Michael Boutros

Sr. Technical Strategist Michael Boutros highlights the levels that matter on the USD Majors, commodities & stocks into the weekly open.

USD/CAD plunged nearly 6.9% off the yearly highs with price now ranging just above trend support at the yearly low. Battlelines drawn on the short-term technical charts.

Japanese Yen is on the defensive as the USD/JPY bulls attempts to snap a three-week losing streak. Battle lines drawn on the USD/JPY weekly technical chart.

Oil prices rallied more than 17.6% off the yearly low with the recovery now approaching key resistance hurdles. A multi-timeframe view of the oil technical charts.

AUD/USD surged nearly 8.9% off the yearly low with the bulls now testing resistance at the September downtrend. Battle lines drawn on the Aussie weekly technical chart.

British Pound surged nearly 11% off the yearly low with a ten-day rally in GBP/USD halting at the 2024 highs. Battle lines drawn on the Sterling weekly technical chart.

USD/CAD is attempting to snap a seven-week losing streak with price now testing a multi-year uptrend. Battle lines drawn on the Canadian Dollar weekly technical chart.

The Euro breakout extended to fresh multi-year highs with the bulls struggling into technical resistance near 1.15. Battle lines drawn on the EUR/USD weekly chart.

US Dollar is poised to mark a fifth-weekly decline with the index now testing critical support at multi-year lows. Battle lines drawn on the USD weekly technical chart.

Euro rebounded off multi-month downtrend support with EUR/USD bulls threatening a larger recovery. Battle lines drawn on the EUR/USD weekly technical chart.

The US Dollar is poised for a third weekly decline with a reversal off uptrend resistance now testing key support. Battle lines drawn on the USD weekly technical chart.