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  • $EURGBP at risk of extended losses after breaking to the downside of a 12-month Symmetrical Triangle pattern and slashing through the support range at 0.8865 - 0.8875 A push towards 0.8670 - 0.8690 looks on the cards if sellers hurdle psychological support at 0.8800 $EUR $GBP https://t.co/zS9CyhUqMf
  • *Slight move higher in USDCAD
  • $EURCAD fell to its lowest level since the weekend following Canada December CPI print and ahead of the BoC's policy decision. $EUR $CAD https://t.co/wSzoYavl55
  • Slight move higher in $CAD following lower than expected CPI figures - Average of common, trim and median now 1.6% from 1.7% BoC next up where there have been some suggestion of a micro-cut. Although, analysts are widely expecting policy to remain unchanged
  • 🇨🇦 Core Inflation Rate YoY (DEC) Actual: 1.5% Previous: 1.5% https://www.dailyfx.com/economic-calendar#2021-01-20
  • 🇨🇦 Inflation Rate MoM (DEC) Actual: -0.2% Expected: 0% Previous: 0.1% https://www.dailyfx.com/economic-calendar#2021-01-20
  • 🇨🇦 Inflation Rate YoY (DEC) Actual: 0.7% Expected: 1% Previous: 1% https://www.dailyfx.com/economic-calendar#2021-01-20
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in EUR/JPY are at opposite extremes with 69.70%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/AXmUqJ4OYi
  • Defensive stocks have proven critically important when navigating stock market volatility. Find out what are the most defensive stocks here:https://t.co/TMcbMALtbw https://t.co/5c0aVsI3fK
  • The US Dollar is strengthening again today, with the $DXY above 90.50, after falling to a weekly low around 90.275 early this morning. $USD https://t.co/gseQbAE3hY
Jamie's Pick: 02/08/12

Jamie's Pick: 02/08/12

Jamie Saettele, CMT, Sr. Technical Strategist

5 waves up out of the triangle are complete, which leaves the EURUSD vulnerable to at least a corrective decline. 13165-13200 is support and the larger trend is considered bullish towards the mid 13400s as long as price is above 13088 (2/7 low). So, I am looking lower from here but will establish longs below 13200.

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