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  • Reports of an explosion heard in Madrid - La Sexta TV Station
  • #Gold dropped quickly this morning, falling from $1,850 to below $1,835 before bouncing back. The precious metal is now trading around $1,850 again. $XAU $GLD https://t.co/gAs3ytl9g2
  • $EURGBP at risk of extended losses after breaking to the downside of a 12-month Symmetrical Triangle pattern and slashing through the support range at 0.8865 - 0.8875 A push towards 0.8670 - 0.8690 looks on the cards if sellers hurdle psychological support at 0.8800 $EUR $GBP https://t.co/zS9CyhUqMf
  • *Slight move higher in USDCAD
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  • Slight move higher in $CAD following lower than expected CPI figures - Average of common, trim and median now 1.6% from 1.7% BoC next up where there have been some suggestion of a micro-cut. Although, analysts are widely expecting policy to remain unchanged
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  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in EUR/JPY are at opposite extremes with 69.70%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/AXmUqJ4OYi
Crude Weakness Still Within Confines of Bull Trend

Crude Weakness Still Within Confines of Bull Trend

Jamie Saettele, CMT, Sr. Technical Strategist

60 Minute Bars

eliottWaves_oil_body_crude.png, Crude Weakness Still Within Confines of Bull Trend

Prepared by Jamie Saettele, CMT

“The rally from the 2/2 low is unfolding in an impulsive manner thus the decline from 10995 is viewed as a correction on the way to higher prices. The support ‘zone’ is 10675-10459. Specifically, the decline from 10995 is probably a 4th wave so the next rally would compose wave 5. In commodities however, 5th wave extensions are common. Objectives will be determined once evidence is sufficient to suggest that a low is in place.” Wave 4 appears complete, look higher as long as Wednesday’s low holds.

Bottom Line – Higher

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