Weekly Technical Trade Levels on USD Majors, Commodities & Stocks
- Technical setups we’re tracking into the weekly open
- Key levels for the US Dollar Majors, SPX500, Nasdaq, Gold, Bitcoin and more!
- New to Gold Trading? Get started with this Free How to Trade Gold -Beginners Guide
Markets Respond to Trend Extremes – The Exhaustion Trade Underway
In my last Weekly Strategy Webinar we noted that the stock reprieve could be short lived - our immediate focus on the SPX500, “recovery within the context of the broader downtrend and we’re looking for possible topside exhaustion in the days ahead.” An exhaustion high registered just two-days later with an outside-day reversal candle taking the index into longer-term Fibonacci support on Friday. Our focus now shifts to this pullback in the US Dollar / rebound in the EUR/USD with the S&P 500, Nasdaq & Dow Jones all responding to key support on Friday. 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), Euro (EUR/USD), S&P 500 (SPX500), Nasdaq (NDX), Dow Jones Industrial Average (DJI), Canadian Dollar USD/CAD, New Zealand Dollar (NZD/USD), Gold (XAU/USD), Silver (XAG/USD), British Pound (GBP/USD), Bitcoin, Apple (AAPL) and Tesla (TSLA).
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
