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

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

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