Webinar: FOMC Setups We’ll be Trading as Yellen Takes Center Stage

Talking Points

• Weekly DailyFX Scalp Webinar archive covering featured setups
• Updated targets & invalidation levels
• Event Risk on Tap This Week

USDOLLAR Daily

Chart Created Using FXCM Marketscope 2.0

Notes: The USDOLLAR will be central focus heading into what will probably be the most important FOMC interest rate decision this year. Last week’s break back below confluence support at the monthly open has shifted the short-side bias back into play with our near-term bearish invalidation level steady at 12028. Near-term support is eyed at 11936/42 backed by the 100DMA & 11906.

GBPUSD Daily

Notes: The 1.5447/60 resistance zone highlighted last week remains in focus heading into key U.K. inflation data tomorrow and U.S. event risk later in the week. Key support & near-term bullish invalidation level remains at the 1.5340 confluence region with a breach higher targeting resistance objectives at the 100DMA at 1.5515 & the 1.5560/67 confluence zone. Scalp levels unchanged from last week.

GBPAUD Daily

Notes:An attempt to breach above the high-day close at 2.2037 saw a quick snapback with the pair now testing support / bullish invalidation noted last week at 1.1420-1.1527. This key support zone is defined by the July high, the August opening range high, the September opening range low and basic trendline support extending off the May low. A break below this support structure would suggest a much more significant correction may be on the cards for the pair with such a scenario eyeing subsequent support objectives into the August low / 2.0832.

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Relevant Data Releases

Other Setups in Play:

• GBPUSD Rebound Sets Up Clear Scalp Levels Ahead of Major Event Risk
• Scalping GBPAUD Pullback- Targets in View Ahead of Aussie Data, BoE
• USDCAD Levels to Know Ahead of BoC - 1.3335 Marks Critical Resistance
• USDJPY Battle Lines Drawn Ahead of NFPs- Short Scalps Favored Sub 120.80
• AUDNZD: Rinse & Repeat- Reversal Scalp Back in Play Ahead of GDP

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

Follow Michaelon Twitter @MBForex, contact him at mboutros@dailyfx.com or Click Here to be added to his email distribution list

Join Michael for Live Scalping Webinars on Mondays on DailyFX at 12:30 GMT (8:30ET)

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