Commodity Prices

Gold •294 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	978.50	-1.10	-0.11%
WTI Crude •10 mins	62.17	-0.10	-0.16%
Gasoline •10 mins	2.083	-0.001	-0.04%
Ethanol •294 days	2.161	+0.000	+0.00%
Silver •294 days	30.82	+1.16	+3.92%

Silver • 294 days	30.82	+1.16	+3.92%
Copper • 294 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	65.95	-0.17	-0.26%
Natural Gas • 10 mins	2.894	-0.128	-4.24%
Heating Oil • 10 mins	2.125	-0.002	-0.08%

Headlines

679 days Will The ECB Continue To Hike Rates?
679 days Forbes: Aramco Remains Largest Company In The Middle East
681 days Caltech Scientists Succesfully Beam Back Solar Power From Space
1,081 days Could Crypto Overtake Traditional Investment?
1,086 days Americans Still Quitting Jobs At Record Pace
1,088 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
1,091 days Is The Dollar Too Strong?
1,091 days Big Tech Disappoints Investors on Earnings Calls
1,092 days Fear And Celebration On Twitter as Musk Takes The Reins
1,094 days China Is Quietly Trying To Distance Itself From Russia
1,094 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
1,098 days Crypto Investors Won Big In 2021
1,098 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
1,099 days Food Prices Are Skyrocketing As Putin’s War Persists
1,101 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
1,102 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
1,105 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
1,106 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
1,106 days Two ETFs That Could Hedge Against Extreme Market Volatility
1,108 days Are NFTs About To Take Over Gaming?

Strong U.S. Dollar Weighs On Blue Chip Earnings

Earnings season is well underway,…

Wells Fargo Back In The Spotlight Over Personal Loan Cancellations

Wells Fargo has done it…

How Millennials Are Reshaping Real Estate

The real estate market is…

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