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  • Time to break out some ratios like commercial real estate property tickers (eg $SPG) relative to Amazon ($AMZN) or Carnival Cruise ($CCL) relative to Netflix ($NFLX)
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: -0.07% 🇬🇧GBP: -0.11% 🇦🇺AUD: -0.42% 🇪🇺EUR: -0.54% 🇳🇿NZD: -0.59% 🇨🇭CHF: -0.63% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/VvEMwfDftX
  • Rising yields (the aggregate yield I mentioned earlier is overlaid and inverted in red here) is dragging gold lower. The 60-day correlation (3 trading month) between $GC_F and yields is the strongest net negative since Oct 2019 https://t.co/Myo0FlsvJA
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  • The Australian Dollar now risks a deeper March correction with the AUD/USD price reversal approaching multi-month uptrend support. Get your $AUDUSD market update from @MBForex here:https://t.co/jYfBrd5b22 https://t.co/tbU9BM3n3L
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EUR/USD Favored Long on Trend Line Break

EUR/USD Favored Long on Trend Line Break

Ilya Spivak, Head Strategist, APAC

EUR/USD Technical Strategy: Pending Long

Prices are testing above trend line resistance at 1.3020 after putting in a bullish Piercing Line candlestick pattern. Positive RSI divergence reinforces the case for an upside scenario. A break upward on a daily closing basis initially exposes the 14.6% Fibonacci expansion at 1.3154.Near-term support is at 1.2910, the March 14 low. We will look for confirmation of a breach out to enter long in line with our 2013 outlook.

Forex_Analysis_EURUSD_Favored_Long_on_Trend_Line_Break_body_Picture_5.png, EUR/USD Favored Long on Trend Line Break

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

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