US Dollar Majors, Stocks, Gold & Oil - Weekly Technical Outlook
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, Crude Oil, Gold, Silver and more!
- New to Gold Trading? Get started with this Free How to Trade Gold -Beginners Guide
USD Ripper Risking Exhaustion- S&P 500, Nasdaq, Dow Reprieve to be Short-Lived
In our last Strategy Webinar we highlighted key setups in the USD Majors heading into the FOMC. Since then, the greenback has accelerated and stretched into trend extremes in numerous pairs and the immediate advance may be vulnerable into the start of the week. The markets are digesting a plethora of headlines coming out of the UK as the British Pound plummeted to fresh record lows – that said, the move once has already recovered more than 5.5% off the Asia lows and caution is warranted after rebounding off downtrend support. Stocks are poised to open the week at short-term support and we’re on the lookout for a possible reset in the days ahead within the broader downtrend.
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), ), Japanese Yen (USD/JPY), Australian Dollar (AUD/USD), Crude Oil (WTI), Gold (XAU/USD),Silver (XAG/USD), S&P 500 (SPX500), Nasdaq (NDX), Dow Jones Industrial Average (DJI) and Bitcoin (BTC/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 - 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.