Webinar: Start of Month, Quarter Yields Fresh Scalp Opportunities
- Weekly webinar covering featured scalp setups
- Updated targets & invalidation levels
- Event Risk on Tap This Week
The first full week of April / 2Q trade has us focused on the dollar crosses on the back of Friday’s Non-Farm Payrolls report. Although the report showed an uptick in the unemployment rate, the move came alongside a braodening in the labor force participation rate- a positive development for the U.S. economy. Still, its important to remember that the Fed’s main concern at this point remains the inflationary outlook and as such, we do not expect Friday’s print to have a lasting impact on price.
We’re looking for USDOLLAR strength early in the week with the GBPUSD & USDCAD setups in play. AUDUSD will be of particular interest heading into tonight’s RBA interest rate decision after the pair reversed off slope resistance on Friday. We also discussed key levels on CADJPY, EURGBP, Crude Oil & the SPX heading into the monthly open. Continue to track these setups and more throughout the week-Subscribe to SB Trade Desk and take advantage of the DailyFX New Subscriber Discount!
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Relevant Data Releases
Check out SSI to see how retail crowds are positioned as well as open interest heading into March trade.
Other Setups in Play:
- USDOLLAR Braces for NFPs- Rally to Offer Favorable Short Entries
- USDOLLAR at Cross Roads Heading Into 2Q- Initial Support 11970
- Webinar: Month / Quarter End Setups- USD Crosses in Play Ahead of NFP
- AUD/USD in Correction- 7590 Key Resistance
- USD/CAD Low in Place? Breach Above 1.3240 to Confirm
---Written by Michael Boutros, Currency Strategist with DailyFX
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.