracking these setup and more throughout the week- Subscribe to SB Trade Desk and take advantage of the DailyFX New Subscriber Discount!

Looking for more trade ideas? Review DailyFX’s 2016 2Q Forecasts

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

Follow Michaelon Twitter @MBForex contact him at mboutros@dailyfx.com or ClickHere to be added to his email distribution list

Join Michael for Live Scalping Webinars on Mondays on DailyFX and Tuesday, Wednesday & Thursday’s on SB Trade Desk at 12:30 GMT (8:30ET)

https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/scalping_report/2016/04/05/Forex-CADJPY-Reversal-Approaching-Initial-Support---Bearish-Sub-86.53.html?ref-author=Boutros

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

DISCLOSURES

News & Analysis at your fingertips.