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Webinar: Big Data Week to Threaten USD- RBA, BoE, NFP Setups in Focus

Webinar: Big Data Week to Threaten USD- RBA, BoE, NFP Setups in Focus

Michael Boutros,

Talking Points


Chart Created Using FXCM Marketscope 2.0

Notes: Aussie responded to confluence support late last week with the 7065 – 7202 range in focus to start the week / month. As discussed in today’s webinar, a breach higher shifts the focus to the topside targeting 7278/80 backed by the October highs at 7386. A break sub-7000 would be needed to put the broader downside bias in play. Note that daily momentum has held above 40 with a pending resistance trigger in view.

Keep in mind we have the RBA Interest Rate Decision on tap tonight followed by September Trade Balance & Retail Sales figures tomorrow night and is likely to fuel added volatility in the Aussie crosses.


Notes: GBPUSD opened the week / month just below the October stretch high with daily momentum testing a resistance trigger dating back to the yearly high. Immediate risk is to the downside while below 1.55 with a break sub-1.5370 targeting a trendline confluence around ~1.5270. A breach higher invalidates the short-bias targeting more significant resistance at the 1.5615/42.

The BoE Interest Rate Decision and Inflation Report are on tap for Thursday with Industrial/Manufacturing Production & Trade Balance figures slated for Friday alongside the U.S. Non-farm payroll report.

For updates on these setups and more throughout the week subscribe to SB Trade Desk

Relevant Data Releases Next Week

Other Setups in Play:

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

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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)

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