Advertisement
Canada markets closed

  • S&P/TSX

    21,807.37
    +98.93 (+0.46%)
     

  • S&P 500

    4,967.23
    -43.89 (-0.88%)
     

  • DOW

    37,986.40
    +211.02 (+0.56%)
     

  • CAD/USD

    0.7275
    +0.0012 (+0.16%)
     

  • CRUDE OIL

    83.24
    +0.51 (+0.62%)
     

  • Bitcoin CAD

    88,210.30
    +799.92 (+0.92%)
     

  • CMC Crypto 200

    1,381.13
    +68.51 (+5.22%)
     

  • GOLD FUTURES

    2,406.70
    +8.70 (+0.36%)
     

  • RUSSELL 2000

    1,947.66
    +4.70 (+0.24%)
     

  • 10-Yr Bond

    4.6150
    -0.0320 (-0.69%)
     

  • NASDAQ

    15,282.01
    -319.49 (-2.05%)
     

  • VOLATILITY

    18.71
    +0.71 (+3.94%)
     

  • FTSE

    7,895.85
    +18.80 (+0.24%)
     

  • NIKKEI 225

    37,068.35
    -1,011.35 (-2.66%)
     

  • CAD/EUR

    0.6824
    +0.0003 (+0.04%)
     

Setups in AUDJPY, AUDCHF, GBPUSD Ahead of FOMC

Michael Boutros

DailyFX.com -

AUDJPY- We've reacted to near-term confluence resistance & while the immediate bias is lower, we'll be looking for this pullback to offer more favorable long entries. Review AUDJPY Update

AUDCHF- Our outlook turned bearish last week after the pair marked an outside-day reversal candle off our final resistance target at 7546/54. Bias remains weighted to the short-side near-term while below this mark. Again here we would ultimately be looking for the pullback to offer better long entries lower down. Review AUDCHF Update

GBPUSD- Sterling came into resistance on Friday at the 2/19 uncovered close before pulling back. Note that this level converges on the median-line extending January low and may offer more significant support near-term. Interim support at 1.4250 with our bullish invalidation level set to the January low-day close at 1.4218. (interested in long-triggers against this level) Review GBPUSD Update

ADVERTISEMENT

We reviewed these setups & more in today's Weekly Scalp Webinar

Continue tracking these trades 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 deeper into March trade.

---Written by Michael Boutros, Currency Strategist with DailyFX

Follow Michael on 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)


original source

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.