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 Testing June Lows – Gold / SPX Testing Major Resistance
The US Dollar index has posted a four-week decline with price poised to open the week just above long-term slope support / the 50% retracement of the 2018 rally at 95.62 – the bears may be vulnerable into the start of the week while above this threshold. Meanwhile, the gold rally has already completed a six-week advance with price now probing multi-year Fibonacci resistance at 1821- we’re looking for a reaction here early in the week. In this webinar, we review the updated technical trade setups on DXY, EUR/USD, Silver, GBP/USD, NZD/USD, USD/CAD, USD/MXN, AUD/USD, Gold (XAU/USD), S&P 500 (SPX500), and USD/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
