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 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 - latest economic development and upcoming event risk
---Written by Michael Boutros, Currency Strategist with DailyFX
Follow Michael on Twitter @MBForex
