Strategy Webinar: USD Majors, Gold, Oil, Stocks Technical Outlook
Weekly Technical Trade Levels on USD Majors, Commodities & Stocks
- Technical setups we’re tracking into the weekly open / August close
- Key levels for the US Dollar Majors, Gold, Crude Oil, SPX500, Nasdaq, Dow and more!
- New to Gold Trading? Get started with this Free How to Trade Gold -Beginners Guide
USD August Range Breakouts at Trend Extremes- S&P 500, Nasdaq, Dow In Search of Uptrend Support
In our last Strategy Webinar we noted, “monthly opening-ranges taking shape in numerous USD Majors – they remain intact with the DXY preserving the lows at trend support. The equity rally has surged through initial resistance objectives and we’re on the lookout for possible exhaustion just higher with all three major indices coming into some key technical levels.” The ranges finally broke last week with the DXY, Sterling, Yen, Bitcoin and more stretching to extremes into the open- time to get defensive. We’re heading into the close of the month with US Non-Farm Payrolls (NFP) on tap ahead of an extended holiday break – a good time to consider lower position size / bring in protective stops and consider reducing overall exposure.
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), 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 (BTC/USD), Home Depot (HD), Apple (AAPL) and Target (TGT).
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.