Technical Trade Levels: US Dollar, AUD/USD, USD/CAD, S&P 500 & Gold
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 DXY, AUD/USD, USD/CAD, S&P 500, Gold and more
- New to Gold Trading? Get started with this Free How to Trade Gold -Beginners Guide
Markets Weigh Stimulus vs Length of Coronavirus Shut-Down - Gold Rebound in Focus
We’re heading into the close of one of the most volatile months / quarters in recent history as the growing Coronavirus global pandemic threatens to put the US economy into a deep recession. Congress passed the largest stimulus ever last week with the $2.2 trillion aid packaged aimed at easing the effects of a nationwide shutdown – which has now been extended into the close of April. The US dollar is finding some support early in the week, but the broader risk remains weighted to the downside while below the big figure (100). Gold continues to hold just below key near-term resistance and the focus is on a reaction up here. In this webinar, we review the updated technical trade setups on DXY, EUR/USD, GBP/USD, AUD/USD, Gold (XAU/USD), USD/CAD, Crude Oil (WTI), S&P 500 (SPX500) and USD/JPY.
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
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.