- U.S. Elections to represent major event risk- USD, JPY crosses in focus
- Updated targets & invalidation levels
- Looking for trade ideas? Review DailyFX’s 2016 4Q Projections
With the U.S. Presidential Elections just 24-hours away, the majors remain at risk for a surge in volatility with our focus on the USD crosses heading into tomorrow. A wide-spread gap in yen crosses have also shifted our attention to opportunities in AUDJPY & USDJPY both of which continue to flirt with near-term resistance.
We’ll want to keep positioning light until the dust settles with the bulk of the volatility likely to come in at the Asia-open as the election results trickle in late-Tuesday night. Key technical setups discussed on DXY, USDOLLAR, AUDUSD, AUDJPY, USDJPY, AUDNZD, Crude, USDCAD, EURUSD, GBPUSD, Silver & Gold.
Relevant Data Releases
Other Setups in Play:
- Gold Prices Brace for Volatility as Election Day Looms
- NFP to Make or Break U.S. Dollar Support
- Near-term Setups in AUDNZD, NZDUSD & EURCAD
- Is the Bow About to Break? GBP/JPY at Support Ahead of Super Thursday
- AUD/USD Remains Constructive Above 7511 Heading into RBA
---Written by Michael Boutros, Currency Strategist with DailyFX
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