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Mid-Week Technical Outlook: USD Majors, Gold & Bitcoin- FOMC Levels

Mid-Week Technical Outlook: USD Majors, Gold & Bitcoin- FOMC Levels

Michael Boutros, Strategist

Weekly Technical Update on USD Majors, Commodities


US Dollar Battle Lines Drawn into FOMC – Gold, Bitcoin Breakouts Imminent

In Monday’s Weekly Strategy Webinar we discussed the technical stance of the US Dollar with the DXY responding to a critical support confluence around the objective yearly open. The rally may vulnerable heading into today’s FOMC interest rate decision as the index carves a well-defined weekly opening-range just below resistance- we’re on breakout watch. An outside-day reversal in the SPX also casts a shadow on the recent spike to fresh record highs with both Gold and Bitcoin coiled near critical technical levels. These are the setups we’re tracking into today’s Fed rate decision / close of the week. In this webinar we take an in-depth look at the technical levels for the 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 and Copper.

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 - FOMC - USD JPY AUD NZD

Economic Calendar - latest economic development and upcoming event risk

---Written by Michael Boutros, Technical Strategist with DailyFX

Follow Michael on Twitter @MBForex

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.