Strategy Webinar: USD Majors, Stocks, Gold, Oil Technical Outlook
Weekly Technical Trade Levels on USD Majors, Commodities & Stocks
- Technical setups we’re tracking into the weekly / monthly open
- Key levels for the US Dollar Majors, SPX500, Nasdaq, Dow, Gold, Crude Oil and more!
- New to Gold Trading? Get started with this Free How to Trade Gold -Beginners Guide
USD Exhaustion Trade Searches Support- S&P 500, Nasdaq, Dow Breakout Levels
In last week’s Strategy Webinar we discussed the US Dollar exhaustion trade as DXY reversed off downtrend resistance – the focus heading into the start of the week / month is on possible downside exhaustion for the correction. Numerous USD Majors are facing similar technical setups into the August open and the levels are well-defined as we look to key event risk this week from the RBA, BoE, Canada employment and US Non-Farm Payrolls (NFP). A close look at the equity markets highlights the threat for continued strength in all three major indices on the back of this recent breakout – the potential resistance objectives heading into the monthly open.
In this webinar we take an in-depth look at the technical trade levels forUS Dollar (DXY),Euro (EUR/USD), British Pound (GBP/USD), Australian Dollar (AUD/USD), US 10Year Treasury Yield (US10Y), Japanese Yen (USD/JPY), Canadian Dollar (USD/CAD), Gold (XAU/USD), Silver (XAG/USD), Crude Oil (WTI), S&P 500 (SPX500), Nasdaq (NDX), Dow Jones Industrial Average (DJI).
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.