Weekly Technical Trade Levels on USD Majors / Commodities
- Technical trade setups we’re tracking across the USD Majors / Commodities this week
- Updated trade levels on S&P 500, DXY, EUR/USD, USD/CAD, Gold, Crude Oil and more
- New to Gold Trading? Get started with this Free How to Trade Gold -Beginners Guide
Coronavirus Sell-off Marks Record Declines - US Dollar Slammed as Markets Price Fed Rate-Cut
Last week’s historic risk sell-off marked the largest weekly range ever for the S&P 500 as growing concerns over the Coronavirus continue to weigh on market sentiment. The sudden & sharp market decline has seen interest rate expectations shift dramatically with markets currently pricing in a nearly 100% likelihood the Fed will look to cut interest rates by a full 50bps this month. Accordingly, the US Dollar has come under increased pressure with the index testing the February open / range lows into the open of March trade. In this webinar, we review the updated technical trade setups on DXY, EUR/USD, S&P 500 (SPX500), GBP/USD, USD/CAD, Gold(XAU/USD), Crude Oil, USD/CHF and GBP/USD,
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 - latest economic development and upcoming event risk
---Written by Michael Boutros, Currency Strategist with DailyFX
Follow Michael on Twitter @MBForex
