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Mid-Week Technical Outlook: FX & Commodities
A sense of caution gripped financial markets on Wednesday as anxious investors kept a close eye on the US debt ceiling negotiations. Any fresh newsflow on the debt ceiling development is likely to influence sentiment which already remains shaky amid the uncertainty. In the meantime, there have been some interesting movements across the currency and commodity space. Here are some technical setups to keep an eye on this week. The EURUSD is bearish on the daily charts. Prices are trading below the 50-day SMA and have dipped below the 1.0845 support. Sustained weakness below this point could open a path toward 1.0800 – ... (full story)