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  • The latest US Conference Board consumer confidence fell to the lowest level since February, the headline reading dropping to 109.3, below expectations for 114.5. Get your $USD market update from @JMcQueenFX here:https://t.co/O7xdGsydyF https://t.co/QIi7gEZw0j
  • $SPX Daily . . Know the Levels. . . #SPX https://t.co/2PnAi4pkXx https://t.co/vGo9nPuBfQ
  • ...that said, I like volatility; so by all means, bring in a person that gets these markets rocking and rolling again
  • Saying Powell is a dangerous man is disingenuous. The Fed has done very well with its dual mandate and their efforts to steady the markets for Main and Wall Street has further fed the financial bubbles we continue to blow. $VIX https://t.co/7ZM2V5ycrz
  • Fed's Powell: The Fed will not be able to shield financial markets and the economy from the fallout of a US default $USD $ES_F $SPX
  • ...also worth noting, this is the Cable's biggest dive (-1.15% at present) since Sep 10, 2020
  • While EURUSD is still holding the floor on its nearly year-long range, $GBPUSD looks like it is making a play for its head-and-shoulders 'neckline' break with this 1.3600 break https://t.co/Sp8YvWxSk4
  • With the charge in Treasury yields after the debt ceiling warning today, I'm going to move the likes of $TLT (the iShares 20+ year Treasury ETF) closer to the top of my watch list. Let's see where volume ends up today https://t.co/IbsDvIUTgr
  • https://t.co/rNvZUCFcvN https://t.co/nXu53ieBxN
  • AUD/USD appears to be stuck in a narrow range following the kneejerk reaction to the Federal Reserve interest rate decision. Get your $AUDUSD market update from @DavidJSong here:https://t.co/ghunsAUjzJ https://t.co/mTNZ7KeLWl
Crude Oil Remains Well Supported at Breakout Level

Crude Oil Remains Well Supported at Breakout Level

Jamie Saettele, CMT, Sr. Technical Strategist

Daily (Log Scale)

Crude Oil Remains Well Supported at Breakout Level

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Some much needed back and fill is taking place at the trendline that originates from the May 2015 high. More importantly, the June and October highs are being tested. A decisive break higher would complete a 16 month inverse head and shoulders pattern. The right shoulder has formed as a symmetrical triangle. A great deal of potential exists from the combination of patterns. The inverse head and shoulders objective would be 75.72.

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

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