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Summary

US Dollar had its biggest weekly loss in 13 months, with Cable and EURUSD Key closes on Friday. This week  data calendar is light and none of the releases will be really crucial to the outlook, and therefore the Fed calendar is heavy with Fedspeak and the FOMC minutes. Meanwhile, the markets will be closely following President Trump's first overseas trip as leader of the free world.

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EUR/USD: 200-week MA is a stiff resistance

EUR/USD bulls need a break above the 200-week SMA. The buyers have failed to establish a foothold above the 200-week SMA in five out of the last six weeks. Similar price action was seen in February, following which the pair fell to lows near 1.0630. 

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USD/JPY bears holding their positions below 107 level

Yen remains a safe haven currency of choice as trade wars and the coronavirus play havoc risk apatite. Investors pin hopes on Gilead Sciences reporting that its antiviral drug Remdesivir recorded positive results in clinical trials.

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GBP/USD: Prints rising wedge on 4-hour chart above 1.2600

GBP/USD drops to 1.2630 amid the early Monday morning in Asia. Even so, the Cable remains positive on a daily basis with around 0.10% gains. Though, a bearish chart pattern, the rising wedge, joins bearish MACD signals, question the bulls.

GBP/USD News

Gold hovers above $1,800 as dollar drops despite lingering coronavirus concerns

Gold rises 0.30% as the dollar index drops 0.20%. The US stock futures rise, keeping the safe-haven US dollar under pressure. The US coronavirus cases tally crosses the 3.3 million mark. 

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WTI: 200-HMA probes bears above $40.00

WTI stays pressured beyond $40.00 despite multiple bounces off 200-HMA. MACD conditions suggest bears rolling up their sleeves for entry. Bulls will have multiple upside barriers beyond $41.00.

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