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  • USD/MXN has continued to rip in 2021, flying in the face of the bearish trend from 2020. Get your $USDMXN market update from @JStanleyFX here:https://t.co/uePriXERH8 https://t.co/qRjLbgglov
  • $USDMXN strong breakout from the falling wedges that had built coming into this year. Prices now finding resistance at 50% marker of the 2017-2020 major move whether looking for usd strength or weakness, there's attractive items on $USDMXN for either https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2021/03/08/Mexican-Peso-Price-Forecast-MXN-USDMXN-USD-MXN-Breakout-to-Fibonacci-Resistance.html https://t.co/7TwqgZDXfH https://t.co/ocsiEw3IwC
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.37%, while traders in Germany 30 are at opposite extremes with 81.20%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/2V8w40M0zN
  • Commodities Update: As of 17:00, these are your best and worst performers based on the London trading schedule: Silver: -0.10% Gold: -1.18% Oil - US Crude: -1.45% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/710wPcmn9S
  • Lord Frost accuses the EU of ‘ill will’ as Brexit row rumbles on. @bankofengland governor Andrew Bailey gives his latest thoughts on the economy. Get your market update from @nickcawley1 here:https://t.co/Z4gAzLjtjx https://t.co/MyIHkCORSH
  • Forex Update: As of 17:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: -0.09% 🇬🇧GBP: -0.14% 🇦🇺AUD: -0.30% 🇨🇭CHF: -0.51% 🇳🇿NZD: -0.51% 🇪🇺EUR: -0.52% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/djHLmI2sna
  • $WTI Crude Oil opened strongly today, rising to test the 68.00 level, its highest point since October of 2018. WTI then bounced off resistance at this level and is now trading lower, back near the 65.00 level. $OIL $USO https://t.co/ZycSRqlIHL
  • Equities continue to struggle as bond yields focus on Central Bank policy actions. DAX 30 finds support in the long-term ascending trendline. Get your #DAX market update from @HathornSabin here:https://t.co/ydhxFrQ60j https://t.co/MFvOGWkLi9
  • $GBPUSD is consolidating around the 1.3800 - 1.3850 level today, around a nearly one-month low. The pair hit a fresh multi-year high in late February before falling lower amidst a resurgence in USD strength as yields continue higher. $GBP $USD https://t.co/i6g0gEq6jA
  • US 10yr Treasury Yields are consolidating right around the 1.60% level today, trading around their highs of the pandemic. $USD https://t.co/9FrulBqqsC
Technical Trade Levels: US Dollar, EUR/USD, USD/CAD, S&P, Gold & Oil

Technical Trade Levels: US Dollar, EUR/USD, USD/CAD, S&P, Gold & Oil

Michael Boutros, Strategist

Weekly Technical Trade Levels on USD Majors / Commodities

Coronavirus Sell-off Compounded by Oil Price War – USD Majors Extend into Key Technical Levels

The Coronavirus sell-off continues into the weekly open with the major indices in free-fall after a breakdown in OPEC negotiations fueled a massive route in oil prices. Crude was down more than 50% ahead of the US open with the S&P 500 breaking below support to fresh 2020 lows- key support for the index is eyed at the 61.8% retracement of the December 2018 advance at 2740- watch the close with respect to this threshold with the immediate short-bias vulnerable while above. Gold rallied to fresh highs but continues to respect longer-term uptrend resistance – high risk for exhaustion across the board. In this webinar, we review the updated technical trade setups on DXY, EUR/USD, USD/CAD, GBP/USD, Gold(XAU/USD), Crude Oil, USD/CHF, S&P 500 (SPX500), AUD/USD and NZD/USD.

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Mar 10
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Key Event Risk This Week

Key Event Risk This Week - Economic Calendar - Data Releases

Economic Calendar - latest economic development and upcoming event risk

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---Written by Michael Boutros, Currency Strategist with DailyFX

Follow Michael on Twitter @MBForex

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

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