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
Wall Street
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
Gold
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
GBP/USD
Bullish
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
More View more
Real Time News
  • The New Zealand Dollar appears poised to extend its climb against its haven-associated counterparts as long-term trend break hints at cyclical upturn. Get your $NZDUSD market update from @DanielGMoss here: https://t.co/CPxP1Q8B6d https://t.co/NBJ9qkaNei
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.17% 🇳🇿NZD: 0.07% 🇪🇺EUR: -0.06% 🇨🇦CAD: -0.30% 🇨🇭CHF: -0.33% 🇬🇧GBP: -0.43% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/lYbgFKQKmu
  • USD/MXN is in danger of picking up more momentum as the recent decline takes out support levels and gains ‘negative curvature’ to its path. Get your $USDMXN technical analysis from @PaulRobinsonFX here: https://t.co/eQzD6JyA5c https://t.co/km6neTN3M6
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Gold: 0.33% Oil - US Crude: -0.55% Silver: -0.64% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/0yp0FnGl8y
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.22%, while traders in NZD/USD are at opposite extremes with 71.43%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/fu1Xj6AuYv
  • US Equity Update (Friday Close): $DJI -0.88% $SPX -1.12% $NDX -1.30% $RUT -0.38% $VIX -2.00%
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: US 500: -0.01% Wall Street: -0.01% Germany 30: -0.31% France 40: -0.39% FTSE 100: -0.40% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/TUiymobDKl
  • Precious Metals Update: #Gold 1950.04 (+0.29%), #Aluminum 1781.00 (-0.81%), and #Copper 6780.50 (+0.05%) [delayed]
  • RT @SadiqKhan: IMPORTANT: The PM has said that we are now seeing the start of a second wave of COVID-19 across the UK. Londoners should k…
  • The US Dollar has responded to long-term technical support but keeps the index within the confines of the September opening-range. Get your $USD technical analysis from @MBForex here: https://t.co/3etE4I4kEi https://t.co/dxgpYd9FLH
Near-term Setups in AUD, CAD, NZD & USDOLLAR into NFPs

Near-term Setups in AUD, CAD, NZD & USDOLLAR into NFPs

2016-07-06 20:01:00
Michael Boutros, Strategist
Share:

Non-Farm payrolls are on tap this Friday and the USD crosses are in play heading into the release. Specifically, we’ll be eyeing opportunities in AUDUSD, USDCAD & NZDUSD as we search for a near-term high in U.S. Dollar Index- keep in mind seasonality’s turn rather bearish for the greenback into the July open. With that said, here are the trades I’ll be following into the release and setup’s we’re currently tracking on SB Trade Desk.

USDOLLAR Daily

Near-term Setups in AUD, CAD, NZD & USDOLLAR into NFPs

USDOLLAR- Price action remains range-bound ahead of tomorrow’s ADP report. Bottom line I would be looking to sell strength towards confluence resistance at the highlighted region just above the 61.8% retracement at 12064 with a break sub 11965 needed to suggest a more significant reversal is underway.

AUDUSD- I’ve been on the long-side of AUDUSD since last night after the pair rebounded off confluence support around 7424. Highlighted this setup in today’s scalp report- Broadly looking to remain constructive while above the weekly open. Initial targets to keep an eye on are 7571 & 7644.

USDCAD- We alerted clients last night of near-term exhaustion in the USDCAD with the pullback now approaching confluence support around 1.2944. The outlook remains constructive while above the weekly open / 61.8& retracement at 1.2915/17targeting basic trendline resistance extending off the May high.Review latest USDCAD update

NZDUSD- Kiwi has been on fritz lately but our general focus is lower in the pair while below 7200. Although dollar tendencies are weaker into the monthly open, long-term technical resistance leaves the rally vulnerable below the figure and we’ll be looking for a break below 7014 (Brexit hourly high-volume level) in order to safe-guard against selling into constructive price action.

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 3Q Projections

---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