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
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
GBP/USD
Mixed
USD/JPY
Mixed
Gold
Bullish
Oil - US Crude
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
Bitcoin
Mixed
More View more
Real Time News
  • Get your stock market basics right - what is the stock market and how does stock trading work? Find out here: https://t.co/JfAJLAtlsY https://t.co/ZfPUxHWeiG
  • The Mexican economy contracted for the first time in almost 10 years in 2019, but growth is expected to pick up in 2020 according to its finance minister. Get your $USDMXN market update from @HathornSabin here: https://t.co/gupJdU7WYT https://t.co/mMN8LFb5i5
  • EUR/USD has been weakening since the start of 2020 and the decline has accelerated this month. At some point there will be a correction but further losses are still likely as the year progresses. Get your $EURUSD market update from @MartinSEssex here: https://t.co/ieJUBNeAIf https://t.co/Dw4f7DQocg
  • The $AUD has risen in anticipation of a deal Washington and Beijing. But the Australia-China trade relationship has not suffered much and may even have been helped by China’s spat with the US. Get your market update from @DavidCottleFX here:https://t.co/An7h5X0Zcz https://t.co/Rn7mLbS1EF
  • How can traders avoid #FOMO in trading? Start by implementing a well-heeled plan taking only four hours per week. Get your insight from @JStanleyFX here: https://t.co/vwUShQPc27 #tradingstyle https://t.co/0Wn4xBL0AY
  • Do you know which type of stock is the right investment for you? Stock types help investors decide on specific #stocks to trade or assist with valuation methods either fundamentally or technically. Learn more about stock types here: https://t.co/yO3JalkqUU https://t.co/RoNdExHAdt
  • The status of the US #dollar as the safe-haven asset of choice remains untouched and any weakness in the greenback is likely to be short-lived. Get your $USD market update from @nickcawley1 here: https://t.co/LO2u38jpUT https://t.co/ctgCJSOeTH
  • #FTSE 100 testing key support as the index lacks a directional bias. #DAX reverses off channel top. Get your indices technical analysis from @JMcQueenFX here: https://t.co/IHF2dgMfg9 https://t.co/2fMTFlOeTR
  • With knowledge of price action, traders can perform a wide range of technical analysis functions without the necessity of any indicators, including management of risk. Build on you knowledge of price action here: https://t.co/9hQA0bsYtt https://t.co/5KQowxuiBf
  • The term ‘Ichimoku,’ literally means ‘one glance,’ in Japanese. Ichimoku, or the one glance indicator, is considered to be a self-contained system in the fact that no additional indicators are necessary. Learn more about the 'one glance' indicator here: https://t.co/T7o7W9C0Ro https://t.co/7bhBfWvEkR
Technical Trade Levels: US Dollar, USD/CAD, EUR/USD, Crude Oil & Gold

Technical Trade Levels: US Dollar, USD/CAD, EUR/USD, Crude Oil & Gold

2020-01-27 16:57:00
Michael Boutros, Technical Strategist
Share:

Weekly Technical Trade Levels on USD Majors / Commodities - FOMC / BoE on Tap

US Dollar Breakout Under Review Ahead of FOMC- Gold Prices Rally at Resistance

We’re heading into the final week of January trade with the FOMC & BoE interest rate decision on tap. The recent USD breakout is attempting to mount significant technical resistance here and heading into the releases the focus is on the Majors with numerous setups testing big inflections zones early in the week. In this webinar, we review the updated technical trade setups on DXY, EUR/USD, GBP/USD, USD/JPY, USD/CAD, AUD/USD, NZD/USD, Gold(XAU/USD), Crude Oil, USDCHF and SPX.

Starts in:
Live now:
Feb 24
( 13:02 GMT )
Live Weekly Strategy Webinars on Mondays at 12:30GMT
Weekly Scalping Webinar
Register for webinar
Join now
Webinar has ended

Key Trade Levels in Focus

US Dollar – The US Dollar Index is attempting a breakout above key long-term Fibonacci resistance at 97.87 with slope resistance eyed just higher near the 98-handle. Looking or a reaction here early in the week. Initial support 97.80 backed by 97.71 with bullish invalidation now raised to 97.62. Review my latest US Dollar Price Outlook for a closer look at the longer-term weekly DXY technical trade levels.

EUR/USD Euro testing confluence support at 1.1018/24 into the open of the week – look for a reaction here with a break lower exposing 1.0994 & 1.0976- both levels of interest for possible downside exhaustion IF reached. Initial resistance near 1.1040 with bearish invalidation at 1.1080/92. Review my latest Euro Price Outlook for a closer look at then near-term EUR/USD technical trade levels.

USD/CAD – Price is trading into a key resistance zone early in the week at 1.3182/84 – watch the close in relation to this threshold with the immediate USD/CAD advance vulnerable while below. Weekly open support at 1.3153 backed by near-term bullish invalidation at the 1.31-handle. A topside breach from here would expose subsequent topside resistance objectives at 1.3247 and 1.3280. Review my latest weekly Canadian Dollar Price Outlook for a closer look at the USD/CAD near-term technical trade levels.

GoldGold testing a region of lateral resistance at 1586- watch the close with a breach exposing confluence resistance at 1595. Interim support 1568 with bullish invalidation at around ~1550.Review my latest Gold Price Outlook for a closer look at the near-term XAU/USD technical trade levels.

Gold Forecast
Gold Forecast
Recommended by Michael Boutros
Download our latest Quarterly Gold Forecast
Get My Guide

Crude OilOil prices testing initial support targets at the 2019 low-day close at 52.29 with key Fibonacci support seen just lower at 51.34/67. Looking for a reaction off one of these levels with the immediate short-bias vulnerable while above 51.34. Initial resistance at 54.11/24 with bearish invalidation at 56.57. A break below key support exposes subsequent objectives at the 2019 lows at 50.51. Review my latest Crude Oil Price Outlook for a closer look at the near-term WTI technical trade levels.

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

Key Data Releases - Economic Calendar - USD Majors

Economic Calendar - latest economic development and upcoming event risk

Forex for Beginners
Forex for Beginners
Recommended by Michael Boutros
New to Forex Trading? Get started with this Beginners Guide
Get My 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.