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  • Today's -3% drop is the biggest slide for crude oil since August 4th, but it doesn't turn the technical trend for the commodity at least until the 20-day SMA gives way. $CL_F https://t.co/UKBKX45Z1F
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  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.01% Germany 30: -0.13% France 40: -0.22% US 500: -0.44% Wall Street: -0.70% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/iLp3nl078Y
  • #Sterling Technical Forecast: $GBPUSD Coils at 52-Week Moving Average - https://www.dailyfx.com/forex/technical/home/analysis/gbp-usd/2021/10/27/Sterling-Technical-Forecast-GBP-USD-Coils-at-52-Week-Moving-Average-British-Pound-Outlook-MBTS10.html https://t.co/HMF0AqA1Q8
  • The BOC's rate decision today proved as hawkish as forecasts insinuate. Most interesting pair for this was $GBPCAD where it is hawkish expectation vs hawkish expectation https://t.co/yh3fDNYiKZ
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  • USD strength present throughout the NY session, but the US Dollar Index continues to find stiff resistance at the 94 level $USD $DXY https://t.co/nZFjtFbG4O
  • Euro is down more than 0.2% against the US Dollar since the start of the week with EUR/USD trading just above support heading into the European Central Bank interest rate decision tomorrow. Get your $EURUSD market update from @MBForex here:https://t.co/a9tikztYFj https://t.co/uztfGSoYvW
  • Nasdaq 100 is not sure whether it wants to close at a record high, but the NDX-SPX ratio has jumped sharply today on the tech index's 0.9% rally https://t.co/fUMvv9mtZ8
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Gold: 0.33% Silver: 0.05% Oil - US Crude: -0.05% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/1qRqMHuB6V
US Dollar Might Finally Turn the Corner as Trader Positions Hit Extremes

US Dollar Might Finally Turn the Corner as Trader Positions Hit Extremes

David Rodriguez, Head of Product

- Dollar declines seem overdone as forex trading crowd sentiment at extremes

- We’re watching key price levels across USD pairs that could confirm

- The Sterling looks especially at risk as positions stretched across the board

Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.

View individual currency sections:

EURUSD - Euro Remains at Risk as Dollar May Bounce

GBPUSD - British Pound at Major Extremes - Key Warning

USDJPY - Dollar May have Turned the Corner versus Yen

AUDUSD - Australian Dollar May Have Set Important Top

GOLD - Gold Prices Could Continue Higher

GBPJPY - British Pound Sterling at Extremes versus Japanese Yen

Weekly Summary of Forex Trader Sentiment and Changes in Positioning

US Dollar Might Finally Turn the Corner as Trader Positions Hit Extremes

The US Dollar may finally turn the corner versus the Euro, Sterling, and Japanese Yen. Here are the factors and price levels we’re watching.

See specific US Dollar forecasts in the sections above, and sign up for future e-mail updates via this author’s e-mail distribution list.

US Dollar Might Finally Turn the Corner as Trader Positions Hit ExtremesUS Dollar Might Finally Turn the Corner as Trader Positions Hit Extremes

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--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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

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