Technical Trade Levels: Dollar, EUR/USD, USD/CAD, USD/MXN, Gold & SPX
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, EUR/USD, USD/CAD, USD/MXN, Gold, SPX and more!
- New to Gold Trading? Get started with this Free How to Trade Gold -Beginners Guide
Critical Pivots for USD Majors - Gold Breakout Seeks Validation
The US Dollar Index (DXY) rallied into a critical resistance zone last week at 97.71/87 and the focus is on a reaction against this level to start the week with price already poised to mark an outside-day reversal in early New York trade. Likewise the USD Majors are in a similar scenario with Euro & Sterling testing near-term support zones. A close examination of the gold price breakout keeps the focus on today’s close with the rally vulnerable while below the yearly high at 1765. In this webinar, we review the updated technical trade setups on DXY, USD/CAD,Gold(XAU/USD), NZD/USD, USD/MXN, EUR/USD, GBP/USD, AUD/USD, USD/CHF and S&P 500 (SPX500).
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
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.