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  • 🇳🇱 Inflation Rate YoY (JUL) Actual: 1.4% Expected: 1.6% Previous: 2% https://www.dailyfx.com/economic-calendar#2021-08-05
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.96%, while traders in France 40 are at opposite extremes with 78.94%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ckOcIy4HK4
  • The US Dollar could lose some ground against ASEAN currencies such as the Singapore Dollar and Thai Baht amid slowing Emerging Asia Covid case growth. Softer US NFPs may also bode well.Get your market update from @ddubrovskyFX here:https://t.co/jnJ80hQR4P https://t.co/x37yml0Cow
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  • The US Dollar seems to be losing its momentum against ASEAN currencies as of late. Could this be another top in USD/SGD, USD/THB, USD/PHP and USD/IDR? Find out from @ddubrovskyFX here:https://t.co/rVBKBuhhAb https://t.co/xPtI6toGbx
Technical Levels: US Dollar, Euro, Loonie, Kiwi, Gold, Oil & Bitcoin

Technical Levels: US Dollar, Euro, Loonie, Kiwi, Gold, Oil & Bitcoin

Michael Boutros, Strategist

Weekly Technical Trade Levels on USD Majors / Commodities

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US Dollar Breakout Vulnerable into the Weekly Open- Yields, Bitcoin Plunge Signal Warning

The US Dollar Index (DXY) extended through a critical resistance zone we’ve been tracking for months now and while a breach of the July opening-range does shift the focus higher, the advance remains at risk while below uptrend resistance at the yearly high-week close at 93.01. Similar technical stances have been identified across the USD Majors and the focus is on possible exhaustion early in the week. A correction in gold took out our final support objective today and the focus is on a this near-term recovery in price. Yields on the US10Y broke key support today with the SPX accelerating lower after turning from uptrend resistance – red alerts are sounding across the board. In this webinar we take an in-depth look at the key technical trade levels for US Dollar Index,EUR/USD, GBP/USD, NZD/USD, USD/CAD, Crude Oil (WTI), Gold, AUD/USD, US10Y, SPX, and Bitcoin (BTC/USD).

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 - EUR USD Weekly Event Risk

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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