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Technical Levels for US Dollar, EUR/USD, GBP/USD, USD/CAD, Gold & SPX

Technical Levels for US Dollar, EUR/USD, GBP/USD, USD/CAD, Gold & SPX

Michael Boutros, Strategist

Weekly Technical Trade Levels on USD Majors / Commodities

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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

Key Event Risk This Week - Economic Calendar - USD, CAD, NZD, GBP, AUD

Economic Calendar - latest economic development and upcoming event risk

---Written by Michael Boutros, Currency 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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