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.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Oil - US Crude
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
More View more
Real Time News
  • A macro forex trading guide exploring how to trade the Euro vs the Swedish Krona and Norwegian Krone through the prism of the Core-Perimeter model. Get your market update from @ZabelinDimitri here:https://t.co/n6zwlZJmGO https://t.co/F8sLZvRG1q
  • If you missed today's session on IG Client Sentiment where I discussed the outlook for the #DowJones, $AUDUSD and $USDCAD while discussing fundamentals and technicals, check out the recording below and stay tuned for a full report! - https://t.co/2wVxhtItzX
  • Wall Street Futures Update: Dow Jones (+0.213%) S&P 500 (+0.175%) Nasdaq Composite (+0.242%) [delayed] -BBG
  • RT @margaretyjy: Watch my Bloomberg TV interview at 9:00AM Singapore time. Coming in soon! https://t.co/Z6u6offept
  • The Core-Perimeter trading model helps traders understand interactions between global economies, helping to trade the assets embedded in these relationships. Get your market update from @ZabelinDimitri here:https://t.co/dKRAo00lfA https://t.co/jw5uvZBvRx
  • Hello there, traders! It has come to my attention that there have been people pretending to be me on Twitter. If you see anyone doing so, please be sure to report them. My Twitter handle is @ZabelinDimitri. Any variation of that is an imposter. Please spread the word.
  • After approximately 100 votes, it seems that a narrow majority of participants to my poll believe Gold ($GC_F) is going to resolve its congestion with a break lower: https://t.co/NTwXu7ZaGF
  • 🇯🇵 Bank Lending YoY (JUN) Actual: 6.2% Expected: 7.2% Previous: 4.8% https://www.dailyfx.com/economic-calendar#2020-07-07
  • Heads Up:🇯🇵 Bank Lending YoY (JUN) due at 23:50 GMT (15min) Expected: 7.2% Previous: 4.8% https://www.dailyfx.com/economic-calendar#2020-07-07
  • The ASX 200 and AUD/JPY are at risk of losses as cases of Covid-19 continue to climb in Victoria, Australia’s second-most populous state. Get your #ASX market update from @DanielGMoss here: https://t.co/O0LNvhy4eY https://t.co/D0gLVmr3Oy
Scalping EURAUD Pullbacks- Bias Bullish Above 1.4480

Scalping EURAUD Pullbacks- Bias Bullish Above 1.4480

2013-11-21 20:18:00
Michael Boutros, Strategist

Talking Points

  • EURAUD validates channel break out with breach of November / October highs
  • RBA currency intervention threats to exacerbate AUD weakness
  • Looking to buy dips above 1.4480- bullish invalidation

EURAUD Daily Chart

Forex_Scalping_EURAUD_Pullbacks-_Scalp_Bias_Bullish_Above_1.4480_body_Picture_2.png, Scalping EURAUD Pullbacks- Bias Bullish Above 1.4480

Chart Created Using FXCM Marketscope 2.0

Technical Outlook

  • EURAUD confirms channel break dating to the yearly high/ surpasses October high
  • Resistance objectives at 1.4585, 1.4655, 1.4751 and 1.4820
  • Interim support 1.4540, 1.4480- Bullish invalidation
  • Daily RSI tops 60-threshold for the first time since August
  • Momentum support triggers set- Look to dips into 1.4480
  • Key Events Ahead: German IFO Business Climate &ECB Speeches (Noyer, Praet, Nowotny, Draghi, Weidmann) Tomorrow

EURAUD Scalp Chart

Forex_Scalping_EURAUD_Pullbacks-_Scalp_Bias_Bullish_Above_1.4480_body_Picture_1.png, Scalping EURAUD Pullbacks- Bias Bullish Above 1.4480

Notes: The weekly opening range took a while to clear, but did brake to the upside ahead of the European open with price action surpassing the previous months high for the first time since August. Our focus remains weighted to the topside with pullbacks to offer favorable long scalp entries so long as price holds above key support at 1.4475/83. A break below this level puts us neutral with only a break below 1.4420 invalidating this particular setup.

An intra-day momentum support trigger looks poised here and warns of a possible near-term correction lower and as such, we’ll look for a pullback to reset topside triggers. The RBA currency intervention remarks made overnight have helped to keep pressure on the AUDUSD, but keep an eye out tomorrow for central bank rhetoric from ECB officials and German confidence data.

* It’s extremely important to give added consideration regarding the timing of intra-day scalps with the opening ranges on a session & hourly basis offering further clarity on intra-day biases.

Key Threshold Grid

Entry/Exit Targets




Resistance Target 1

Daily / 30min


61.8% Extension

Resistance Target 2



Soft Resistance / Pivot

Bearish Invalidation

Daily / 30min


78.6% Extension / 61.8% Retracement

Break Target 1



Soft Resistance / Pivot

Break Target 2

Daily / 30min


100% Fib Extension

Break Target 3

Daily / 30min


78.6% Retrace / August Uncovered Close

Break Target 4



2013 High Close

Break Target 5



1.618% Ext / 88.6% Retracement

Support Target 1

Daily / 30min


50% Fib Ext / 50% Retracement

Bullish Invalidation

Daily / 30min


38.2% Fib Ext / 88.6% Retrace

Break Target 1



23.6% Ext / 38.2% Retrace

Break Target 2



Soft Support / Pivot

Break Target 1



Weekly Opening Range Low

Break Target 2



23.6% Retracement

Average True Range



Profit Targets 30-32pips

Other Setups in Play:

Trade these setups and more alongside the DailyFX research team everyday with DailyFX on Demand

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

For updates on this scalp and more setups follow him on Twitter @MBForex

To contact Michael email mboutros@dailyfx.com or Click Here to be added to his email distribution list

Join Michael for a Live Scalping Webinar on Monday on DailyFX and Tuesday, Wednesday and Thursday mornings on DailyFX Plus (Exclusive of Live Clients) at 1230 GMT (8:30ET)

Introduction to Scalping Strategies Webinar

Interested in learning about Fibonacci? Watch this Video

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


News & Analysis at your fingertips.