Weekly Technical Outlook Summary - August 24, 2026
By Michael Boutros, Sr. Technical Strategist
Overview
This article provides a technical analysis of key financial instruments including the US Dollar Index, Gold, and Bitcoin, along with an economic calendar highlighting significant upcoming events. The analysis focuses on critical price levels and potential market movements as the week progresses.
USD Majors, Commodities & Stocks
The article outlines the technical setups for various USD pairs, commodities, and equity indices. It emphasizes the importance of the upcoming economic events, including the Core PCE report and the Jackson Hole Symposium, which are expected to influence market sentiment and price action.
US Dollar Index (DXY)
The US Dollar Index is currently testing support levels around 98.68/69, with a potential downtrend resumption if it closes below this range. Key resistance is noted at the 200-day moving average near 98.17, with significant levels at 99.41/49. The focus is on a near-term recovery, but a close below the lower parallel could indicate further declines.
Gold (XAU/USD)
Gold has broken out of its yearly downtrend, rallying over 18.7% from its lows. Initial resistance is at the May high-day close of 4716, with further resistance at the 61.8% retracement level of 4841/55. Support is identified at 4506/33, and a break below 4450 would suggest a significant correction.
Bitcoin (BTC/USD)
Bitcoin has also broken out of its May downtrend, with a rally exceeding 38.5% from yearly lows. It is currently testing resistance levels between 80,589 and 81,447. Initial support is at 74,434-76,159, with a critical level at 70,283/531 that, if breached, could indicate a reversal.
Economic Calendar
The article highlights key economic events that could impact market dynamics, including the Core PCE report and Fed Chair Kevin Warsh's address at Jackson Hole, which are anticipated to provide insights into future monetary policy and inflation management.