Weekly Technical Levels to Trade Forex & Commodities, Nov 4-8

The greenback tried to rally on Friday after US payrolls beat forecasts, but was undone by a soft manufacturing survey which left...

Written by: Arslan Butt • Monday, November 4, 2019 • 1 min read

• Last updated: Monday, November 4, 2019

The greenback tried to rally on Friday after US payrolls beat forecasts, but was undone by a soft manufacturing survey which left it looking heavy. Let’s follow these levels to trade this week as the US dollar may remain supported over stronger labor market reports.

EUR/USD – Technical Levels

Support Resistance
1.1101 1.1203
1.1036 1.124
1.0934 1.1342
Key Trading Level: 1.1138

USD/JPY – Daily Technical Levels

Support Resistance
107.62 109.02
107.05 109.86
105.65 111.26
Key Trading Level: 108.45

GBP/USD – Daily Technical Levels

Support Resistance
1.2838 1.3008
1.2738 1.3077
1.2568 1.3246
Key Trading Level: 1.2907

GOLD – XAU/USD – Daily Technical Levels

Support Resistance
1491.48 1527.07
1468.53 1539.71
1432.94 1575.3
Key Trading Level: 1504.12

WTI Crude Oil – Daily Technical Levels

Support Resistance
54.36 57.54
52.47 58.83
49.29 62.01
Key Trading Level: 55.65

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ABOUT THE AUTHOR See More

Arslan Butt

Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.