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  • Gold prices gain as potential systemic risks out of China's Evergrande Group roil broader markets. Meanwhile, iron ore is ticking higher after a big drop on Monday as China steps up steelmaking curbs. Get your market update from @FxWestwater here:https://t.co/l4kAWDJ2wm https://t.co/b9m5ADIqqb
  • Gold remains higher despite positive Evergrande news out of China. Meanwhile, copper bulls are pushing prices upward as the potential for a housing crisis in China ebbs. Get your market update from @FxWestwater here:https://t.co/TK3MNntBdA https://t.co/14UKjR4w6M
  • GBP/USD has flattened overnight after its strongest rally in a month on Thursday. The British currency has been under pressure recently as an energy crisis has caused a number of gas providers to go bankrupt. Get your market update from @HathornSabin here:https://t.co/3D8s2eIVWv https://t.co/JDGNwKYyOn
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here: https://t.co/mfwJ0sIauS https://t.co/JIT5it2HAt
  • Gold could suffer further near-term losses due to rising U.S. Treasury yields and a weak technical picture for price action. Get your weekly gold forecast from @DColmanFX here: https://t.co/g9QvH3L4It https://t.co/Vz98E0Bl9U
  • Gold has been trending lower after failing to clear resistance in the $1835 area earlier this month. Get your $XAUUSD market update from @DColmanFX here:https://t.co/3hm1g3BHgf https://t.co/MdTQKEBCBx
  • Key break here in the 10-year #Treasury yield as it rises to the highest since late June Took out 1.4230 resistance, and the 100-day SMA Eyes now on the 38.2% Fib extension at 1.4775 Also potential falling resistance from March https://t.co/4cI6l210ui
  • The move in rates after this week’s FOMC has continued and the 10 year yield has pushed up to a fresh two-month-high. Get your market update from @JStanleyFX here:https://t.co/CRWhuZ3sxD https://t.co/svHHqN2Zz8
  • S&P 500 contending with its proverbial ‘line in the sand’ as bulls and bears battle for directional control. How we close/trade around the 50-day moving average could serve as a noteworthy bellwether for risk trends headed into next week. I remain cautious below ~4,480. $SPX $ES https://t.co/qogkjs1Sx2
  • USD/JPY trades to a fresh monthly (110.57) amid the pickup in longer-dated US Treasury yields, and the exchange rate may stage a larger advance over the coming days. Get your market update from @DavidJSong here:https://t.co/dlNXOrJnM9 https://t.co/LCQd26W1zF
Webinar: Euro Faces May Lows- USD Outlook Murky at Three Month Highs

Webinar: Euro Faces May Lows- USD Outlook Murky at Three Month Highs

Michael Boutros, Strategist

Talking Points

EURUSD Daily

Webinar: Euro Faces May Lows- USD Outlook Murky at Three Month Highs

Chart Created Using FXCM Marketscope 2.0

Notes: The Euro has come into the key support range highlighted last week at the May lows / the 61.8% retracement at 1.0818/45. Note that momentum has continued to hold 40-suppoert and as such leaves the short-side vulnerable near-term while above this threshold. Resistance stands at with the upper median-line parallel / Friday’s highs around the 1.09 handle (bearish invalidation) with a break of the lows targeting objectives into 1.07 where the 76.4% retracement converges on trendline support off the yearly low.

Gold Weekly

Webinar: Euro Faces May Lows- USD Outlook Murky at Three Month Highs

Notes: Gold broke below critical support last week with the sell-off finding initial support at the median-line extending off the 2014 high. Broader bias remains weighted to the downside while below 1145/50 with support targets eyed at the 2010 low at 1044 and the Fibonacci confluence down at 975/80.

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Key Data Releases this Week

Webinar: Euro Faces May Lows- USD Outlook Murky at Three Month Highs

Other Setups in Play:

---Written by Michael Boutros, Currency Strategist with DailyFX

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