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Mid-Week Market Check Up- Technical Outlook for USD Majors & Gold

Mid-Week Market Check Up- Technical Outlook for USD Majors & Gold

Michael Boutros, Strategist

Weekly Technical Update on USD Majors / Commodities

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US Dollar Breakout Risks Exhaustion Into April Open - Gold at Key Pivot Zone

In Monday’s Weekly Strategy Webinar we noted that the US Dollar breakout may be vulnerable heading into a major, “ trendline confluence near ~93.20s- area of interest for possible topside exhaustion IF reached.” The index extended into this zone today with DXY briefly registering a high at 93.43 before pulling back – the risk remains for exhaustion not only here, but across numerous USD Majors heading into the close of the month / quarter. In this webinar we take an in-depth look at the technical levels for the US Dollar Index, EUR/USD, Gold, USD/JPY, NZD/USD, AUD/USD,USD/CAD, USD/CHF and GBP/USD.

For a complete breakdown of Michael’s trading strategy, review his Foundations of Technical Analysis series on Building a Trading Strategy

---Written by Michael Boutros, Technical 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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