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  • Oil - US Crude IG Client Sentiment: Our data shows traders are now net-long Oil - US Crude for the first time since Jun 15, 2021 12:00 GMT when Oil - US Crude traded near 7,250.20. A contrarian view of crowd sentiment points to Oil - US Crude weakness. https://www.dailyfx.com/sentiment https://t.co/mzZUUDjqh7
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USDOLLAR Possible Reaction Line Just above 2013 High

USDOLLAR Possible Reaction Line Just above 2013 High

Jamie Saettele, CMT, Sr. Technical Strategist

Weekly

USDOLLAR Possible Reaction Line Just above 2013 High

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-“After flirting with the line that extends off of the 2011 and 2012 lows for 3 weeks, the USDOLLAR found legs. The bullish outside month in July is a good way for long term USD strength to resume.”

-A double bottom with the October 2013 and July 2014 lows in USDOLLAR was confirmed on the push above 10756. The pattern’s objective is 11142 but extreme momentum and sentiment does give scope to a period of weakness in order to reset the market for its next advance. Estimated support is 10815. A longer term target zone is 11324/52.

--Trading ideasare available to J.S. Trade Desk members.

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