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

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

2020-05-18 15:00:00
Michael Boutros, Strategist
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Weekly Technical Trade Levels on USD Majors / Commodities

Covid-19 Vaccine Headlines Drive SPX back into Resistance– Gold Breakout Under Review

Markets remain headline driven with the participants focused on the re-opening efforts across the globe and extremely sensitive news on developments in Covid-19 therapeutics / vaccines. Despite the recent volatility, markets largely remain rangebound with price action across the majors continuing to contract within the monthly opening-ranges. The gold breakout is in question as price tests fresh multi-year highs and we’re looking for guidance with today’s close. In this webinar, we review the updated technical trade setups on DXY, EUR/USD,USD/JPY, USD/CAD, Crude Oil (WTI), GBP/USD, Gold(XAU/USD), S&P 500 (SPX500), AUD/USD, NZD/USD, AUD/NZD and EUR/JPY.

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

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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