
US Dollar, GBP/USD, USD/CAD, USD/CHF, Gold Weekly Technical Outlook 11 2 2026
Sr. Technical Strategist Michael Boutros highlights the levels that matter on the USD Majors, commodities, and equity indices charts this week.
Stay in step with market opportunities and get insights, actionable trade ideas and dedicated support.

Sr. Technical Strategist Michael Boutros highlights the levels that matter on the USD Majors, commodities, and equity indices charts this week.

With just one trading session left before the week comes to an end, the strength that has recently emerged around the Canadian dollar has once again become relevant. This can be observed in the recent performance of USD/CAD, which has declined nearly 0.3% over the last two trading sessions.

USD/CAD is closing in on critical support, with a potential exhaustion low in focus as the Fed decision raises the stakes for the monthly close.

Australian CPI and rate decisions from the RBNZ, BoC and Fed put AUD, NZD and CAD to the test, with inflation surprises and policy guidance in focus.

Tomorrow brings the Fed and then mid-term elections next week and CPI the week after, so we have a loaded few weeks ahead as USD strength remains in-play.

USD/CAD has surrendered much of its October rally after reversing from yearly highs, with bears threatening to unravel the broader recovery.

USD/CAD was in a strong bullish trend through the October open, but that has since turned into a decisive sell-off. The 1.4000 level is now in play and that begs the question as to whether bulls can force a turn.

Sr. Technical Strategist Michael Boutros highlights the levels that matter on the USD Majors, commodities, and equity indices charts this week.

USD/CAD has delivered a bullish reversal signal from established support, just as traders prepare for Fed and BoC decisions. Aggressive Canadian rate hike expectations and conflicting momentum signals make the coming session important.

The Dollar is working on its second consecutive red week and while sellers didn’t exactly pounce on fresh lows, there’s an opening door for bears to make a move.

The US Dollar finished last week with a bearish engulf following a four-week winning streak. But the big question now is whether the Euro can pose any form of a recovery.

The Canadian dollar strengthens despite CPI missing expectations, as rising long-term inflation expectations complicate the BoC outlook for USD/CAD and AUD/CAD.

Sr. Technical Strategist Michael Boutros highlights the levels that matter on the USD Majors, commodities, and equity indices charts this week.
This report is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs.
StoneX Financial Pte. Ltd., may distribute reports produced by its respective foreign entities or affiliates within the StoneX group of companies or third parties pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the report is distributed to a person in Singapore who is not an accredited investor, expert investor or an institutional investor (as defined in the Securities Futures Act), StoneX Financial Pte. Ltd. accepts legal responsibility to such persons for the contents of the report only to the extent required by law. Singapore recipients should contact StoneX Financial Pte. Ltd. at 6826 9988 for matters arising from, or in connection with the report.
In the case of all other recipients of this report, to the extent permitted by applicable laws and regulations neither StoneX Financial Pte. Ltd. nor its associated companies will be responsible or liable for any loss or damage incurred arising out of, or in connection with, any use of the information contained in this report and all such liability is hereby expressly disclaimed. No representation or warranty is made, express or implied, that the content of this report is complete or accurate.
StoneX Financial Pte. Ltd. is not under any obligation to update this report.
Trading CFDs carries a high level of risk that may not be suitable for some investors. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice. Visit www.forex.com/en-sg/terms-and-policies for the complete Risk Disclosure Statement.