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Technical Levels: DXY, EUR/USD, USD/CAD, AUD/USD, Gold & Bitcoin

Technical Levels: DXY, EUR/USD, USD/CAD, AUD/USD, Gold & Bitcoin

Michael Boutros, Strategist

Weekly Technical Trade Levels on USD Majors / Commodities

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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.

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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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---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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