Technical Levels: Dollar, Loonie, Aussie, Gold, Silver, Oil & Bitcoin
Weekly Technical Trade Levels on USD Majors / Commodities
- Technical setups we’re tracking across the USD Majors / Commodities heading into FOMC
- Updated trade levels on US Dollar,USD/CAD, AUD/USD, Gold, Oil, Silver, Bitcoin and more!
- New to Gold Trading? Get started with this Free How to Trade Gold -Beginners Guide
US Dollar Bulls at Risk into FOMC- Gold at Key Support, Bitcoin Resurgence in Focus
It’s FOMC week and all eyes will be on the Federal Reserve interest rate decision on Wednesday as rising inflationary concerns continue to plague markets. While the US Dollar technical outlook remains constructive, the immediate advance may be vulnerable in the days ahead as the DXY continues to press uptrend resistance. Similar stances across the Majors remains in focus as we head into the release. At the same time, Gold starts off the week just above multi-month trend support and we’re looking for support ahead of last weeks lows IF XAU/USD is still indeed heading higher. It’s a big week for crypto traders as well with last week’s Bitcoin reversal threatening a test of downtrend resistance- looking for a reaction this week. In this webinar we take an in-depth look at the key technical trade levels for US Dollar Index,EUR/USD, USD/CAD, US10Y, USD/JPY, AUD/USD, Gold (XAU/USD), Crude Oil (WTI) 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 - 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.