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,Gold, EUR/USD, AUD/USD, USD/MXN, SPX and more!
- New to Gold Trading? Get started with this Free How to Trade Gold -Beginners Guide
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 - latest economic development and upcoming event risk
---Written by Michael Boutros, Currency Strategist with DailyFX
Follow Michael on Twitter @MBForex
