Weekly Technical Trade Levels on USD Majors / Commodities
- Technical setups we’re tracking across the USD Majors / Commodities
- Updated trade levels on US Dollar, USD/CAD, GBP/USD, Oil, Gold, Bitcoin & more!
- New to Gold Trading? Get started with this Free How to Trade Gold -Beginners Guide
US Dollar Majors Testing Make-or-Break Levels - Gold Defending Critical Support Pivot
It’s the last week of February trade and the US Dollar breakdown is at trend extremes as the index drops into medium-term uptrend support. The USD Majors are all moving to the beat of their own drum with breakouts in Sterling, Aussie, and Kiwi masked by range conditions in Euro, Loonie and Yen. Despite divergences, the levels remain remarkably clean and the technical stances are set heading into the close of the month. Likewise, the Gold breakdown has taken a reprieve after rebounding off major confluence support near the November lows- we’re looking for inflection this week. In this webinar we take an in-depth look at the technical levels for the US Dollar Index, EUR/USD, USD/CAD, GBP/USD, Gold, USD/JPY, AUD/USD, NZD/USD, AUD/CAD, Crude Oil (WTI), Bitcoin (BTC/USD) and USD/MXN.
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
