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Mid-Week Technical Outlook: USD Majors, Gold & Oil– July / NFP Levels

Mid-Week Technical Outlook: USD Majors, Gold & Oil– July / NFP Levels

Michael Boutros, Strategist

Weekly Technical Update on USD Majors, Commodities


US Dollar Recovery Eyes Critical Resistance into July Open – Gold, Bitcoin Poised for Divergent Breakouts

In Monday’s Weekly Strategy Webinar we discussed viable technical setups we’ve been tracking in the USD Majors with the US Dollar Index (DXY) targeting major trend resistance just higher. We’re heading into the close of the month / quarter with US Non-Farm Payrolls (NFP) on tap ahead of an extended holiday break. A good time to stay nimble and reduce position size. These are the setups we’re tracking into close of the week- in this webinar we take an in-depth look at the technical levels for the for US Dollar Index,EUR/USD, GBP/USD, USD/CAD, AUD/USD, AUD/JPY, NZD/USD, Gold, 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

Key Event Risk This Week

Key Event Risk this Week - Key Data Releases - Economic Calendar - Non-Farm Payroll (NFP)

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.