Commodity Prices

Gold •485 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,575.40	-38.90	-2.41%
WTI Crude •10 hours	60.98	+0.41	+0.68%
Gasoline •10 hours	1.901	+0.008	+0.43%
Ethanol •485 days	2.161	+0.000	+0.00%
Silver •485 days	30.82	+1.16	+3.92%

Silver • 485 days	30.82	+1.16	+3.92%
Copper • 485 days	4.530	+0.111	+2.51%
Brent Crude • 9 hours	64.77	+0.40	+0.62%
Natural Gas • 10 hours	4.124	+0.168	+4.25%
Heating Oil • 10 hours	2.399	-0.011	-0.44%

Headlines

870 days Will The ECB Continue To Hike Rates?
870 days Forbes: Aramco Remains Largest Company In The Middle East
872 days Caltech Scientists Succesfully Beam Back Solar Power From Space
1,272 days Could Crypto Overtake Traditional Investment?
1,276 days Americans Still Quitting Jobs At Record Pace
1,278 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
1,281 days Is The Dollar Too Strong?
1,282 days Big Tech Disappoints Investors on Earnings Calls
1,283 days Fear And Celebration On Twitter as Musk Takes The Reins
1,284 days China Is Quietly Trying To Distance Itself From Russia
1,285 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
1,289 days Crypto Investors Won Big In 2021
1,289 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
1,290 days Food Prices Are Skyrocketing As Putin’s War Persists
1,292 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
1,292 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
1,296 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
1,296 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
1,296 days Two ETFs That Could Hedge Against Extreme Market Volatility
1,299 days Are NFTs About To Take Over Gaming?

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…

The Biggest Challenge Facing West Africa's Single Currency Plan

The Economic Community of West…

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: Potential For a Swing Lower to 1.0500

By - Jan 03, 2014, 6:13 AM CST

USD/CAD continues to meet strong resistance close to the 1.0700 region, threatening a longterm break under the support of the rising channel which has been in place for the last three months. Combined with substantial long speculative positioning, there is scope for a squeeze lower. Should this occur, support would be anticipated close to the 1.0500 region.

Longer term, the strong resistance at 1.0870 (02/11/2009 high, see also the long-term declining trendline from the October 2002 peak) continues to represent a major hurdle. Therefore, a break of this level is needed to call for further long-term strength.

Daily Technical Report