Technical Trade Levels: Dollar, Gold, USD/CAD, USD/MXN, EUR/USD & SPX
Weekly Technical Trade Levels on USD Majors / Commodities
- Technical trade setups we’re tracking across the USD Majors / Commodities this week
- Updated trade levels on US Dollar, Gold, USD/CAD, USD/MXN, EUR/USD, SPX and more!
- New to Gold Trading? Get started with this Free How to Trade Gold -Beginners Guide
USD August Range Break Imminent – Gold Breakout Marks First Signs of Exhaustion
The US Dollar is afloat just above downtrend support with the DXY carving a well-defined monthly opening-range last week. Similarly, the USD Majors have stretched into (or are within striking distance of) major long-term trend extremes and we’re looking for a reaction here this week. The gold breakout has marked fresh record highs with and outside-day reversal post-NFP on Friday threatening the immediate advance. In this webinar, we review the updated technical trade setups on DXY, EUR/USD,USD/CAD, USD/JPY, Gold, AUD/USD, NZD/USD, SPX (SPX500), GBP/USD, USD/MXN, USD/CHF, EUR/GBP & USD/CNH.
For a complete breakdown of Michael’s trading strategy, review his Foundations of Technical Analysis series on Building a Trading Strategy
Key Event Risk This Week
Economic Calendar - latest economic development and upcoming event risk
---Written by Michael Boutros, Currency Strategist with FxNews
Follow Michael on Twitter @MBForex
FxNews provides forex news and technical analysis on the trends that influence the global currency markets.