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  • $EURUSD is looking to close above the 20-day moving average for the first time in 36 trading days. This would end the longest bearish leg (by definition of spot above/below 20 SMA) since Nov 16, 2018 https://t.co/CM9PhSi7RN
  • USD/CAD struggles to push back above the 200-Day SMA (1.2608) as it tracks the range-bound price action carried over from the previous week. Get your market update from @DavidJSong here:https://t.co/VZBKpusKx1 https://t.co/GSZTNOfuOm
  • Despite the formation of a "death cross" EUR/USD continues higher, trading back above 1.1830 $EURUSD #Forex #Trading https://t.co/J9Z4psFoim
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.60%, while traders in Wall Street are at opposite extremes with 70.50%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/BXjltzFs4r
  • In case you missed it... I discuss considerations for playing gold and silver price pullbacks as potentially attractive opportunities in the article below. Link - https://www.dailyfx.com/forex/fundamental/forecast/monthly/title/2021/07/02/gold-silver-price-pullback-could-provide-attractive-opportunities-in-q3.html https://t.co/XFd16WGsKN
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Gold: 0.12% Oil - US Crude: -0.90% Silver: -2.46% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/shWd9TLjur
  • As risk-assets decline, the $VIX moves back above 20 ahead of tomorrow's Fed rate decision $VIX $VVIX $VXX https://t.co/tWlI7CJivw
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.70% 🇬🇧GBP: 0.48% 🇨🇭CHF: 0.24% 🇨🇦CAD: -0.30% 🇦🇺AUD: -0.33% 🇳🇿NZD: -0.63% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/a0R3xYzRkN
  • Please join @JStanleyFX at 13:00 EST/17:00 GMT for a webinar on trading price action. Register here: https://t.co/O5PPiQGoSU https://t.co/eud8xFHPuK
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: France 40: 0.11% Germany 30: 0.01% FTSE 100: -0.03% Wall Street: -0.44% US 500: -0.77% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/gbdFQOxMsA
Should We Expect Trends, Range, Volatility Conditions Next Week?

Should We Expect Trends, Range, Volatility Conditions Next Week?

John Kicklighter, Chief Strategist

Talking Points:

• Establishing general market conditions is crucial for choosing the correction strategy for trading the market

• Last week, ideal conditions for range and slow swings switched to volatility and breakouts on event risk

• A crowded calendar of crucial event risk ahead will lead to hesitant volatility and potential major trends

Want to develop a more in-depth knowledge on the market and strategies? Check out the DailyFX Trading Guides we have produced on a range of topics.

Market conditions took a hard right turn this past week, and we should expect the same bipolar nature in the forthcoming period. Combining market activity, the prominence of technical boundaries, known event risk and an appreciation of key fundamental themes; we can establish a general appreciation of what 'type' of market we are heading into. In turn, we can use that information to better filter our trade approach. Sometimes those circumstances change though. This past week, lower volatility, a dearth of high-profile event risk and anchoring on major trends lowered the probability of major breaks and trends. Yet, the combination of ECB QE talk leading into remarkable earnings, a PBoC rate cut and strong data aligned views to mark a strong trend. Looking ahead, we have a loaded economic docket (Fed, GDP, China growth planning and more) and a market already on a limb with volatility. How should this shape our trading approach? We discuss that in this weekend's Strategy Video.

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

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