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Webinar: Sterling Crosses On the Offensive- Yellen to Steer the Dollar

Webinar: Sterling Crosses On the Offensive- Yellen to Steer the Dollar

2016-08-22 16:05:00
Michael Boutros, Strategist
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  • 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

Webinar: Sterling Crosses On the Offensive- Yellen to Steer the Dollar

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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