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, Gold, Crude Oil, SPX500, Nasdaq, Dow and more!
- New to Gold Trading? Get started with this Free How to Trade Gold -Beginners Guide
USD Exhaustion Pullback Underway- S&P 500, Nasdaq, Dow Recovery May be Short-lived
In our last Strategy Webinar we noted that heading into the close of August, numerous setups were stretching towards trend extremes and the mounting risk for exhaustion. A closer examination of price action of the past two-weeks reveals massive reversals off key confluence zones across the USD majors, commodities and the major equity indices. The focus now shifts to key inflation data out of the US with CPI data tomorrow likely to steer the narrative heading into the FOMC interest rate decision later this month. That said, the technicals are clear and the stage set into the weekly open.
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), Japanese Yen (USD/JPY), Gold (XAU/USD), Silver (XAG/USD), Crude Oil (WTI), S&P 500 (SPX500), Nasdaq (NDX), Dow Jones Industrial Average (DJI), Bitcoin (BTC/USD), Target (TGT), Home Depot (HD), Amazon (AMZN) and the Australian Dollar (AUD/USD).
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
