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

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

Michael Boutros, Strategist

Weekly Technical Trade Levels on USD Majors / Commodities

USD August Range Break Imminent – Gold Breakout Marks First Signs of Exhaustion

The US Dollar is afloat just above downtrend support with the DXY carving a well-defined monthly opening-range last week. Similarly, the USD Majors have stretched into (or are within striking distance of) major long-term trend extremes and we’re looking for a reaction here this week. The gold breakout has marked fresh record highs with and outside-day reversal post-NFP on Friday threatening the immediate advance. In this webinar, we review the updated technical trade setups on DXY, EUR/USD,USD/CAD, USD/JPY, Gold, AUD/USD, NZD/USD, SPX (SPX500), GBP/USD, USD/MXN, USD/CHF, EUR/GBP & USD/CNH.

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For a complete breakdown of Michael’s trading strategy, review his Foundations of Technical Analysis series on Building a Trading Strategy

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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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