The market looks likely to get a little bit of a short-term pullback.
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At this point, it is very possible that the market is due for a short-term pullback.
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It certainly looks like we are trying to build up enough pressure to break out of an ascending triangle.
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The US dollar fell during the month of May against the Indian rupee, which should not be a huge surprise, as we have seen the US dollar fall in general.
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The S&P 500 has been a bit choppy during the month of May, but as we head into June, it looks as if we are going to try to take off to the upside.
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Start the week of May 31, 2021 with our Forex forecast focusing on major currency pairs here.
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The DAX has pulled back just a bit during the course of the trading session on Thursday but found buyers underneath to pick up pieces of momentum.
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Bitcoin continues to sit just above the 200 day EMA, as we are looking at the 40,000 level through the prism of resistance.
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The S&P 500 has initially pulled back during the trading session on Thursday but found enough interest in the market to turn things around and send it back above the 4200 level.
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The FTSE 100 has gone back and forth during the course of the trading session on Thursday as we are sitting just above the 7000 handle.
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The NASDAQ 100 has pulled back just a bit during the course of the trading session on Thursday as we continue to sit still near the 13,700 level.
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The Euro has initially broken down below the 1.22 handle during the trading session on Thursday but turned around to show signs of life again.
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The British pound has rallied during the trading session on Thursday to reach towards 1.42 handle, in a sign that perhaps the pressure is starting to mount or a move to the upside.
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The Australian dollar simply sits at the 50 day EMA yet again during the trading session on Thursday, in a move that will put people to sleep if they pay too much of their attention to it.
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The West Texas Intermediate Crude Oil market has pulled back a bit to kick off the trading session on Thursday before shooting straight up in the air to try to break out
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