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.

Free Trading Guides
EUR/USD
Mixed
GBP/USD
Bullish
USD/JPY
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • $EURUSD Daily Pivot Points: S3: 1.0936 S2: 1.0974 S1: 1.0998 R1: 1.1037 R2: 1.1052 R3: 1.109 https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • The $CAD continues to take a hit against the US Dollar after USD/CAD very nearly experienced a major long-term support-break at the end of October. Get your USD/CAD market update from @PaulRobinsonFX here:https://t.co/qeWFmoLwKt https://t.co/G0o4uIV2k7
  • US Yield Curves Update: 2Yr/5Yr: 3.8 2Yr/10Yr: 22.2 2Yr/30Yr: 69.5 5Yr/10Yr: 18.6
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.51% 🇳🇿NZD: 0.34% 🇪🇺EUR: 0.28% 🇬🇧GBP: 0.17% 🇨🇭CHF: -0.17% 🇯🇵JPY: -0.32% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Wdqln8EdxW
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.12% Gold: -0.29% Silver: -0.39% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/JRPr0hEqpC
  • $NZDJPY: The back-and-forth we have seen since the summer bottom could be taking on a large bear-flag, but that won’t be validated until the lower threshold is broken. Get your market update from @PaulRobinsonFX here:https://t.co/xBXm7PWHhn https://t.co/j4JNtpycsU
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.55%, while traders in France 40 are at opposite extremes with 86.01%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/SWn7XmGR9s
  • $USDJPY Daily Pivot Points: S3: 108.72 S2: 108.77 S1: 108.8 R1: 108.85 R2: 108.87 R3: 108.92 https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • I guess I should have bought that 'Dow 30,000' joke hat back in 2007 (just over double the high back then)
  • US Equities Update (Friday Close): $DJI +0.80% $SPX +0.74% $NDX +0.70% $RTY +0.47% $VIX -8.47%
Weekly Trade Levels: US Dollar, EUR/USD, USD/CAD, SPX, Gold & Silver

Weekly Trade Levels: US Dollar, EUR/USD, USD/CAD, SPX, Gold & Silver

2019-08-26 15:00:00
Michael Boutros, Technical Strategist
Share:

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

Volatility Surges into the Weekly Open - Gold / Silver Breakouts Vulnerable

The start of the week has seen a surge in volatility as headlines regarding the ongoing US / China trade war continue to circulate. Our focus has been & remains on price action- watch the closes early in the week. If these reversals fail to maintain breakout support, things could turn aggressively. In this webinar we review updated technical setups on DXY, EUR/USD, GBP/USD, USD/CAD, Gold (XAU/USD, SPX (S&P 500), Silver (XAG/USD), Oil (WTI) and USD/JPY.

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

Key Trade Levels in Focus

DXY – The Dollar recovery remains vulnerable while below the high-day close at 98.40. Support at 97.21/31 with a break / close below 96.98-97.02 needed to suggest a larger correction is underway. A topside breach would exposes 98.69.

EUR/USD – Near-term resistance at 1.1167/74 with bearish invalidation at 1.1186/89- a breach / close above there is needed to suggest a larger recovery is underway in Euro. Initial support at 1.1106 with key support at 1.1066/75- weakness beyond this threshold would keep the focus on the yearly lows at 1.1027.

USD/CADLoonie remains in consolidation just below key resistance at 1.3338/55. Near-term support at 1.3252 – a break below this threshold would shift the focus towards monthly open support at 1.3191. A topside breach / close is needed to mark resumption targetingthe median-line (~1.34) and1.3435/37.

Gold Prices- Focus is on a key pivot zone in gold we’ve been tracking at 1522/26. A close above would leave the breakout viable targeting 1558 and the upper parallels. Key support / near-term bullish invalidation at 1494/96.

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 - Key Data Releases

Economic Calendar - latest economic developments and upcoming event risk

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.

DISCLOSURES

News & Analysis at your fingertips.