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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


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

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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.