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Technical Trade Levels: Dollar, Gold, EUR/USD, AUD/USD, USD/CAD & USD/MXN

Technical Trade Levels: Dollar, Gold, EUR/USD, AUD/USD, USD/CAD & USD/MXN

Michael Boutros, Strategist

Weekly Technical Trade Levels on USD Majors / Commodities

USD at Trend Extremes into August Open – Gold Breakout Testing Initial Resistance at Record Highs

The US Dollar Majors are trading into critical technical levels into the open of August trade. An unrelenting, multi-week USD sell-off was halted on Friday and the immediate focus is on whether the near-term recovery in the greenback is just a relief rally or the start of a larger rebound. Gold has responded to the first measured resistance target at fresh record highs at 1983- we’re looking for a reaction off this mark early in the month. In this webinar, we review the updated technical trade setups on DXY, EUR/USD,AUD/USD,Gold(XAU/USD), USD/CAD, S&P 500 (SPX500),USD/JPY, USD/MXN,NZD/USD, USD/CHF, Silver, Oil and GBP/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 USD Data Releases

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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