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

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

Michael Boutros, Strategist

Weekly Technical Trade Levels on USD Majors / Commodities

US Dollar Plummets to Fresh 2020 Lows – Gold Soars to Fresh Record Highs

To say things are stretched would be an understatement – the Dollar is under pressure into the start of the week with DXY threatening a sixth consecutive weekly decline. The move takes the index into multi-year support and we’re looking for a reaction on the USD majors early in the week. The gold rally is working on an eighth consecutive weekly advance with XAU/USD breaking to a fresh record highs- next measured resistance zone highlights 1983. Keep in mind we have the FOMC interest rate decision and the advanced read on 2Q GPD on tap this week. In this webinar, we review the updated technical trade setups on DXY, EUR/USD, GBP/USD, S&P 500 (SPX500),Gold(XAU/USD), AUD/USD, USD/CAD, USD/MXN,USD/JPY and NZD/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 - Key Data Releases - 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.

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