Weekly Technical Forecast:Weigh S&P 500 Reversals, EURUSD Breaks and Gold Trends
Economic news and intermarket developments were not favorable for crude oil last week, and crude traders seemed to take profits as the crude oil price pulled away from the 2019 extreme high of $58/bbl.
With considerable help from the Euro via EURUSD, the Dollar posted a dramatic charge this past week to test a key range high resistance. After a Friday retreat, is the Dollar still in a position to earn a key bullish break?
Gold’s long-term technical uptrend looks set to resume as anti-risk fundamentals helps boost the commodity higher.
At last we got a meaningful move out of the Euro, which brings us to the question of whether the move is sustainable, or will it get reversed as all price swings have in recent months.
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