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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


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

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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.