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  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.54% 🇪🇺EUR: 0.45% 🇳🇿NZD: 0.41% 🇯🇵JPY: 0.23% 🇦🇺AUD: 0.22% 🇨🇦CAD: -0.05% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/bgTy0ZEXoV
  • Some really great insight and compelling chart setups below. Strongly encourage taking the time to read through my colleague @JStanleyFX's latest take on #StockMarket cycles. https://t.co/erlf7M9z27
  • Tesla, ARKK, Nasdaq 100 and S&P 500: Varying Stages of the Cycle $TSLA $ARKK $NDX $SPX In order from strongest to weakest: 1) SPX 2) NDX 3) TSLA 4) ARK the leaders have become the laggards... https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2021/05/18/Tesla-TSLA-Musk-ARKK-NDX-SPX-varying-stages-of-market-cycle.html
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  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: FTSE 100: -0.13% US 500: -0.15% Germany 30: -0.17% Wall Street: -0.23% France 40: -0.25% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/c6YWLXdVAI
  • $GBPUSD retesting that Feb 24 swing high is one thing, but to put it into context, that is just off the confluence 2018 double top and midpoint of the 2014-Present range at ~1.4300 https://t.co/EgqXHjVyS5
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.69% 🇳🇿NZD: 0.53% 🇪🇺EUR: 0.51% 🇦🇺AUD: 0.34% 🇯🇵JPY: 0.30% 🇨🇦CAD: 0.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/nNmXsCogu7
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.03% US 500: -0.05% France 40: -0.12% Germany 30: -0.18% Wall Street: -0.32% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/fC4rLYXZVW
  • Hey traders! The lift in sentiment is inconsistent. What are some themes we should be looking out for? Find out from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/E9XhGxkm9s
  • Gold bulls remain in control with the precious metal closing above its 200DMA for the first time since early February. The combination of lower real yields and a softer USD. Get your $XAUUSD market update from @JMcQueenFX here:https://t.co/IIrfUPkoMr https://t.co/XAL6wh90Uz
Weekly Trade Levels for EUR/USD, NZD/USD, USD/CAD, Gold, Oil & More

Weekly Trade Levels for EUR/USD, NZD/USD, USD/CAD, Gold, Oil & More

Michael Boutros, Strategist

New to Forex Trading? Get started with this Free Beginners Guide

Key USD Setups in Play Heading into the Start of 2Q

It’s the start of a new week, month and quarter with the US Dollar majors trading within well-defined technical setups as we head into the open. Keep in mind we have the Reserve Bank of Australia (RBA) interest rate decision on tap tonight with US Non-Farm Payrolls (NFP) and Canada employment data slated for Friday. The In this webinar we review updated technical setups on DXY, EUR/USD, NZD/USD, USD/CAD, GBP/USD, Crude Oil (WTI), Gold, AUD/USD, EUR/NZD and EUR/AUD.

Why does the average trader lose? Avoid these Mistakes in your trading

Key Technical Levels in Focus

EUR/USD – Focus is on a reaction of confluence support around the 2018 low at 1.1215 – a break / close below exposes key Fibonacci support at 1.1186. Initial resistance at 1.13 with near-term bearish invalidation at 1.1330.

NZD/USDKiwi rebounded off slope support last week with price still trading within the 2019 consolidation range. Key support at last week’s low – resistance at 6837 backed by 6870/76. A break / close lower would exposes the 200DMA at 6735 and 6722.

USD/CAD – Key near-term confluence support at 1.3327– Initial resistance at 1.3407 with 1.3435/37 still critical. A break lower shifts the focus towards subsequent support objectives at 1.3280 & 1.3250.

Gold – Near-term risk remains lower after last week’s outside reversal just pips away from the high-week close at 1327. Looking for a low in gold prices closer to 1275 or 1253/58.

For a complete breakdown of Michael’s trading strategy, review his Foundations of Technical Analysis series on Building a Trading Strategy

Key Event Risk This Week

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Active Trade Setups:

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

Follow Michael on Twitter @MBForex

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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