Weekly Technical Trade Levels on USD Majors / Commodities
- Technical setups we’re tracking across the USD Majors / Commodities
- Updated trade levels on US Dollar, EUR/USD, GBP/USD, AUD/USD, Gold, Oil & more!
- New to Gold Trading? Get started with this Free How to Trade Gold -Beginners Guide
Vaccine Headlines Buoy Market Sentiment – Gold Price Reversal Holding September Low
News of another Covid-19 vaccine with an efficacy rate of 95% has fueled another market rally with the SPX pressing back towards the monthly / record highs. The move has not manifested as much in FX with the US Dollar Index (DXY) still holding above critical multi-year trend support. Markets are poised with numerous USD Majors trading within well-defined formations at key levels and we’re looking for a reaction early in the week. A massive reversal in gold last week keeps the bulls on notice as price holds just above the September lows into the open. An in-depth look at the technical levels for the US Dollar Index, EUR/USD, GBP/USD, AUD/USD, Gold, BTC/USD, USD/CAD, Crude Oil (WTI), USD/JPY and SPX.
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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