Friday, 20 September 2019 06:57 GMT

Weekly Trade Levels: US Dollar, EUR/USD, USD/CAD, Gold, Silver & SPX

(MENAFN - DailyFX) Technical trade setups we're tracking across theUSDMajors / Commodities this week Check out our New 2019 projections in ourFree DailyFX USD Trading Forecasts Live Weekly Trading Webinars onMondays on DailyFX at 8:30ET

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US Dollar Eyes Resistance - Gold / Silver Prices Threaten Pullback

TheUS DollarIndex is approaching key resistance targets ahead of this week's Economic Symposium in Jackson Hole. The focus remains on possible exhaustion heading into uptrend resistance levels just higher. While the levels are clear heading into the weekly open, momentum profiles remain flat and we're looking for a catalyst to get things going – stay nimble here. In this webinar we review updated technical setups onDXY ,EUR/USD ,USD/CAD ,GBP/USD ,Gold (XAG/USD) ,Silver (XAG/USD) ,Oil (WTI) ,USD/JPY ,SPX (S & P 500) ,GBP/JPY ,EUR/JPYandEUR/AUD .

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Key Trade Levels in Focus

DXY– The Dollar rally is approaching key resistance targets at 98.27/40 – we're looking for a reaction there early in the week. Initial support at b with near-term bullish invalidation raised to 97.87.

EUR/USD– Price tested monthly open support late seek at 1.1075. Near-term resistance at 1.1138/43 – a breach there is needed to suggest a more significant low is in place. A downside break inEuroexposes 1.1027.

USD/CAD– The near-term structure is questionable but we're looking for possible topside exhaustion – levels of interest at the slope confluence near ~1.3320s and the 61.8% retracement at 1.3355. Monthly open support rests at 1.3190.

Gold–XAU/USD reversed off critical resistancelast week at 1522/26. Initial support at 1497 backed by 1482. Weekly open resistance at 1512- look for a hold there IFgold pricesare going to correct lower. A topside breach exposes 1557.

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---Written byMichael Boutros , Currency Strategist with DailyFX

Follow Michael on Twitter@MBForex


Weekly Trade Levels: US Dollar, EUR/USD, USD/CAD, Gold, Silver & SPX

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