- Setups in focus ahead off key event risk this week
- Updated targets & invalidation levels
Seasonal tendencies for the greenback are a bit more positive for the next few weeks so beware of some back-and-forth action this week. That said, all eyes will be on Fed Chair Janet Yellen as she takes to the podium at the Jackson Hole Economic Symposium later this week.
Cable is the strongest performer against the U.S. Dollar to open up the session and setups from the Sterling crosses covered last week remain in focus. The Aussie is also of particular interest and while I’m holding a long from Asia trade last night, we’ll be looking for upcoming resistance into 7650 for possible short-entries.
Key setups discussed on USDOLLAR, GBPJPY, GBPNZD, GBPUSD, AUDUSD, AUDCAD, USDCAD, NZDUSD & AUDNZD. 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 close of June trade.
Relevant Data Releases
Help fine-tune you entries, click here to learn more about the DailyFX Grid Sight Index (GSI)
Other Setups in Play:
- USDCAD in Free Fall: 9-Days Down Ahead of Canada CPI, Retail Sales
- AUDJPY into Fresh Monthly Lows Ahead of AU Employment
- NZD/USD Advance Eyes Key Hurdle at 7300 Ahead of Labor Report
- EUR/USD: Respect this Slope Ahead of Upcoming Data- SSI Points Higher
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
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