Weekly Technical Trade Levels on USD Majors / Commodities
- Technical setups we’re tracking across the USD Majors / Commodities
- Updated trade levels on US Dollar, USD/CAD, Gold, Bitcoin, Oil, SPX500 & more!
- New to Gold Trading? Get started with this Free How to Trade Gold -Beginners Guide
US Dollar Straddles 2021 Yearly Open - Gold Bulls Struggle at Resistance as Bitcoin Bounces
The US Dollar sell-off has stalled around the objective yearly open with the index contracting just above the February swing lows on building momentum divergence. In fact, there are numerous divergent signals emerging across the majors with prices coiling within the May opening ranges for Aussie, Kiwi and the Japanese Yen. This week will be especially important for Gold prices as the rally continues to contract within the May 19th doji range – we’re on breakout watch for guidance as XAU/USD struggles into uptrend resistance. In this webinar we take an in-depth look at the key technical trade levels for US Treasuries Yields (US10Y), US Dollar Index, EUR/USD, GBP/USD, USD/CAD, Gold, Oil (WTI), SPX, Bitcoin (BTC/USD), AUD/USD, NZD/USD, USD/JPY, and USD/CHF.
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
