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.

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
EUR/USD
Bullish
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
Oil - US Crude
Bullish
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
Wall Street
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
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
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Last week’s British Pound price reversal keeps the focus on a break of the recent range for guidance with the broader risk still lower below the yearly open. Get your $GBPUSD technical analysis from @MBForex here:https://t.co/znI4iT8skY https://t.co/QqGOzRwjmW
  • USD/JPY and GBP/JPY may reverse lower in the near-term as both exchange rates fail to breach key resistance. CAD/JPY rates eyeing a retest of its post-crisis high. Get your market update from @DanielGMoss here:https://t.co/NptWy89cTa https://t.co/PYrMMwaCXg
  • Both $AUDUSD and $NZDUSD are slipping in early Tuesday APAC trade following dovish remarks from the #RBA ... https://t.co/nvOjnM8z8h ...and #RBNZ respectively: https://t.co/tDlVxzO68h https://t.co/w3y9zDlz6i
  • RBA's Kent: Notes still room to compress short-term rates -BBG $AUDUSD #RBA
  • Read your daily election update⬇️ https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2020/10/19/AUDUSD-Downtrend-to-Accelerate-Election-Betting-Odds-Defying-Polls.html
  • - Election polls show Biden ahead of Trump, but betting odds are show a slightly different narrative - Third #PresidentialDebate2020: time, location and topics - #AUDUSD downtrend may accelerate as area between descending resistance and support narrows
  • RBA Assistant Governor Christopher Kent: Balance sheet metrics give useful insight to policy stance, more complex to assess policy stance than in past -BBG $AUDUSD
  • Poll: What market has the greatest potential for volatility should the the US government finally compromise on stimulus - or definitively pull hope on it for the foreseeable future (though I believe that is a very low probability)
  • RBNZ's Orr: Prefer to deal with more inflation than battle deflation -BBG $NZDUSD
  • RBNZ Governor Adrian Orr: RBNZ has plenty of room left in QE program, will update on developments of policy tools in November -BBG $NZDUSD
Near-term Setups in NZD, CAD, EUR & USDOLLAR into the July Open

Near-term Setups in NZD, CAD, EUR & USDOLLAR into the July Open

2016-06-30 20:08:00
Michael Boutros, Strategist
Share:

It’s important to note that end-of-month / quarter flows can fuel increased intraday volatility and as such, added caution is warranted heading into the close of the week. With that said, here are the trades I’ll be following into the July open and setup’s we’re currently tracking on SB Trade Desk.

NZDUSD- Highlighted this setup on today’s scalp report – The near-term rally is at risk heading into topside resistance targets at 7135 & the 61..8% retracement of 7173 – both areas of interest for possible exhaustion / short-entries. A breach above the 2016 high-day close at 7290 (bearish invalidation) would be needed to fuel the next leg higher in kiwi.

USDCAD- I’m holding a short from just below the 5/9 swing high at 1.3015 with half the position closed at the weekly opening range low at 1.2966. Stops are at breakeven with the next downside target eyed at 1.2900/10- a zone defined by the 50% retracement of the Brexit rally & the 5/26 swing low. A break below this level keeps the short-side in focus with such a scenario targeting the key 61.8% retracement at 1.2847.

EURUSD- We’ve been stalking the Euro on SB Trade Desk for some time now with our outlook calling for a move higher to offer favorable short-entries. The pair failed to break above the monthly open this week at 1.1128 with more significant resistance seen at the 1.1224/30 Fibonacci confluence – both areas of interest for possible exhaustion / short-entries. Review Latest EURUSD Scalp Targets

USDOLLAR Daily

Near-term Setups in NZD, CAD, EUR & USDOLLAR into the July Open

Here’s the USDOLLAR levels we’ll be watching into the July open – the index broke above channel resistance last week with the rally failing just ahead of a sliding parallel extending 5/11 low. Interim support & bullish invalidation rests at 11930/38 where a confluence of trendlines converges on the 100-day moving average. Key resistance stands at 12064 backed by the 2016 open at 12131. We’ll be looking for a possible move higher to flush-out into a larger scale decline. Continue tracking all these setup and more throughout the week- Subscribe to SB Trade Desk and take advantage of the DailyFX New Subscriber Discount!

Avoid the pitfalls of near-term trading strategies by steering clear of classic mistakes. Review these principles in the "Traits of SuccessfulTraders” series.

---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)

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

DISCLOSURES