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  • RT @KyleR_IG: The curve on Friday. https://t.co/do1E6LmfRM
  • Gold suffered a significant breakdown last week as it plummeted beneath support and tagged new lows. Get your $XAUUSD market update from @PeterHanksFX here:https://t.co/850orYzr93 https://t.co/yMTFkLQJSd
  • The Canadian Dollar was hobbled last week, nearly falling through key technical levels. But said technical thresholds were never tripped. Get your $CAD market update from @CVecchioFX here: https://t.co/xEKh42TRbx https://t.co/uB7gQg5ztB
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.60% 🇳🇿NZD: 0.37% 🇪🇺EUR: 0.34% 🇨🇦CAD: 0.07% 🇯🇵JPY: 0.06% 🇨🇭CHF: 0.05% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/cprSmzQd2v
  • 🇳🇿 Building Permits MoM (JAN) Actual: 2.1% Previous: 5.1% https://www.dailyfx.com/economic-calendar#2021-03-02
  • Heads Up:🇦🇺 Markit Services PMI Final (FEB) due at 22:00 GMT (15min) Previous: 55.6 https://www.dailyfx.com/economic-calendar#2021-03-02
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Gold: 0.70% Silver: 0.68% Oil - US Crude: -0.37% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/7oCCFYvG6O
  • EUR/USD appears to be defending the yearly low (1.1952) even as European Central Bank (ECB) officials endorse a dovish forward guidance for monetary policy. Get your $EURUSD market update from @DavidJSong here:https://t.co/CMCUpx5ssP https://t.co/UXLAKmdeTX
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.63%, while traders in Germany 30 are at opposite extremes with 71.61%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/bmtKjceCBe
  • Heads Up:🇳🇿 Building Permits MoM (JAN) due at 21:45 GMT (15min) Previous: 4.9% https://www.dailyfx.com/economic-calendar#2021-03-02
Crude Still Holding Fibonacci Support and Rising Support Line

Crude Still Holding Fibonacci Support and Rising Support Line

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_oil_body_crude.png, Crude Still Holding Fibonacci Support and Rising Support Line

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Are you new to FX or curious about your trading IQ?

Commodity Analysis: No change: “Crude has reached a level that may prove difficult to break. The level in question is defined by the 61.8% retracement of the rally from November’s low, resistance throughout November and early December, and the trendline that extends off of the June and December 2012 lows. Resistance is now 92.”

Commodity Trading Strategy: Moved from short to flat. Shorts at higher levels are likely.

LEVELS: 87.94 89.33 90.25 92.00 93.40 9440

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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