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  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.02%, while traders in US 500 are at opposite extremes with 68.36%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/8OCSgtJeBx
  • there's a bullish channel in here the spans back to last year's q4 $EURJPY support side was tested this morning but bulls making a strong push back-above the 130 handle https://t.co/gHQtawE3BH https://t.co/3XU9kb72f5
  • $EURJPY has mostly been consolidating between the 129.50 and 130.50 levels in April, trading around its highest point since the fall of 2018. The pair hit a fresh multi year high just shy of the 131.00 level earlier this week. $EUR $JPY https://t.co/M9gO4rcOZh
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.68% Gold: -0.42% Silver: -0.66% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/cHoZ7KZRDX
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.46% 🇦🇺AUD: 0.35% 🇨🇭CHF: 0.21% 🇬🇧GBP: 0.07% 🇨🇦CAD: 0.06% 🇯🇵JPY: 0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/ngF6ZwsVQk
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  • What is going on in crypto recently? It's like everyone got an email from the IRS at the same time that said they are aware of their crypto profits and they are taxable...
  • US 10yr Treasury yields are continuing to trade around the 1.56% level today. After stepping back from the pandemic highs hit in late March, the 10yr yield fell to a one month low late last week and has remained around those levels since. $USD https://t.co/sPUXlGYyl9
  • AUD/USD continues to receive good demand from the 0.77 handle, which also coincides with the 100DMA. On the flip side, bears have looked to engage at 0.7800-20. Get your $AUDUSD market update from @JMcQueenFX here:https://t.co/r3UVHcEKSR https://t.co/2IlpVGoBqj
  • NY Fed's GDP Nowcast model sees US Q1 GDP at 6.9% vs. 6.78% in prior week. #Fed $USD
Crude 7 Month Trendline Important to Next Move

Crude 7 Month Trendline Important to Next Move

Jamie Saettele, CMT, Sr. Technical Strategist

Weekly Bars

eliottWaves_oil_body_crude.png, Crude 7 Month Trendline Important to Next Move

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

Commodity Analysis: Crude’s range last week was the largest in at least 26 weeks. Price is slightly above the 13 week and 52 week midpoints which differ by only .10. The proximity of these midpoints indicates crude’s lack of direction over the last year. Since slipping just below the line that extends off of the 2008 and 2012 lows, crude has rallied over $9. If the rally doesn’t stop here then the line that connects the highs since September 2012 is in play. That line is near 96.70 this week.

Commodity Trading Strategy: Was triggered order at 91.60, stop is 95.00

LEVELS: 88.23 89.45 92.05 94.79 95.89 96.89

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

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