Commodity Prices

Gold •142 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	975.10	+4.60	+0.47%
WTI Crude •9 hours	71.24	+1.14	+1.63%
Gasoline •9 hours	2.061	+0.002	+0.10%
Ethanol •142 days	2.161	+0.000	+0.00%
Silver •142 days	30.82	+1.16	+3.92%

Silver • 142 days	30.82	+1.16	+3.92%
Copper • 142 days	4.530	+0.111	+2.51%
Brent Crude • 8 hours	75.17	+0.94	+1.27%
Natural Gas • 9 hours	3.129	-0.210	-6.29%
Heating Oil • 9 hours	2.275	+0.001	+0.02%

Headlines

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

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

Wells Fargo Back In The Spotlight Over Personal Loan Cancellations

Wells Fargo has done it…

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: Temporary Bounce

By - Feb 21, 2012, 5:26 AM CST

USD/CAD is finding some support around the 0.9926 swing low posted on 9th February after the breakdown from 1.0052 which completed a bull trap.

Short-term risk is seen to the downside and while 0.9983/1.0052 caps the risk is seen for sustained loss of 0.9928, a move which should then see an extension of the recent downtrend towards reaction lows at 0.9892 then 0.9766 as the bear run resumes following bearish resolution to a triangle.

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 working higher having based ahead of psychological 1.3000. The rate remains within a trading range, with upside resolution to target broken support at 1.3394.

Daily Technical Report