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, AUD/USD, USD/MXN, Gold, SPX and more!
- New to Gold Trading? Get started with this Free How to Trade Gold -Beginners Guide
US Dollar Test Yearly Open Support - Gold Breakout Approaching Initial Resistance Hurdle
The US Dollar is trading at yearly open support into the start of the week and we’re looking for a reaction today. Likewise, Euro is trading just below key Fibonacci resistance with the broader rally vulnerable into 1.1370- look for a close above this threshold to keep the long-bias viable in the days ahead. The gold breakout remains in focus with the advance now approaching subsequent resistance objectives near 1820. Stay nimble, the economic calendar is loaded this week. In this webinar, we review the updated technical trade setups on DXY, EUR/USD, GBP/USD, AUD/USD, USD/MXN,S&P 500 (SPX500), Gold (XAU/USD), USD/JPY, Silver and Copper.
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
