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Technical Trade Levels: Dollar, USD/CAD, AUD/USD, Gold, SPX & Oil

Technical Trade Levels: Dollar, USD/CAD, AUD/USD, Gold, SPX & Oil

Michael Boutros, Strategist

Weekly Technical Trade Levels on USD Majors / Commodities

Dollar Rebound Could be Short-Lived - Gold Reversal Approaching Near-term Support

Last week’s rebound in the US Dollar off support may have room to stretch but the focus is on topside exhaustion in the DXY just higher. Likewise the USD Majors are in focus with Euro, Loonie, Aussie and Sterling all reacting to key technical barriers last week. For gold, the outlook hinges on support just lower near 1700- weakness beyond this threshold could expose a larger correction in price. In this webinar, we review the updated technical trade setups on DXY, EUR/USD, USD/CAD, AUD/USD, GBP/USD, S&P 500 (SPX500), Gold(XAU/USD), Crude Oil (WTI), USD/CHF and Silver (XAG/USD).

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 - Key Data Releases - Weekly Event Risk

Economic Calendar - latest economic development and upcoming event risk

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

Follow Michael on Twitter @MBForex

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