Mid-Week Technical Outlook: USD Majors, Bitcoin, Gold & Crude Oil
Weekly Technical Update on USD Majors, Commodities & Bitcoin
- Technical setups we’re tracking across the USD Majors / Commodities / Bitcoin
- US Dollar rally vulnerable – numerous setups testing critical trend extremes
- New to Gold Trading? Get started with this Free How to Trade Gold -Beginners Guide
US Dollar Rally Struggles into Uptrend Resistance– Bitcoin, Gold Poised for Larger Recovery?
In Monday’s Weekly Strategy Webinar our basic premise on the US Dollar rally was , “hold them if you got them, but get defensive.” The greenback marched higher into Wednesday before exhausting and the focus is on this pullback from uptrend resistance. Sterling, Aussie and Kiwi are all pressing key support zones today and further highlight the risk for near-term exhaustion on this recent move. In this webinar we take an in-depth look at the technical trade levels for the for the US Dollar Index, EUR/USD, GBP/USD, NZD/USD, Crude Oil (WTI), Gold, USD/CAD, USD/JPY 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
Key Event Risk This Week
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.