Mid-Weekly Technical Update on USD Majors, Commodities & Bitcoin
Technical setups we’re tracking across the USD Majors / Commodities / BitcoinReview of CPI reaction – the levels that matter into the close of the weekNew to Gold Trading? Get started with this Free How to Trade Gold -Beginners Guide
US Dollar Rally Vulnerable After Hot Inflation Data – Gold Threatens Breakout as Bitcoin Drifts
In Monday’s Weekly Strategy Webinar we noted to be on the lookout for possible exhaustion in the US Dollar as DXY approached uptrend resistance. Numerous setups have now extended into trend extremes and the CPI reaction today may be the catalyst we were looking for. In this webinar we take an in-depth look at the key technical trade levels for US Dollar Index,EUR/USD, USD/JPY, GBP/USD, USD/CAD, Gold, Crude Oil (WTI), Bitcoin (BTC/USD), AUD/USD, USD/CHF and US10Y.
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, 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.