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Dollar, EUR/USD, USD/CAD, Gold & Bitcoin Technical Trade Levels

Dollar, EUR/USD, USD/CAD, Gold & Bitcoin Technical Trade Levels

Michael Boutros, Strategist

Weekly Technical Trade Levels on USD Majors / Commodities

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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 - EUR USD GBP AUD CAD Weekly Event Risk

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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