Weekly Technical Trade Levels on USD Majors, Commodities & Stocks
- Technical setups we’re tracking into weekly open amid massive risk sell-off
- Key levels for the US Dollar Majors, SPX500, Nasdaq, Gold, Silver and more!
- New to Gold Trading? Get started with this Free How to Trade Gold -Beginners Guide
USD Rips into Uptrend Resistance - SPX500, Nasdaq, Dow Threaten Larger Correction
The market sell-off is central focus heading into the start of the week with the technicals highlighting the threat of further losses in the days ahead. An in-depth look at the near-term price action suggests the US Dollar rally may be stretching towards extremes here and while the broader outlook remains weighted to the topside, we’re on the lookout for possible exhaustion. The economic docket is rather light until Friday with US Core Personal Consumption Expenditure (PCE) likely to fuel volatility as markets continue to reprice the inflationary outlook and its possible impact on Fed policy.
From a technical standpoint, the levels are clear and the battle-lines are drawn heading into the weekly open. In this webinar we take an in-depth look at the technical trade levels for US Dollar (DXY),US 10year yields (US10Y), Euro (EUR/USD), Canadian Dollar (USD/CAD), S&P 500 (SPX500), Nasdaq (NDX), Dow Jones Industrial Average (DJI), British Pound (GBP/USD), Gold (XAU/USD), Silver (XAG/USD), Australian Dollar (AUD/USD), AUD/NZD, Crude Oil (WTI) and GBP/JPY.
You can always find the latest Strategy Webinar on my YouTube playlist.
For a complete breakdown of Michael’s trading strategy, review his Foundations of Technical Analysis series on Building a Trading Strategy
Economic Calendar
Economic Calendar - latest economic development and upcoming event risk
---Written by Michael Boutros, Technical Strategist with DailyFX
Follow Michael on Twitter @MBForex
