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, USD/MXN, AUD/USD, Gold, SPX & more!
- New to Gold Trading? Get started with this Free How to Trade Gold -Beginners Guide
Dollar Plummets into the Weekly Open – Gold Recovery Vulnerable into Resistance
The US Dollar is under heavy selling pressure early in the week with the DXY down more than 0.5% into the open of US trade. The decline takes the index into near-term uptrend support and we’re looking for a pivot early in the week for guidance. Meanwhile, the recent gold price recovery is now testing Fibonacci resistance and put the multi-day rally at risk early in the session. An in-depth look at the technical levels for the Dollar Index, EUR/USD, USD/CAD, USD/MXN, Gold, NZD/USD, AUD/USD, USD/CHF, GBP/USD, GBP/CAD, GBP/JPY, SPX and EUR/JPY.
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
