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
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
  • Join @DanielGMoss's #Webinar at 10:00 PM ET/2:00 AM GMT for his weekly coverage of trading prep for $AUDUSD in the week ahead. Register here: https://t.co/wi1qabrtHJ https://t.co/pkiysDzFrD
  • RBA Minutes: Further easing would reduce financial stability risks -BBG $AUDUSD #RBA
  • RBA Minutes: Further easing would gain traction as the economy opens, members considered effect of lower rates on confidence and savers -BBG #RBA $AUDUSD
  • RBA Minutes: Fiscal, monetary support will be needed for some time. Agreed to place more weight on actual over forecast CPI -BBG #RBA $AUDUSD
  • 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
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