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  • The gold price rebound keeps XAU/USD within the confines of the August downtrend. From a trading standpoint. Get your $XAUUSD market update from @MBForex here:https://t.co/B3Jct6mIBD https://t.co/gHAtO2jcrp
  • Gold recovered from a steep sell-off this morning to finish the day just lightly lower $XAU $USD https://t.co/lkcyL8gts9
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.05% 🇨🇭CHF: 0.01% 🇯🇵JPY: -0.25% 🇳🇿NZD: -0.55% 🇦🇺AUD: -0.64% 🇨🇦CAD: -0.75% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/UVTYrLMwRS
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.54% Gold: -0.87% Silver: -1.82% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/3BoduI6beG
  • Earnings season is underway and key tech leaders are set to report next week. Get your #Dowjones market update from @PeterHanksFX here:https://t.co/vAesS48lgG https://t.co/es8tChHx3y
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in Wall Street are at opposite extremes with 66.20%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/cFre7YkQsc
  • The heaviest concentration for potential market volatility in scheduled events next week seems to me to be Tuesday-Wednesday: https://t.co/DyDASx24zL
  • EUR/USD slightly stronger, still trading below ECB's "key" 1.22 level $EUR $USD https://t.co/M7vGf4BWQI
  • Next week's economic docket includes (among many things): 4Q US and European GDP figures; the FOMC rate decision and the IMF's 2021 world economic outlook. But given this market, would be surprised if Tesla earnings (Wed after the close) didn't rouse the most attention/impact
  • Indices Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.12% FTSE 100: 0.08% France 40: 0.08% Wall Street: 0.00% US 500: -0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/hRkA9W16rB
USD/CAD Attempting to Break out of 8+ Week Triangle

USD/CAD Attempting to Break out of 8+ Week Triangle

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USD/CAD Attempting to Break out of 8+ Week Triangle

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-“The May low in USD/CAD is at (exactly) former channel resistance but the recent high is also at a well-defined level. Hmmm…strong support and strong resistance…sounds like conditions for a range period. Price action within a range is often indecipherable from an Elliott standpoint given the myriad pattern possibilities.” A head and shoulders top since the September 2015 high is possible. The right shoulder may be forming a triangle. A break above the triangle would negate the broad topping possibility.

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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