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
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
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.
Economic Calendar – Key USD Data Releases
Economic Calendar - latest economic developments and upcoming event risk.
--- Written by Michael Boutros, Sr Technical Strategist with FOREX.com
Follow Michael on X @MBForex