Technical Trade Levels on USD Majors / Commodities on a Weekly Basis Updated trading levels on the US Dollar, Euro, Loonie, Kiwi, Gold, Oil, Bitcoin, and more! Technical setups we’re following across the USD Majors / Commodities heading towards weekly open Are you new to the gold market? Get started with this free Beginner’s Guide to Gold Trading.
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Breakout in the US Dollar Vulnerable to the Weekly Open- Yields, Bitcoin Plunge Warning
When a breach of the July opening-range shifts the attention higher, the advance remains vulnerable while below uptrend resistance at the yearly high-week close at 93.01. Across the USD Majors, similar technical situations have been discovered, with the focus on likely weariness early in the week. Today, a fall in gold took out our final support target, and the focus is now on a near-term price rebound. With the SPX moving lower after turning from uptrend barrier, yields on the US10Y broke crucial support today, raising warning flags across the board. The major technical trade levels for the US Dollar Index, EUR/USD, GBP/USD, NZD/USD, USD/CAD, Crude Oil (WTI), Gold, AUD/USD, US10Y, SPX, and Bitcoin (BTC/USD) are discussed in detail in this webinar. Review Michael’s Foundations of Technical Analysis series on Building a Trading Method for a detailed description of his trading strategy. Calendar of Economic Events Economic Calendar – the most recent economic news and the likelihood of forthcoming events—- Written by Michael Boutros, DailyFX’s Currency Strategist Michael can be found on Twitter as @MBForex.
DailyFX delivers forex news and technical analysis on the global currency markets’ current developments.
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