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

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

Michael Boutros, Strategist

Weekly Technical Trade Levels on USD Majors / Commodities


US Dollar Soars Post-FOMC– Gold, Bitcoin Plunge into Critical Support– Oil Breakout Fizzles

The Fed fueled a massive USD breakout last week with DXY rallying more than 3% off the monthly lows. The advance puts the USD Majors at critical levels near trend extremes and we’re looking for guidance early in the week. From at trading standpoint, we are looking to asses US Dollar weakens on a pullback for possible re-entries. At the same time, both gold and Bitcoin have dropped into key support zones and we’re looking for a reaction here in the days ahead with immediate decline vulnerable here into the start of the week. 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, AUD/USD, NZD/USD, Gold, Copper, SPX, Crude Oil (WTI), Bitcoin (BTC/USD) & USD/JPY.

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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---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.