Weekly Technical Trade Levels on USD Majors / Commodities
US Dollar Threatens Major Price Collapse into December Open– Gold Bears Risk Exhaustion
The US Dollar Index broke below critical multi-year uptrend support last week and while the collapse threatens a much larger price breakdown, the timing of the sell-off into the close of the month leaves the immediate decline vulnerable into the December open. We’re looking to validate a major price inflection on numerous USD setups early in the month. Meanwhile, gold prices have plummeted more than 10% off the monthly highs and we’re on the lookout for downside exhaustion this week. An in-depth look at the technical levels for the US Dollar Index, EUR/USD, Gold, USD/JPY,USD/CAD, AUD/USD, NZD/USD, GBP/USD, Bitcoin (BTC/USD), SPX500 and USD/CHF.
Starts in:
Live now:
Jan 18
( 13:01 GMT )
Live Weekly Strategy Webinars on Mondays at 12:30GMT
Weekly Scalping Webinar
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
Recommended by Michael Boutros
New to Forex Trading? Get started with this Beginners Guide
—Written by Michael Boutros, Currency Strategist with DailyFX
Follow Michael on Twitter @MBForex
Go to the news source: Dollar, EUR/USD, USD/CAD, Gold & Bitcoin Technical Trade Levels
