Strategy Webinar: EUR/USD, USD/CAD, Gold, S&P 500 & Oil Technicals
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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, Silver, Crude Oil and more!
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USD Surges Into Uptrend Resistance as Gold Tests Critical Support- Equities Recovery Levels in Focus
The US Dollar has been on a tear with the DXY up more than 3.26% since the start of the month. While the broader outlook remains constructive, the index is now approaching confluent uptrend resistance and our focus is on possible inflection this week around the 2001 low at 108.19. At the same time, Gold prices are test critical multi-year uptrend support at 1729 - the last ditch effort for the bulls. The equity markets have been ranging within well-defined technical parameters and while momentum has been lacking, the levels are clear heading into the open of the week.
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), VIX, Gold (XAU/USD), S&P 500 (SPX500), Nasdaq (NDX), Dow Jones Industrial Average (DJI), Silver (XAG/USD), Crude Oil (WTI), Japanese Yen (USD/JPY) with notes on AUD/JPY and EUR/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 - latest economic development and upcoming event risk
---Written by Michael Boutros, Technical Strategist with DailyFX
Follow Michael on Twitter @MBForex
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.