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  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.91%, while traders in US 500 are at opposite extremes with 74.73%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/l7878VS4m7
  • As long as this moves forward, the verbal (Twitter) threats of action between the US and China will garner less and less actual market movement https://t.co/pvGOJuAG4N
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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

2020-04-20 15:30:00
Michael Boutros, Strategist
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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.

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---Written by Michael Boutros, Currency Strategist with DailyFX

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