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 EUR/USD, USD/JPY, USD/MXN, SPX, Gold and more!
- New to Gold Trading? Get started with this Free How to Trade Gold -Beginners Guide
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.
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
