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We can see metals moving slightly higher this morning, despite some USD gains seen against the EUR and GBP. Commodity currencies are doing quite well, with a short-term bullish structure on the Aussie and a bearish one on USDCAD. Our focus is still on USDCAD where we see a break beneath the trendline support that can potentially send prices lower into wave five, but after a completion of wave two.


Oil is also very important here, which did not form a bottom yet, but it may occur around 46.50.

Crude oil, 1h