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  • Earnings will remain a key theme ahead with AMZN and AAPL due to follow GOOG's and MSFT's failure to push a Nasdaq 100 to record highs while the ECB will follow in the BOC's and Brazil hawkish policy mix. That said, I'm watching the Dollar most closely: https://www.dailyfx.com/forex/video/daily_news_report/2021/10/28/Nasdaq-100-Fails-to-Break-Despite-Google-EURUSD-Will-Struggle-for-Break-Despite-Heavy-Event-Risk.html https://t.co/dyXrxok07K
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  • US crude is down another 2.2 percent in early Asia trade. We are on pace to break below the 20-day moving average (and 20-day support) for the first time in 43 trading days. There those the default risk appetite run... https://t.co/f4Bg8t1e0i
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  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Gold: 0.20% Silver: 0.08% Oil - US Crude: -2.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/dbzLm7PqBe
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  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.20% 🇨🇭CHF: 0.06% 🇪🇺EUR: 0.05% 🇬🇧GBP: -0.02% 🇨🇦CAD: -0.06% 🇦🇺AUD: -0.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Y9B3C6uhBW
Post-Election Trade Levels: Dollar, EUR/USD, USD/MXN, AUD/USD & Gold

Post-Election Trade Levels: Dollar, EUR/USD, USD/MXN, AUD/USD & Gold

Michael Boutros, Strategist

Weekly Technical Trade Levels on USD Majors / Commodities

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Post-Election USD Sell-off Plummets to Critical Support- Gold False Breakout Risks Deep Losses

News of a Covid-19 vaccine boasting more than 90% efficacy fueled a massive surge in risk markets into the start of the week with the SPX500 marking fresh record highs on Monday. The rally is stretching into a precarious zone into the open however with numerous outside-weekly reversals in the USD Majors last week suggesting the recent advances may be vulnerable. The Dollar Index (DXY) is now back at multi-year uptrend support and the immediate focus is on a reaction here this week. An in-depth look at the technical levels for the Dollar Index, EUR/USD, GBP/USD, USD/CAD, USD/MXN, AUD/USD, NZD/USD, Gold, SPX, NZD/JPY, USD/CHF and USD/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

Key Data Releases - Economic Calendar - Weekly Event Risk - USD, EUR, AUD, GBP, NZD, JPY, MXN

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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