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Strategy Webinar: EUR/USD, USD/CAD, S&P 500, Gold, Silver & Oil Outlook

Strategy Webinar: EUR/USD, USD/CAD, S&P 500, Gold, Silver & Oil Outlook

Michael Boutros,
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Weekly Technical Trade Levels on USD Majors, Commodities & Stocks


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

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---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.