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  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here: https://t.co/t9FlspUVZz https://t.co/FFMy5O9YoY
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Dollar, GBP/USD, AUD/USD, USD/CAD & Gold Technical Trade Levels

Dollar, GBP/USD, AUD/USD, USD/CAD & Gold Technical Trade Levels

Michael Boutros, Strategist

Weekly Technical Trade Levels on USD Majors / Commodities

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US Dollar Sell-off Stretched into Yearly Open– Gold / Bitcoin Attempting Major Breakouts

It’s the start of a new year with lots of event risk on the horizon and the focus is on the technical positioning of the US Dollar Majors heading into the open. The steady theme of USD weakness may be vulnerable early in the month with numerous crosses approach key technical thresholds on building momentum divergence. Breakouts in Gold & Bitcoin are also in focus as we open the first full week of 2021 trade. An in-depth look at the technical levels for the US Dollar Index, EUR/USD, GBP/USD, USD/CAD, AUD/USD, NZD/USD, Gold, SPX500, USD/CHF, Bitcoin (BTC/USD) 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

Econoic Calendar - Key Data Releases - NFP, Canada Employment

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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