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Mid-Week Technical Outlook: USD Majors, Crypto, Gold, Oil- NFP Preview

Mid-Week Technical Outlook: USD Majors, Crypto, Gold, Oil- NFP Preview

Michael Boutros, Strategist

Weekly Technical Update on USD Majors, Commodities & Bitcoin

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US Dollar Losses Steepen ahead of NFP – Commodities, Cryptocurrencies Poised at Resistance

In Monday’s Weekly Strategy Webinar we noted that our basic premise into the start of the week was to look for possible downside exhaustion in the US Dollar after last week’s turn in DXY from uptrend resistance. The greenback is broadly trading lower against most of its major counterparts heading into major event risk on Friday with US Non-Farm Payrolls on tap. Numerous weekly opening-ranges remain in play heading into Thursday and the focus is on pending near-term breakouts for guidance. In this webinar we take an in-depth look at the key technical trade levels for US Dollar Index, EUR/USD, US10Y, USD/CAD, AUD/USD, GBP/USD, Gold, Silver, Bitcoin,Ethereum (ETH/USD) ,Crude Oil, SPX, USD/JPY and NZD/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 - Key Data Releases - Weekly Event Risk

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.

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