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Weekly USD majors / commodities technical trading booths
US dollar risks a deeper correction – Bitcoin, gold to try counter-offensives
The US Dollar Index (DXY) has stretched into critical resistance area on a four-week rally, and while the broader focus remains on the upside, the immediate move earlier in the month remains vulnerable while below 94.65 . A similar but inverse scenario can be seen in the SPX500 – last week’s decline bounced back from confluent downtrend support and while a near-term rebound may be underway, the risk of a deeper correction remains below bearish Devaluation at 4444. In this webinar we take a detailed look at the most important technical trading levels for US dollar index,EUR USD, SPX500, US10Y, GBP / USD, USD / CAD, gold (XAU / USD), Silver (XAG / USD), Bitcoin (BTC / USD), crude oil (WTI), USD / JPY and AUD / USD,
For a full breakdown of Michael’s trading strategy, see his Foundations of Technical Analysis series for building a trading strategy
Economic calendar
Economic calendar – current economic development and impending event risk
—Written by Michael Boutros, Currency Strategist at DailyFX
Follow Michael on Twitter @MBForex
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