News & Analysis at your fingertips.

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. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Real Time News
  • Japanese #Yen Outlook: $USDJPY Rebound Eyes Resistance into #NFP -https://t.co/k8p36uNsBC https://t.co/MqQGpSUqzL
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.33% 🇨🇦CAD: 0.32% 🇬🇧GBP: 0.30% 🇨🇭CHF: -0.00% 🇪🇺EUR: -0.04% 🇯🇵JPY: -0.28% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/bfJnHyzJyn
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.10% Gold: -0.42% Silver: -0.91% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/j3TGJrmNvp
  • Fed's Kashkari says crypto is 'wild west' of fraud and hype - BBG $BTCUSD #Bitcoin
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.57%, while traders in France 40 are at opposite extremes with 79.18%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/hWcwkuvBVF
  • FDA developing Covid vaccine booster plan DJ via BBG
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.03% Germany 30: 0.02% Wall Street: -0.02% US 500: -0.03% France 40: -0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/bVWZM0rAFe
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here: https://t.co/Xr3xtoFpZy https://t.co/U6wIThJkpw
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.11% Gold: -0.43% Silver: -0.87% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/AOIbh73rp3
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.68%, while traders in France 40 are at opposite extremes with 78.98%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/yK7jFjbjiP
Near-term Setups in GBPUSD, EURUSD & AUDCAD

Near-term Setups in GBPUSD, EURUSD & AUDCAD

Michael Boutros, Strategist

GBPUSD- Heading into the Bank of England interest rate decision tomorrow, the focus remains on the weekly opening range in sterling. While the immediate risk remains for a near-term rebound, I would be looking to sell strength sub- 1.4580/88 – a level defined by the monthly open & the February high-day close. Outlook / Levels remain unchanged.

Review Latest GBPUSD Scalp Targets

EURUSD- The euro has responded to key near-term support noted last week with the subsequent rebound now testing initial resistance at the May high-day close / 1.1443. We could get some more upside from here but we’re on the lookout for short-triggers. Levels / Outlook unchanged with our broader focus weighted to the downside while below the 2016 high-day reversal close at 1.1495.

Review Latest EURUSD Scalp Targets

AUDCAD- The pair continues to carve out a well-defined weekly opening range as we continue to consolidate above near-term support. Price action in USDCAD & AUDUSD respectively offer little in the way of guidance at this point but the game plan remains unchanged- We’re looking for either a breach of the opening range to offer a relief rally & short-entries higher up towards the upper median-line parallels or a break sub-9450 to target more significant technical support into 9377/87.

Review Latest AUDCAD Scalp Targets

Continue tracking all 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/2016/05/05/Forex-EURUSD-Approaching-Initial-Support--Levels-to-Watch-for-NFPs.html?ref-author=Boutroshttps://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/scalping_report/2016/05/09/Forex-AUDCAD-Monthly-Opening-Range-Setup--Key-Support-into-9480.html?ref-author=Boutros

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

DISCLOSURES