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

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

Michael Boutros,
What's on this page

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.