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Copper, EUR/USD – Dollar the main driver, WTI upside

“Market buys the dovish Yellen story”, says Craig Erlam, Senior Market Analyst, Oanda, as he joins the Tip TV Finance Show to discuss the technical outlook for Copper, EUR/USD, and WTI Oil. Interviewed by Zak Mir, Technical Analyst at ZaksTradersCafe, and Mike Ingram, Strategist at BGC Partners.
Key Points:

Copper – Dollar driven break in Copper. Currently below the key 220 level. Re-establishing a new range perhaps.
EUR/USD – Dollar the main driver here. Stabilising around 1.12-1.1150 level. Yellen gave a big hint of US policy which led to dollar weakness. The cross looks more bullish in the short-term, and 1.14-1.15 is a realistic possibility.

WTI – Fundamentals don’t agree with the technicals. More upside likely from a technical perspective. Short-to-medium term upside before topping is seen.


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