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 Dollar, GBP/USD, USD/MXN, AUD/USD, Gold, SPX and more!
- New to Gold Trading? Get started with this Free How to Trade Gold -Beginners Guide
Dollar Losses take Index Towards Support- Gold at Key Resistance Zone
The Dollar Index fell more than 6.5% off the yearly highs with last week’s decline testing objective yearly-open support at 96.50. While the broader risk remains tilted to the downside, the immediate decline may be vulnerable while above this threshold. Likewise, the gold price sell-off tested a critical support confluence last week and the focus is on a reaction off 1669/73. The same technical stance can be seen across the USD Majors and levels are clear as we head into this week’s FOMC interest rate decision. In this webinar, we review the updated technical trade setups on DXY, EUR/USD, GBP/USD, USD/JPY, USD/CAD, USD/MXN, Gold (XAU/USD), S&P 500 (SPX500), AUD/USD, and GBP/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
