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  • 🇳🇿 Building Permits MoM (JUN) Actual: 3.8% Previous: -2.4% https://www.dailyfx.com/economic-calendar#2021-07-29
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  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.87% 🇨🇦CAD: 0.63% 🇨🇭CHF: 0.43% 🇯🇵JPY: 0.39% 🇪🇺EUR: 0.37% 🇦🇺AUD: 0.27% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/vH1UWZP3Gt
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  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 2.33% Gold: 1.17% Oil - US Crude: -0.33% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/gkJwZQnj4N
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.22%, while traders in Wall Street are at opposite extremes with 75.65%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/NPtVj3FLsQ
Technical Levels: US Dollar, Sterling, Loonie, Gold, Bitcoin & Oil

Technical Levels: US Dollar, Sterling, Loonie, Gold, Bitcoin & Oil

Michael Boutros, Strategist

Weekly Technical Trade Levels on USD Majors / Commodities

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US Dollar Bulls Vulnerable into FOMC- Gold Plunges into Key Support– Oil Breakout Underway

The US Dollar has mounted a counter-offensive that takes the index back towards the monthly range highs. All eyes are on the Fed this week as inflationary concerns continue to take root – the focus will be on the accompanying quarterly projections on growth, inflation and employment. The USD Majors are poised heading into the release with range-bound conditions and low-volatility setting the stage for a larger breakout later this month. Stay nimble into the Fed rate decision & subsequent presser with Chairman Powell - expect volatility. In this webinar we take an in-depth look at the key technical trade levels for US Dollar Index,US Treasuries Yields (US10Y), VIX,EUR/USD, GBP/USD, USD/CAD, NZD/USD, AUD/USD, Bitcoin (BTC/USD), Gold, USD/JPY, Crude Oil (WTI) & SPX. Join me on Wednesday morning for a Mid-Week Market Update to review these setups heading into the FOMC releases.

For a complete breakdown of Michael’s trading strategy, review his Foundations of Technical Analysis series on Building a Trading Strategy

Economic Calendar

Economic Calendar - Key Data Releases - Weekly Event Risk - EUR, USD, AUD, NZD, GBP, JPY

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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