USD Majors, Stocks, Gold & Oil Levels for FOMC- Weekly Technical Outlook
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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, Nasdaq, Dow, Gold, Crude Oil and more!
- New to Gold Trading? Get started with this Free How to Trade Gold -Beginners Guide
USD Bulls Look to FOMC for Fuel- S&P 500, Nasdaq, Dow Poised for Further Losses
In our last Strategy Webinar we warned that the equity recovery may be short-lived as the S&P 500 was approaching technical downtrend resistance. The subsequent sell-off broke below the monthly opening-range lows with all three major indices now approaching short-term support early in the week. All eyes now fall on the FOMC interest rate decision with consensus estimates widely pricing a 75basis point hike from the Fed. A look across the USD Majors highlights numerous setups coming into key technical zones and we remain nimble heading into the release. That said, the levels are well defined 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), Australian Dollar (AUD/USD), Japanese Yen (USD/JPY), Canadian Dollar (USD/CAD), Crude Oil (WTI), Gold (XAU/USD), S&P 500 (SPX500), Nasdaq (NDX), Dow Jones Industrial Average (DJI), and the DAX (GER30).
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.