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Technical Trade Levels: Dollar, USD/MXN, NZD/USD, USD/CAD, Oil & Gold

Technical Trade Levels: Dollar, USD/MXN, NZD/USD, USD/CAD, Oil & Gold

Michael Boutros, Strategist

Weekly Technical Trade Levels on USD Majors / Commodities

US Dollar, Euro Consolidate within April Range - Gold Vulnerable – Oil Targets Key Support

The US Dollar Majors have been consolidating within their respective monthly opening-ranges and we’re looking for breakouts this week to offer some guidance. Gold prices are rebounding off uptrend support into the start of the week but the metal remains vulnerable for a deeper set-back while below the high-day close at 1726. Meanwhile, the oil decline has taken another leg down today with WTI approaching key long-term lateral support targets just lower. In this webinar, we review the updated technical trade setups on DXY, EUR/USD,USD/CAD, CAD/JPY, GBP/USD, Gold(XAU/USD), USD/MXN, AUD/USD, NZD/USD, S&P 500 (SPX500),Crude Oil (WTI), USD/CHF, and DAX.

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 - Weekly Event Risk

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.

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