Weekly Technical Trade Levels on USD Majors / Commodities
- Technical setups we’re tracking across the USD Majors / Commodities
- Updated trade levels on Gold, Silver, Dollar, AUD/USD, USD/CAD and Bitcoin & more!
- New to Gold Trading? Get started with this Free How to Trade Gold -Beginners Guide
Key Inflection Zones in Play Across USD Majors – Gold, Silver Probing Support
The US Dollar breakout has been phenomenal with reversals in numerous USD Majors coming into key technical levels into the start of the week. While the broader focus remains constructive for the greenback, the immediate advance may be vulnerable here as price stretches into near-term trend extremes. The gold price breakdown is testing the first major support confluence and we’re looking for inflection early in the week for guidance – likewise, the silver pullback is testing near-term Fibonacci support and the focus is on a reaction near 24.88. The technical stage is set and the levels are clear heading into the weekly open.
Keep in mind there’s a good amount of event risk this week with interest rate decisions on tap from the Bank of Canada (BOC) and European Central Bank (ECB). In this webinar we take an in-depth look at the technical levels for the US Dollar Index, EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/CAD, Gold, Bitcoin (BTC/USD), Ethereum (ETH/USD), USD/JPY, USD/CHF and SPX.
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
