Commodity Prices

Gold •144 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	959.70	-15.40	-1.58%
WTI Crude •10 mins	70.80	-0.44	-0.62%
Gasoline •13 mins	2.046	-0.016	-0.77%
Ethanol •144 days	2.161	+0.000	+0.00%
Silver •144 days	30.82	+1.16	+3.92%

Silver • 144 days	30.82	+1.16	+3.92%
Copper • 144 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	74.72	-0.45	-0.60%
Natural Gas • 10 mins	3.380	+0.251	+8.02%
Heating Oil • 12 mins	2.277	+0.002	+0.08%

Headlines

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

Wells Fargo Back In The Spotlight Over Personal Loan Cancellations

Wells Fargo has done it…

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…

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