Commodity Prices

Gold •761 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,669.60	+43.30	+2.66%
WTI Crude •11 mins	81.59	+1.25	+1.56%
Gasoline •11 mins	2.982	+0.015	+0.52%
Ethanol •761 days	2.161	+0.000	+0.00%
Silver •761 days	30.82	+1.16	+3.92%

Silver • 761 days	30.82	+1.16	+3.92%
Copper • 761 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	85.56	+1.79	+2.14%
Natural Gas • 11 mins	2.752	-0.029	-1.04%
Heating Oil • 11 mins	3.860	-0.017	-0.43%

Headlines

1,146 days Will The ECB Continue To Hike Rates?
1,146 days Forbes: Aramco Remains Largest Company In The Middle East
1,148 days Caltech Scientists Succesfully Beam Back Solar Power From Space
1,548 days Could Crypto Overtake Traditional Investment?
1,553 days Americans Still Quitting Jobs At Record Pace
1,555 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
1,558 days Is The Dollar Too Strong?
1,558 days Big Tech Disappoints Investors on Earnings Calls
1,559 days Fear And Celebration On Twitter as Musk Takes The Reins
1,560 days China Is Quietly Trying To Distance Itself From Russia
1,561 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
1,565 days Crypto Investors Won Big In 2021
1,565 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
1,566 days Food Prices Are Skyrocketing As Putin’s War Persists
1,568 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
1,569 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
1,572 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
1,573 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
1,573 days Two ETFs That Could Hedge Against Extreme Market Volatility
1,575 days Are NFTs About To Take Over Gaming?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

The Biggest Challenge Facing West Africa's Single Currency Plan

The Economic Community of West…

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

More Info

Contact Author

USD/CAD Gains Capped Beneath Key Resistance At 1.0284

By - May 30, 2012, 5:42 AM CDT

USD/CADâ€™s latest bullish breakout is failing into key resistance at 1.0284. The move is also showing signs of price exhaustion after retracing over 76.4% of the YTD decline, following the breakout above its 200-day average and multi-month triangle pattern (see daily chart).

While we could see some corrective downside to unwind the latest surge higher, a successful charge above 1.0284 would help resume the larger cycle recovery higher into 1.0424 (14th December high).

Meanwhile, only a decisive break back beneath 0.9960 and 0.9776 would reinstate the multi-month downtrend into next support at 0.9726.

EUR/CAD, which shares a high correlation with EUR/USD has snapped back lower, following a false upside break. However, the rateâ€™s price performance is lagging behind as it has yet to trigger a new 2012 low. Watch key support at 1.2784 (16th May low).

Daily Technical Report