Commodity Prices

Gold •439 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,410.60	-6.60	-0.47%
WTI Crude •11 mins	64.26	+0.96	+1.52%
Gasoline •11 mins	2.028	+0.015	+0.74%
Ethanol •439 days	2.161	+0.000	+0.00%
Silver •439 days	30.82	+1.16	+3.92%

Silver • 439 days	30.82	+1.16	+3.92%
Copper • 439 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	68.17	+0.73	+1.08%
Natural Gas • 11 mins	3.049	+0.006	+0.20%
Heating Oil • 11 mins	2.374	+0.043	+1.84%

Headlines

824 days Will The ECB Continue To Hike Rates?
824 days Forbes: Aramco Remains Largest Company In The Middle East
826 days Caltech Scientists Succesfully Beam Back Solar Power From Space
1,226 days Could Crypto Overtake Traditional Investment?
1,231 days Americans Still Quitting Jobs At Record Pace
1,233 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
1,236 days Is The Dollar Too Strong?
1,236 days Big Tech Disappoints Investors on Earnings Calls
1,237 days Fear And Celebration On Twitter as Musk Takes The Reins
1,239 days China Is Quietly Trying To Distance Itself From Russia
1,239 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
1,243 days Crypto Investors Won Big In 2021
1,243 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
1,244 days Food Prices Are Skyrocketing As Putin’s War Persists
1,246 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
1,247 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
1,250 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
1,251 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
1,251 days Two ETFs That Could Hedge Against Extreme Market Volatility
1,253 days Are NFTs About To Take Over Gaming?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Is The Bull Market On Its Last Legs?

This aging bull market may…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

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