News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Real Time News
  • Implementing a trading checklist is a vital part of the trading process because it helps traders to stay disciplined, stick to the trading plan, and builds confidence. Learn how to stick to the plan, stay disciplined, and use a checklist here:
  • We are heading into a Tuesday lull which precedes Wednesday's FOMC focus. Will the absence of distractions allow for risk trends to gain momentum or perhaps will Fed anticipation temper the $SPX tumble? My take:
  • CTV projects Trudeau wins his third term as Canada's Prime Minister - BBG
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here:
  • US House Speaker Pelosi says top-line spending number may change but hopes for $3.5 trillion in spending bill - BBG
  • RBA Minutes: - Board committed to providing high level of monetary support - Q3 GDP expected to decline materially - Central scenario is rates on hold until 2024 - BBG $AUDUSD
  • Heads Up:🇦🇺 RBA Meeting Minutes due at 01:30 GMT (15min)
  • New Zealand reports 14 new local Covid cases - BBG
  • I had a chance to talk with @tastytradeRyan and @victorJ0NES about Evergrande and its impact on US markets — always great talking with these two guys on Mondays.
  • RT @cheddar: Stocks dropped the most since May on Monday, sending shockwaves through Wall Street. @CVecchioFX explains the global impact of…
Weekly Trade Levels for US Dollar, Euro, Aussie, Loonie, Gold & Oil

Weekly Trade Levels for US Dollar, Euro, Aussie, Loonie, Gold & Oil

Michael Boutros, Strategist

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

US Dollar Under Duress Post-NFP – Exhaustion Ahead?

The US Dollar remains in a precarious position heading into the open of the week. The decline off the yearly highs has taken price to levels not seen since March with the US Dollar Index (DXY) straddling Fibonacci support on the back of Friday’s NFP report. While the broader risk remains weighted to the downside, the immediate decline may be vulnerable near-term with numerous crosses testing key technical pivot zones early in the week. In this webinar we review updated technical setups on DXY, EUR/USD, AUD/USD, NZD/USD, USD/CAD, Gold, Crude Oil (WTI), SPX (S&P 500), GBP/USD & USD/JPY.

Key Trade Levels in Focus

DXY – Interim resistance at 97.16 backed by 97.58. Downside support objectives unchanged at 96.31 & the yearly open at 96.14- look for a bigger reaction there IF reached.

EUR/USD – Interim support around 1.13 with near-term bullish invalidation at 1.1251. Topside resistance objectives at 1.1375 and the 61.8% retracement of the yearly range at 1.1393.

AUD/USD – Key resistance range at 7005/018 (with the yearly open just higher at 7042). Interim support 6957/62 with bullish invalidation at 6925/26.

USD/CAD – Interim resistance at 1.3330s backed by near-term bearish invalidation at 1.3357. Weekly open support at 1.3238 with a break lower targeting subsequent support objectives at 1.32 and 1.3175.

Gold – Rally tested the 2018 high-day close on Friday at 1348 – risk for a larger set-back while below the yearly high-close at 1341 - Look for possible exhaustion at 1316 & 1307 IF reached. A topside breach keeps the focus on 1366.

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

Economic Calendar

Economic Calendar - latest economic developments and upcoming event risk

Active Trade Setups:

Learn how to Trade with Confidence in our Free Trading Guide

---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.