- Weekly webinar covering featured scalp setups
- Updated targets & invalidation levels
- Check out FXCM’s Forex Trading Contest!
The Dow Jones FXCM U.S. Dollar Index (Ticker:USDOLLAR) is approaching near-term resistance and we’ll be looking for an exhaustion high early in the week. Setups across the dollar pairs remain in focus with sterling crosses also in play heading into the BoE testimony before parliament this week. Keep in mind we’ll also be looking for a fresh batch of central bank rhetoric with speeches from St Louis Fed President James Bullard, Governor Jerome Powell and Chair Janet Yellen on tap. We discussed key levels on EURUSD, AUDUSD, GBPUSD, USDJPY, USDCAD, GBPJPY, GBPAUD, SPX500 and more.
Event risk is weighted towards the latter part of the week with the Bank of Canada interest rate decision, U.K. GDP, Japanese CPI and U.S. durable goods & GDP highlighting the docket. Continue to track these setups with daily webinars and more updates throughout the week -Subscribe to SB Trade Desk and take advantage of the DailyFX New Subscriber Discount.
Avoid the pitfalls of near-term trading strategies by steering clear of classic mistakes. Review these principles in the "Traits of SuccessfulTraders” series.
Relevant Data Releases
Check out SSI to see how retail crowds are positioned as well as open interest heading into March trade.
Other Setups in Play:
- USDCAD Advance to Face Canadian CPI, Retail Sales- Key Support 1.2980
- USDOLLAR into Resistance- Rally at Risk Sub 11989
- AUD/JPY Targets Support Ahead of Australian Employment Report
- GBP/JPY Rally Eyeing Near-term Resistance Targets
- GBP/USD: UK Employment Game Plan- Constructive Above 1.44
---Written by Michael Boutros, Currency Strategist with DailyFX
Follow Michaelon Twitter @MBForex contact him at mboutros@dailyfx.com or ClickHere 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
