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  • RBA's Debelle - Economic recovery significantly exceeded the most optimistic expectations - But that is not the case for wages and inflation - Will not raise rates until actual inflation is sustainably within target band - Do not expect these conditions to be met until 2024
  • 💶 Retail Sales YoY (MAR) Actual: 12% Expected: 9.6% Previous: -1.5% https://www.dailyfx.com/economic-calendar#2021-05-06
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  • 🇬🇧 Markit/CIPS UK Services PMI Final (APR) Actual: 61.0 Expected: 60.1 Previous: 56.3 https://www.dailyfx.com/economic-calendar#2021-05-06
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  • Heads Up:🇬🇧 Markit/CIPS UK Services PMI Final (APR) due at 08:30 GMT (15min) Expected: 60.1 Previous: 56.3 https://www.dailyfx.com/economic-calendar#2021-05-06
  • Heads Up:🇬🇧 Markit/CIPS Composite PMI Final (APR) due at 08:30 GMT (15min) Expected: 60 Previous: 56.4 https://www.dailyfx.com/economic-calendar#2021-05-06
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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.

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 Event Risk - Weekly

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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