Weekly Technical Trade Levels on USD Majors / Commodities
- Technical setups we’re tracking across the USD Majors / Commodities this week
- Updated trade levels on US Dollar, EUR/USD, GBP/USD, AUD/USD, Gold, SPX and more!
- New to Gold Trading? Get started with this Free How to Trade Gold -Beginners Guide
Dollar Rally Faces First Major Test – Gold Remains at Risk for Larger Correction
An in-depth review of the USD majors into the start of the week. We’re heading into the close of the month / quarter on Wednesday with US Non-Farm Payrolls (NFP) on tap Friday. The DXY rally has now extended into the first major resistance zone and we’re looking for inflection into the start of October trade. Meanwhile, a rebound off downtrend support in gold could see some further recovery but leaves the broader risk weighted to the downside while below 1920. A look at the technical levels for the Dollar Index, EUR/USD, USD/CAD, AUD/USD, NZD/USD, USD/MXN, USD/JPY, Gold, SPX & 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
