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, USD/JPY, Gold, Bitcoin & more!
- New to Gold Trading? Get started with this Free How to Trade Gold -Beginners Guide
US Dollar Breakout Losing Steam- Gold Pivots off Key Support- Bitcoin Breakout Underway
Numerous outside-day reversals on Friday are threatening the recent US Dollar rally with the USD Majors approaching trend extremes early in the week. The move keeps price within the confines of the recent advance and the focus is on support just lower in the days ahead. Meanwhile, the gold breakdown reversed off key support last week with the recovery gathering pace into the weekly open. We’re on the lookout for possible topside exhaustion on a stretch towards monthly open resistance IF reached. In this webinar we take an in-depth look at the technical levels for the US Dollar Index, EUR/USD, USD/CAD, USD/JPY, Gold, Crude Oil (WTI), Bitcoin (BTC/USD), USD/CHF, GBP/USD, NZD/USD and SPX500.
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
