Weekly Technical Trade Levels on USD Majors / Commodities
Vaccine Headlines Buoy Market Sentiment – Gold Price Reversal Holding September Low
News of another Covid-19 vaccine with an efficacy rate of 95% has fueled another market rally with the SPX pressing back towards the monthly / record highs. The move has not manifested as much in FX with the US Dollar Index (DXY) still holding above critical multi-year trend support. Markets are poised with numerous USD Majors trading within well-defined formations at key levels and we’re looking for a reaction early in the week. A massive reversal in gold last week keeps the bulls on notice as price holds just above the September lows into the open. An in-depth look at the technical levels for the US Dollar Index, EUR/USD , GBP/USD , AUD/USD , Gold , BTC /USD, USD/CAD , Crude Oil (WTI), USD/JPY and SPX.
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November 17, 2020 (updated November 17, 2020) Published by StockMan