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  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.43%, while traders in Germany 30 are at opposite extremes with 80.92%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/klgOuNPYtk
  • Indices Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Wall Street: 1.45% US 500: 0.20% France 40: -0.10% Germany 30: -0.25% FTSE 100: -0.33% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/umSIPmSxrY
  • $EURCAD has continued to head lower today, now trading right around the 1.5000 level. The pair hit a fresh one-year low, currently trading at its lowest level since early March of last year. $EUR $CAD https://t.co/Oj9JYasyTU
  • US Indices are rebounding from last week's sell off today. The Dow is leading the way, rising to a fresh all-time high. The Nasdaq remains negative for the day. DOW +2.00% NDX -0.55% SPX +0.91% RUT +1.70% $DIA $QQQ $SPY $IWM
  • Another look at the deviation in 'internal' interest in US equities: the candle is the Nasdaq 100 to S&P 500 ratio ($NDX-$SPX) overlaid with the S&P 500 itself in blue https://t.co/m2WK4Q2Bs5
  • A notable deviation in direction from the tech-heavy Nadex composite (candle) overlaid with the S&P 500 in blue. The 5-day correlation is still holding up but will start deviating fast at this pace https://t.co/VYY5imk1yS
  • $USD has been pretty strong over the past couple of weeks and to a lesser degree, so far in 2021 but we've only retraced about 23.6% of that massive sell-off that started last March $DXY https://t.co/t5KRSYu0TP
  • EUR/USD trades to a fresh yearly low (1.1857) as longer-dated US Treasury yields continue to push above pre-pandemic levels. Get your $EURUSD market update from @DavidJSong here:https://t.co/XWIah8irtj https://t.co/GIXPFZz2qQ
  • USD/MXN has continued to rip in 2021, flying in the face of the bearish trend from 2020. Get your $USDMXN market update from @JStanleyFX here:https://t.co/uePriXERH8 https://t.co/qRjLbgglov
  • $USDMXN strong breakout from the falling wedges that had built coming into this year. Prices now finding resistance at 50% marker of the 2017-2020 major move whether looking for usd strength or weakness, there's attractive items on $USDMXN for either https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2021/03/08/Mexican-Peso-Price-Forecast-MXN-USDMXN-USD-MXN-Breakout-to-Fibonacci-Resistance.html https://t.co/7TwqgZDXfH https://t.co/ocsiEw3IwC
Webinar: Brexit Play Book-  GBP to Come in Focus Post Fed Testimony

Webinar: Brexit Play Book- GBP to Come in Focus Post Fed Testimony

Michael Boutros, Strategist
  • Setups in focus ahead of Brexit – Humphrey Hawkins Testimony
  • Updated targets & invalidation levels

All eyes are on the upcoming UK Referendum this week with the latest polls showing a slight tilt in favor of the “remain” vote. Keep in mind we also have the semi-annual Humphrey Hawkins Testimony on tap this week with Yellen giving remarks before the Senate Banking Committee and the House Financial Services Committee. On the back of last week’s dovish FOMC statement, traders will be lending a keen ear to Yellen’s remarks as it pertains to the timing of future rate hikes. Fed Funds Futures markets remain pessimistic on the odds of a hike any time soon, with no rate hike priced at least through February 2017.

We reviewed setups we’re following on SB Trade Desk as well as the sterling pairs in focus heading into the Brexit vote on Thursday. Continue tracking these setups and more throughout the week- Subscribe to SB Trade Desk and take advantage of the DailyFX New Subscriber Discount.

Check out SSI to see how retail crowds are positioned as well as open interest heading into the open of June trade.

Relevant Data Releases

Webinar: Brexit Play Book-  GBP to Come in Focus Post Fed Testimony

Help fine-tune you entries, click here to learn more about the DailyFX Grid Sight Index (GSI)

Other Setups in Play:

Looking for trade ideas? Review DailyFX’s 2016 2Q Projections!

---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 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.

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