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  • The US Dollar is continuing to strength today. The $DXY has risen above the 90.80 level to its highest point since last Wednesday. $USD https://t.co/OFWBlH3loM
  • quite the reversal in commod currencies over the past two days. $USDCAD from falling wedge support to resistance. this tl held a number of inflections earlier this month, now being tested through https://t.co/O2zqFkYz9Y https://t.co/Rljf0c6JE3
  • $USDCHF rose to trading above the 0.9100 level for the first time since November. $USD $CHF https://t.co/afJSa3Ap5h
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.86%, while traders in GBP/JPY are at opposite extremes with 67.99%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/7CenEe3hcL
  • Hey traders! Wrap up your week with a quick market update from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/9Sfqv1U0TJ
  • Commodities Update: As of 17:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -2.02% Gold: -2.70% Silver: -4.40% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/pOc7rwbN4x
  • Forex Update: As of 17:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.41% 🇬🇧GBP: -0.45% 🇨🇭CHF: -0.51% 🇨🇦CAD: -0.76% 🇳🇿NZD: -1.57% 🇦🇺AUD: -1.85% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/wtEBvYAAG2
  • A pullback off confluence uptrend support threatens a larger pullback here but keeps the broader trade constructive while within this formation. Get your $btc market update from @MBForex here:https://t.co/ScHuboiZRB https://t.co/gNiGelWKTM
  • Indices Update: As of 17:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.49% France 40: 0.47% Germany 30: 0.45% US 500: 0.28% Wall Street: -0.69% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/4LwfSsKX6u
  • ECB's Visco: - Extreme prudence must be used before exiting support measures - Must wait for a substantial recovery before getting out of easy money conditions #ECB $EUR
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.

For updates on these scalps and more setups throughout the week subscribe to SB Trade Desk

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

Follow Michaelon Twitter @MBForex,contact him at mboutros@dailyfx.com or Click Here to be added to his email distribution list

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