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Technical Trade Levels: Dollar, EUR/USD, GBP/USD, USD/CAD, Gold & SPX

Technical Trade Levels: Dollar, EUR/USD, GBP/USD, USD/CAD, Gold & SPX

2020-07-20 15:30:00
Michael Boutros, Strategist
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Weekly Technical Trade Levels on USD Majors / Commodities

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.

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

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

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