Weekly Technical Forecast: Will Liquidity Define the Equities, EURUSD and Oil Reversals?
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Calling a true recovery for crude oil owing to a three day steadying is extremely risky against the backdrop of a near 30 percent collapse for the commodity.
The Pound faced a tumultuous trading week with a breakdown in Brexit optimism as members of Parliament voiced outrage over a proposed Brexit deal text.
The Dollar hit a 16-month high last week, but it will begin the upcoming period distorted by low liquidity in retreat and eyeing medium-term support.
The November recovery was further peeled back this week as sellers remained in global equities.
The Euro has mounted a spirited recovery from mid-November lows but overall positioning continues to look decidedly bearish, hinting at deep losses further ahead.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.