Weekly Technical Trade Levels on USD Majors / Commodities
- Technical setups we’re tracking across the USD Majors / Commodities- FOMC on tap
- Updated trade levels on US Dollar, EUR/USD, GBP/USD, AUD/USD, Gold, SPX & more!
- New to Gold Trading? Get started with this Free How to Trade Gold -Beginners Guide
Dollar at Key Fibonacci Support Ahead of FOMC - Gold Recovery Faces Trend Resistance
The US Dollar has been in free-fall with DXY down nearly 3% off the monthly / yearly high heading into the FOMC interest rate decision this week. An update on US Treasury yields and the VIX suggests markets are poised for a “move” in the days ahead as the SPX stays on a steady march to fresh record highs. Meanwhile, the gold price recovery is now trading just shy of a critical resistance zone into 1804- we’re on the lookout for possible price inflection in the days ahead into this threshold. In this webinar we take an in-depth look at the key technical levels for the US Dollar Index, EUR/USD, GBP/USD, USD/CAD, AUD/USD, Gold, Crude Oil (WTI), SPX, USD/JPY, and GBP/AUD.
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
