Commodity Prices

Gold •604 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	2,373.50	+133.90	+5.98%
WTI Crude •16 hours	67.02	+1.81	+2.78%
Gasoline •16 hours	2.078	+0.046	+2.24%
Ethanol •604 days	2.161	+0.000	+0.00%
Silver •604 days	30.82	+1.16	+3.92%

Silver • 604 days	30.82	+1.16	+3.92%
Copper • 604 days	4.530	+0.111	+2.51%
Brent Crude • 15 hours	72.87	+2.03	+2.87%
Natural Gas • 16 hours	2.859	+0.032	+1.13%
Heating Oil • 16 hours	2.671	+0.058	+2.24%

Headlines

989 days Will The ECB Continue To Hike Rates?
989 days Forbes: Aramco Remains Largest Company In The Middle East
991 days Caltech Scientists Succesfully Beam Back Solar Power From Space
1,391 days Could Crypto Overtake Traditional Investment?
1,396 days Americans Still Quitting Jobs At Record Pace
1,398 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
1,401 days Is The Dollar Too Strong?
1,401 days Big Tech Disappoints Investors on Earnings Calls
1,402 days Fear And Celebration On Twitter as Musk Takes The Reins
1,404 days China Is Quietly Trying To Distance Itself From Russia
1,404 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
1,408 days Crypto Investors Won Big In 2021
1,408 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
1,409 days Food Prices Are Skyrocketing As Putin’s War Persists
1,411 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
1,412 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
1,415 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
1,416 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
1,416 days Two ETFs That Could Hedge Against Extreme Market Volatility
1,418 days Are NFTs About To Take Over Gaming?

The Biggest Challenge Facing West Africa's Single Currency Plan

The Economic Community of West…

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Is The Bull Market On Its Last Legs?

This aging bull market may…

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: Upside Failure

By - Feb 17, 2012, 5:56 AM CST

USD/CAD has reversed sharply from 1.0052 after bulls failed to sustain the upside break of resistance at 1.0039, completing a bull trap.

Immediate risk switches to the downside as the rebound from the 0.9928 is looking decidedly corrective, and while 1.0052 caps the risk is seen for a crack at 0.9928, loss of which could then see an extension of the recent downtrend towards reaction lows at 0.9892 then 0.9766.

We would need to see re-capture of 1.0052 from here to suggest basing potential, with scope then for a push towards minor resistance at 1.0163 then 1.0250 in a more bullish multi-week scenario

EUR/CAD, which tends to share a positive correlation with EUR/USD, is still holding steady after the recent setback. The rate remains within a neutral trading range while beneath 1.3252. A downside resolution would target support at 1.2999 and 1.2760 (10th Jan 2010).

Daily Technical Report