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MENAFN- DailyFX) Weekly Technical Trade Levels on USD Majors, Commodities & Stocks
- Technical setups we're tracking into the weekly open
- Key levels for the US Dollar Majors, SPX500 , Nasdaq , Gold , Oil and more!
- New to Gold Trading? Get started with this Free How to Trade Gold -Beginners Guide
Advertisement US Dollar Rally Extended- Stock Reprieve Could be Short-Lived
Six-weeks up in the US Dollar Index – Six-weeks down in the SPX – markets are stretched! The S&P 500 signaled the conditions of a bear market with price plunging 19.93% off the highs before rebounding off downtrend support last week. That said, the immediate focus is on this recovery within the context of the broader downtrend and we're looking for possible topside exhaustion in the days ahead. For the US Dollar, the index has continued to press uptrend resistance and while the broader focus remains tilted to the topside, the threat of near-term exhaustion again is high here. That said, the conditions aren't the same across the board and we'll be tracking each setup on its own merits heading into the start of the week.
In this webinar we take an in-depth look at the technical trade levels forUS Dollar (DXY) ,Euro (EUR/USD) ,Canadian Dollar (USD/CAD ),British Pound (GBP/USD ), Australian Dollar (AUD/USD ), New Zealand Dollar (NZD/USD ), Gold (XAU/USD ), S&P 500 (SPX500) , Nasdaq (NDX), Crude Oil (WTI), GBP/CAD , Bitcoin and theDow Jones Industrial Average (DJI).
You can always find the latest Strategy Webinar on my YouTube playlist .
For a complete breakdown of Michael's trading strategy, review his Foundations of Technical Analysis series on Building a Trading Strategy
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---Written by Michael Boutros , Technical Strategist with DailyFX
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