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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 , Bitcoin and more!
- New to Gold Trading? Get started with this Free How to Trade Gold -Beginners Guide
Advertisement Markets Respond to Trend Extremes – The Exhaustion Trade Underway
In my last Weekly Strategy Webinar we noted that the stock reprieve could be short lived - our immediate focus on the SPX500,“recovery within the context of the broader downtrend and we're looking for possible topside exhaustion in the days ahead.” An exhaustion high registered just two-days later with an outside-day reversal candle taking the index into longer-term Fibonacci support on Friday. Our focus now shifts to this pullback in the US Dollar / rebound in the EUR/USD with the S&P 500, Nasdaq & Dow Jones all responding to key support on Friday. The battle-lines are drawn heading into the weekly open.
In this webinar we take an in-depth look at the technical trade levels forUS Dollar (DXY) ,Euro (EUR/USD) ,S&P 500 (SPX500) , Nasdaq (NDX), Dow Jones Industrial Average (DJI), Canadian Dollar USD/CAD , New Zealand Dollar (NZD/USD ), Gold (XAU/USD ), Silver (XAG/USD), British Pound (GBP/USD ), Bitcoin, Apple (AAPL) and Tesla (TSLA).
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
Economic Calendar
Economic Calendar - latest economic development and upcoming event risk
---Written by Michael Boutros , Technical Strategist with DailyFX
Follow Michael on Twitter @MBForex
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