In today’s market review for February 3rd, we analyze the developing correction across the markets. The US Dollar is bouncing back, triggering pullbacks in major currency pairs.
We discuss the successful breakdown of the "Wedge" pattern in Gold and the search for new selling opportunities. A major focus is on USD/CAD, where the "Idea of the Year" played out perfectly, taking out 2024 lows. We also look at the "Weekly Absorption" buy signal for the Australian Dollar, the bearish trend in Bitcoin (trading below $90k), and Oil's push toward $66.
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