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, Gold, Crude Oil, Bitcoin and more!
- New to Gold Trading? Get started with this Free How to Trade Gold -Beginners Guide
US Dollar Drives back into 1999 Highs – Equities Collapse Looks Lower
It’s FOMC week and the markets are in free-fall ahead of the rated decision with all three major equity indices trading deep in the red on Monday. The stock plunge has been well defined and the levels have continued to play out with precision on this breakdown- upcoming support targets are eyed just beyond the yearly lows and we’re looking for possible downside exhaustion this week. For the US Dollar, the index is trading just below resistance at the 1999 highs a (104.88) and again here we’re on the lookout for possible price inflection with a close above needed to keep the immediate advance viable.
All eyes on the Federal Reserve interest rate decision on Wednesday with the central bank widely expected to hike 50bps – markets will be focused on the accompanying revised economic projections as the pertain to growth, employment and inflation. In this webinar we take an in-depth look at the technical trade levels for US Dollar (DXY), Euro (EUR/USD), Japanese Yen (USD/JPY), US 10year Yields (US10Y), Canadian Dollar (USD/CAD), Australian Dollar (AUD/USD), New Zealand Dollar (NZD/USD), Gold (XAU/USD), Silver (XAG/USD), Crude Oil (WTI), S&P 500 (SPX500), Nasdaq (NDX), Dow Jones Industrial Average (DJI), British Pound (GBP/USD), Bitcoin (BTCUSD) and Ethereum (ETH/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
