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Technical Trade Levels: Dollar, EUR/USD, USD/JPY, USD/MXN, SPX & Gold

Technical Trade Levels: Dollar, EUR/USD, USD/JPY, USD/MXN, SPX & Gold

2020-05-11 15:00:00
Michael Boutros, Strategist
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Weekly Technical Trade Levels on USD Majors / Commodities

S&P 500 Testing Critical Resistance Pivot – Dollar Gains Could be Limited

As the economy slowly begins to reopen, market participants are focused on incoming data as it pertains to the spread of Covid-19 and the impact on consumer spending. The S&P 500 is testing a critical resistance pivot for the second time and our focus is on a reaction here with the rally at risk while below 2932. The US Dollar majors are mixed with a breakout in USD/JPY fueling a rally early in the week while Euro, Sterling and Swissy continue to range in early New York trade. In this webinar, we review the updated technical trade setups on DXY, EUR/USD,GBP/USD, USD/JPY, USD/MXN, Gold(XAU/USD), S&P 500 (SPX500), AUD/USD, AUD/NZD and EUR/JPY.

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

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