EURUSD and Pound Attempt Reversal from Multi-Year Lows, S&P 500 Close to Record High
The first week of trade following the transition out of the ‘summer doldrums’ maintained an elevated clip of volatility but the range of key assets seemed to finally push stubborn ranges. That said, will the Dollar’s reversal lower and Pound higher bear fruit into a full-size swing? What about the S&P 500’s and Dow’s bid for fresh record highs, so close at hand?
S&P 500 bulls take control with the index making a topside breakout, while DAX pushes higher ahead of next week’s ECB meeting.
Aussie is bouncing hard off multi-year lows, but it may not be trustworthy as the longer-term trend continues to remain firmly down.
The US Dollar reversed off long-term slope resistance this week, opening the door for further dollar losses. Here are the levels that matter on the DXY weekly chart.
Crude oil prices remain caught in a range with a confluent zone of resistance overhead. Are bears nearing another break?
Gold price selling pressure accelerated this past week with XAUUSD now down over 3% from recent highs, but can technical support keep its bullish trend intact moving forward?
The British Pound made a significant move to start what could be a wholesale reversal. The technicals from pairs like GBPUSD look very appealing but to ignore the uncertainty from Brexit would be reckless.
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