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, USD/CAD, Gold, Bitcoin & more!
- New to Gold Trading? Get started with this Free How to Trade Gold -Beginners Guide
US Dollar Threatens Major Price Collapse into December Open– Gold Bears Risk Exhaustion
The US Dollar Index broke below critical multi-year uptrend support last week and while the collapse threatens a much larger price breakdown, the timing of the sell-off into the close of the month leaves the immediate decline vulnerable into the December open. We’re looking to validate a major price inflection on numerous USD setups early in the month. Meanwhile, gold prices have plummeted more than 10% off the monthly highs and we’re on the lookout for downside exhaustion this week. An in-depth look at the technical levels for the US Dollar Index, EUR/USD, Gold, USD/JPY, USD/CAD, AUD/USD, NZD/USD, GBP/USD, Bitcoin (BTC/USD), SPX500 and USD/CHF.
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
