The bearish EUR/USD readings are catching pace. Although the larger uptrend is still supported, the risk is that broader USD strength can drive this cross lower in range. As several base metals led the turn lower in risk sentiment last week, our focus is also on copper as it approaches 1+ year trendline support. Along with this, the S&P 500 is on the verge of posting a relatively rare Bearish Reversal week (on a Friday close below 1513).
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Barclays