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EURUSD Gains Look to Be Overdone
The euro retreats after testing a session high of 1.1354 on Friday, marking a rally to a one-year high. Prices are consolidating near the 1.1300 region at the moment. A close below this level could signal a move back to the 1.1200 handle. This will mark a confluence of the secondary trend line and the horizontal support.
Can WTI Crude Oil Find a Bottom?
WTI crude oil prices fell over 9% on Friday as price touched a three-year low of 41.06. This coincides with a multi-year support level at 41.50. If this level holds, we could see some consolidation taking place. This consolidation will most likely remain within the 41.50 and 46.50 levels. Watch for any initial signs of higher low forming which could signal a rebound.
GBPUSD Shifts Direction as Further Upside Likely
The pound sterling broke out sharply to the upside to pare losses from earlier sessions. After recovering above 1.2858, cable surged sharply higher above 1.2960. With the current momentum, ...
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