Weekly Technical Trade Levels on USD Majors, Commodities & Stocks
- Technical setups we’re tracking into weekly / monthly open amid continued risk sell-off
- Key levels for the US Dollar Majors, SPX500, Nasdaq, Gold, Silver, Oil and more!
- New to Gold Trading? Get started with this Free How to Trade Gold -Beginners Guide
US Dollar Strength in Question into Weekly / Monthly Open- FOMC, NFPs on Tap
It’s the start of a new week / month with major event risk on tap. Th central focus heading into the open is on the recent equity market sell-off with severe technical damage already inflicted on the S&P 500 (SPX500) and Nasdaq (NDX) uptrends. The threat remains for a deeper correction with the Dow Jones lagging the declines. On the FX front, markets have continued to pile on expectations for higher rates and while the broader focus remains constructive, the immediate rally may be vulnerable in the days ahead and we’ll be looking for the price-action around key events this week for guidance- most notable, the FOMC interest rate decision and US Non-Farm payrolls into the close of the week. Buckle-up!
Technicals are in stellar-form heading into the start of the week / month with numerous setups stretched into trend extremes at the open. In this webinar we take an in-depth look at the technical trade levels for US Dollar (DXY), Euro (EUR/USD), British Pound (GBP/USD), Canadian Dollar (USD/CAD), Gold (XAU/USD), Silver (XAG/USD), S&P 500 (SPX500), Nasdaq (NDX), Dow Jones Industrial Average (DJI),Crude Oil (WTI) and the Australian Dollar (AUD/USD).
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
