Technical Levels: DXY, EUR/USD, USD/CAD, AUD/USD, Gold & Bitcoin
Weekly Technical Trade Levels on USD Majors / Commodities
- Technical setups we’re tracking across the USD Majors / Commodities heading into weekly open
- Updated trade levels on US Dollar, Euro, Loonie, Aussie, Gold, Bitcoin and more!
- New to Gold Trading? Get started with this Free How to Trade Gold -Beginners Guide
US Dollar Pullback Remains in Focus- Gold, Silver Look to Validate a Low- Bitcoin Breakout Vulnerable
The US Dollar Index marked an outside-day reversal off the July highs last week with DXY pulling back nearly 0.8% into the close. The index remains vulnerable but we’re on the lookout for possible inflection just lower into Fibonacci support IF reached. Growing geopolitical concerns regarding the fall of Afghanistan have had a limited impact on market sentiment into the open, but a decline in the 10yr Treasury Yield does threaten the broader equity advance here. Key rebounds last week in Gold and Silver have us looking to verify that a near-term low may be in place. For Bitcoin, we remain neutral here with the rally still looking vulnerable despite a breach of long-term resistance– battle lines are drawn. In this webinar we take an in-depth look at the key technical trade levels for US Dollar Index,EUR/USD, USD/CAD, USD/JPY, Gold, Silver, AUD/USD, NZD/USD, US10Y, GBP/USD, Bitcoin and SPX.
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.