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US Dollar Technical Setups and Levels on Gold, Oil, SPX & Bitcoin

US Dollar Technical Setups and Levels on Gold, Oil, SPX & Bitcoin

Michael Boutros,
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Weekly Technical Trade Levels on USD Majors, Commodities & Crypto


USD Recovery Could be Short-Lived – Sterling, Loonie Breakouts Pending Ahead of Key Inflation Data

In last week’s Strategy Webinar we noted that our focus was on identifying a near-term low in the US Dollar Index. We got it! DXY found support into the January low-day close and the focus now turns to possible exhaustion as the recovery stretches towards confluent resistance near 96.50/56- we’re looking for a reaction there for guidance IF reached. A look at the commodity bloc also keeps the focus on a possible breakout in Gold prices just as crude oil stretches into uptrend resistance. The levels are well-defined into the weekly open with key inflation prints on tap in the UK and Canada.

In this webinar we take an in-depth look at the technical trade levels for US Dollar Index (DXY),US10Y, EUR/USD, Gold (XAU/USD), USD/CAD, S&P 500, Crude Oil (WTI), Nasdaq (NDX), GBP/USD, Bitcoin (BTC/USD), Ethereum (ETH/USD), AUD/USD and USD/JPY.

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.