US Dollar, EUR/USD, GBP/USD, AUD/USD, Gold, Oil Technical Outlook

Graphic of trading data chart
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By :  ,  Sr. Technical Strategist

Weekly Technical Trade Levels on USD Majors, Commodities & Stocks

  • Technical setups we are tracking into the weekly open
  • Next Weekly Strategy Webinar: Monday, July 22 at 8:30am EST
  • Review the latest Weekly Strategy Webinars or Stream Live on my YouTube playlist.

In this webinar we take an in-depth look at the technical trade levels for the US Dollar (DXY), Euro (EUR/USD), British Pound (GBP/USD), GBP/JPY, Australian Dollar (AUD/USD), Canadian Dollar (USD/CAD), Japanese Yen (USD/JPY), Bitcoin (BTC/USD), Swiss Franc (USD/CHF), Gold (XAU/USD), Crude Oil (WTI), 10yr Treasury Yields,  S&P 500 (SPX500), Nasdaq (NDX) and the Dow Jones (DJI). These are the levels that matter on the technical charts heading into the weekly open.

Euro Price Chart – EUR/USD Weekly 

Euro Price Chart  EUR USD Weekly  Euro vs US Dollar Trade Outlook  EURUSD Technical Forecast  715202

Chart Prepared by Michael Boutros, Sr. Technical Strategist; EUR/USD on TradingView

Euro is approaching a critical resistance zone at 1.0933/42- a region defined by the 61.8% Fibonacci retracement of the December decline, the December high-week and the objective 2024 high-week close (HWC). A three-week advance has already rallied 2.4% off the June low and the immediate advance may be vulnerable into this threshold. Initial weekly support now back a the 108-handle with 1.0641/77 still key. A topside breach / close above this major hurdle would expose subsequent resistance objectives at 1.1038 and 1.1108.

Australian Dollar Price Chart – AUD/USD Weekly

Australian Dollar Price Chart  AUD USD Weekly  AUDUSD Technical Forecast  Aussie Trade Outlook 71520

Chart Prepared by Michael Boutros, Sr. Technical Strategist; AUD/USD on TradingView

The AUD/USD breakout is now approaching a key technical confluence at the objective yearly open and the 61.8% retracement of the 2023 decline at 6810/19- looking for a reaction into this threshold IF reached. Weekly support now back at 6676/90 with a topside breach / close above this pivot-zone exposing the 2023 high-week close at 6922.

Get our exclusive guide to AUD/USD trading in H2 2024

Economic Calendar – Key USD Data Releases

 Economic Calendar - Key Data Releases - USD Weekly Event Risk - 7-15-2024

Economic Calendar - latest economic developments and upcoming event risk.

--- Written by Michael Boutros, Sr Technical Strategist with FOREX.com

Follow Michael on X @MBForex

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