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  • The US Dollar is continuing to strength today. The $DXY has risen above the 90.80 level to its highest point since last Wednesday. $USD https://t.co/OFWBlH3loM
  • quite the reversal in commod currencies over the past two days. $USDCAD from falling wedge support to resistance. this tl held a number of inflections earlier this month, now being tested through https://t.co/O2zqFkYz9Y https://t.co/Rljf0c6JE3
  • $USDCHF rose to trading above the 0.9100 level for the first time since November. $USD $CHF https://t.co/afJSa3Ap5h
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.86%, while traders in GBP/JPY are at opposite extremes with 67.99%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/7CenEe3hcL
  • Hey traders! Wrap up your week with a quick market update from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/9Sfqv1U0TJ
  • Commodities Update: As of 17:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -2.02% Gold: -2.70% Silver: -4.40% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/pOc7rwbN4x
  • Forex Update: As of 17:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.41% 🇬🇧GBP: -0.45% 🇨🇭CHF: -0.51% 🇨🇦CAD: -0.76% 🇳🇿NZD: -1.57% 🇦🇺AUD: -1.85% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/wtEBvYAAG2
  • A pullback off confluence uptrend support threatens a larger pullback here but keeps the broader trade constructive while within this formation. Get your $btc market update from @MBForex here:https://t.co/ScHuboiZRB https://t.co/gNiGelWKTM
  • Indices Update: As of 17:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.49% France 40: 0.47% Germany 30: 0.45% US 500: 0.28% Wall Street: -0.69% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/4LwfSsKX6u
  • ECB's Visco: - Extreme prudence must be used before exiting support measures - Must wait for a substantial recovery before getting out of easy money conditions #ECB $EUR
Video: The Most Extensive Reversals Rarely Happen Instantaneously

Video: The Most Extensive Reversals Rarely Happen Instantaneously

John Kicklighter, Chief Strategist

Talking Points:

• Traders are drawn to reversals as they encompass fast moving markets with potentially large risk-reward ratios

• Major reversal happen infrequently and the most productive of them take time to develop

• While 'V' bottom and top reversals may look attractive, deliberate and gradual turns offer better conditions

Find help with your trades and trading strategy from DailyFX analysts with DailyFX on Demand.

Is the S&P 500 carving out a reversal? to most, a reversal is a flip in the market that happens abruptly and rockets in the opposite direction of the prevailing trend. Such patterns - when found - are seen as the ideal trading setup. Such a turn theoretically offers exaggerated risk-reward and unfolds rapidly. That translates into an attractive setup and quick returns. Yet, major turns seldom occur. The type of reversals that are termed'V-bottoms' or 'V-tops' because of a rapid switch in direction with a comparable momentum are even rarer. Not only are those developments unusual, but they are exceptionally difficult to catch and they quickly fizzle out. In contrast, a gradual turn after a period of consolidation offers plenty of warning, clearer levels and more substantial follow through. We discuss the two types of turns we see in markets and weigh in on whether the S&P 500 is looking at such a shift in today's Strategy Video.

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