Weekly Technical Trade Levels on USD Majors / Commodities
- Technical setups we’re tracking across the USD Majors / Commodities- NFP on Tap
- Updated trade levels on US Dollar, EUR/USD, GBP/USD, USD/CAD, Gold, SPX & more!
- New to Gold Trading? Get started with this Free How to Trade Gold -Beginners Guide
Dollar Reprieve Could be Short Lived – Gold to Challenge Key Range of Influence this Week
It’s the start of a new month and the late-ApriUS Dollar recovery is already encountering some heavy sellers into the open. Was last week’s recovery off key support simply a bear-market recovery or was that the start of something more? We’re looking for evidence heading into the monthly open with the DXY recovery vulnerable while below 91.57. The monthly open brings numerous ranges into focus with the USD Majors poised for some May breakouts. At the same time, the gold rally continues to build after rebounding off critical support last week with the advance approaching multi-week range highs today. 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, USD/JPY, USD/CHF, Copper, GBPAUD and GBP/CAD.
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
