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 Pullback Underway- Equities / Commodity Rebound to Offer Reset
In our last Strategy Webinar we discussed the risk for topside exhaustion in the US Dollar as the index was approaching uptrend resistance – we got it! The focus heading into the start of the week / month / quarter is on this near-term pull-back and we’re on the lookout for a possible exhaustion low in the days / weeks ahead. Likewise, short-side equity exposure seems vulnerable into the open and a recovery may offer more favorable opportunities. That said, stay nimble into the October open with US Non-Farm Payrolls (NFP) and Canada employment data on Friday likely to spur some volatility into the close of the week.
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), S&P 500 (SPX500), Nasdaq (NDX), Dow Jones Industrial Average (DJI), Crude Oil (WTI) and 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 - 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.