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!
- New to Gold Trading? Get started with this Free How to Trade Gold -Beginners Guide
USD Exhaustion Underway - Equities Range-Breakout Imminent
The US Dollar rallied and failed into uptrend resistance last week with the DXY closing below the 2001 swing low at 108.09. While the broader outlook remains constructive, the threat of larger correction rises here and a larger pullback may offer more favorable opportunities closer to trend support in the days ahead. Meanwhile, all three major equity indices have preserved the July opening-range and the focus is on a breakout in the days ahead with the threat for a larger recovery within the broader downtrend while above the monthly opens.
In this webinar we take an in-depth look at the technical trade levels for US Dollar (DXY), Euro (EUR/USD), Canadian Dollar (USD/CAD), S&P 500 (SPX500), Nasdaq (NDX), Dow Jones Industrial Average (DJI), Gold (XAU/USD), Silver (XAG/USD), Crude Oil (WTI), Bitcoin, Australian Dollar (AUD/USD) and notes on AUD/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
