Weekly Technical Trade Levels on USD Majors / Commodities
- Technical setups we’re tracking across the USD Majors / Commodities
- Updated trade levels on US Dollar, Euro, Sterling, Loonie, Gold, Bitcoin and more!
- New to Gold Trading? Get started with this Free How to Trade Gold -Beginners Guide
US Dollar Flirts with Critical Support - Gold Recovery Vulnerable into Monthly Open Resistance
The US Dollar takes center stage this week as we head into critical inflation data with the DXY continuing to hold just above objective yearly-open support at 89.93. Friday’s reversal challenges the recent USD strength and the immediate focus is on possible downside exhaustion ahead of the monthly opening-range lows / February low at 89.38. Similar setups are in play across the US Dollar Majors this week and we’ll be closely eyeing key central bank interest rate decisions from the BoC and the ECB as USD/CAD and EUR/USD continue to contract into critical technical levels. 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, NZD/USD, Gold, USD/JPY, Bitcoin (BTC/USD),AUD/USD 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
