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  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: US 500: 0.39% Wall Street: 0.06% Germany 30: -0.21% France 40: -0.23% FTSE 100: -1.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/LEp8Xu4W5K
  • Pullback has the 14000 level in focus as support. Support is important for short-term outlook. Get your $GBP market update from @PaulRobinsonFX here:https://t.co/rPEgnVP7lY https://t.co/2b11tg6ZDV
  • there's that 1.4000 level again $GBPUSD multiple resistance inflections on the way up. first support test at this spot since the breakout https://t.co/qpsq0NqMvN https://t.co/snZCBwNrby
  • $USD made it a quick trip up to fibo resistance looked at in yday's webinar ~90.82 https://t.co/gedHWHfyKN https://t.co/ICAUcMaHYT
  • This is a pair flying under the radar but registering an extreme. $CADJPY weekly has difference between spot and 50-week moving average at +9.5%. Momentum past three weeks not only aggressive, the move has pushed it to 50% of 2014-2020 and 38.2% Fib of historical range https://t.co/yQJ15UpOTG
  • 🇺🇸 Initial Jobless Claims (08/MAY) Actual: 473K Expected: 490K Previous: 566K https://www.dailyfx.com/economic-calendar#2021-05-13
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  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.48%, while traders in GBP/JPY are at opposite extremes with 68.51%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ebZHqitIAd
US Dollar – Resistance Stretches to 96.80s

US Dollar – Resistance Stretches to 96.80s

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

US Dollar – Resistance Stretches to 96.80s

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The clearest section of recent DXY price action is the 3 wave rally from the May low. That alone suggests that the path of least resistance is lower. Of course, weakness from the July high isn’t impulsive either (but could be motive), which leaves the wave picture unclear. Pay attention to the rising trendline just below price. Weakness below would be the best signal yet that a breakdown is underway. Downward slope is defined by the December-January trendline and also serves as the bearish invalidation level.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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

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