Weekly Technical Trade Levels on USD Majors / Commodities
US Dollar, Oil Stall at Key Resistance- Bitcoin Breakout Pending- July Opening-range Setups in Play
The US Dollar Index opened its sixth consecutive week just below a key technical threshold we’ve been tracking for months now with DXY carving the July opening-range at uptrend resistance- we’ re looking for the breakout to offer further guidance on our medium-term outlook. That said, setups are plentiful across the USD Majors with levels on the commodities also suggesting the risk for some back-and-fill price action here this week. Keep in mind we get a barrage of inflation prints from across the globe this week with central bank rate decisions on tap from the RBNZ, the BoC and the BoJ – buckle-up! In this webinar we take an in-depth look at the key technical trade levels for US Dollar Index,US Treasuries Yields (US10Y), EUR/USD, GBP/USD, USD/CAD, NZD/USD, AUD/USD, USD/JPY,Crude Oil (WTI), Bitcoin (BTC/USD), SPX.
For a complete breakdown of Michael’s trading strategy, review his Foundations of Technical Analysis series on Building a Trading Strategy
Economic Calendar
Economic Calendar – latest economic development and upcoming event risk
—Written by Michael Boutros, Currency Strategist with DailyFX
Follow Michael on Twitter @MBForex
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
