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 US Dollar, USD/CAD, AUD/USD, Gold, SPX,Crude Oil and more!
- New to Gold Trading? Get started with this Free How to Trade Gold -Beginners Guide
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 - latest economic development and upcoming event risk
---Written by Michael Boutros, Currency Strategist with DailyFX
Follow Michael on Twitter @MBForex
