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, AUD/USD, Gold, SPX & more!
- New to Gold Trading? Get started with this Free How to Trade Gold -Beginners Guide
Moment of Truth as US Dollar Threatens Breakout- SPX Recovery Vulnerable
The greenback is more than 1.9% off the lows with the Dollar Index (DXY) approaching initial resistance objectives early in the week. Markets have been roiled by headlines and extreme swings in sentiment and while the attention shifts to these developments, the underlying price action on the USD Majors and commodities are poised to mark some great moves in the days ahead. Today’s recovery in the SPX comes off the back of a rebound off a critical support zone we’ve been tracking and while further upside may be likely, the advance remains vulnerable while below 3792. In this webinar we take an in-depth look at the technical levels for the US Dollar Index, EUR/USD, GBP/USD, USD/CAD, AUD/USD, NZD/USD, USD/JPY, Gold, SPX, Silver, USD/CHF and GBP/CAD.
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
