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Copper Futures: A bounce remains on the table

Traders scaled back their open interest positions in Copper futures markets for yet another session on Friday, this time by nearly 4.4K contracts. On the other direction, volume advanced for the second session in a row, this time by around 3.6K contracts.

Copper is trying to find a bottom

Prices of the base metal extended the drop on Friday. The persistent decline in open interest amidst negative price action suggests the pullback in prices is expected to lose some impetus in the short-term horizon. However, and in light of the unabated downside, it is worth noting that there are no relevant support levels until November 2016 low in sub-2.20 levels.

EUR/USD: Faced rejection near the 1.1200 round-figure mark

EUR/USD remained depressed on Friday and retested weekly lows, near the 1.1055 area. Haresh Menghani, an analyst at FXStreet, takes a look at the pair
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GBP/USD: Near-term consolidation before depreciation move

Last week’s downfall below the very important 200-day SMA might have already confirmed a near-term bearish bias on the GBP/USD pair, according to Hare
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