The USDCAD has a longer term inverted head and shoulder’s pattern in play.
The USDCAD will apparently close the week below the 200DMA.
The USD (DXY) has been range bound for months, and mostly this is a product of many cross currents in the markets. Equity market volatility, weakness of fundamental data globally stating to seep in, the FOMC looking to be at the end of their hike cycle, China and US trade war brewing, and the list […]
Both popular precious metals (gold and silver) posted key reversal days today.
The USDCAD rallied to new highs for 2018 as crude oil pushed below the $47 level today.
The CADJPY held key support today. This was horizontal support and also trend line support spawning back from 2016 as well.
The CADJPY has been range bound for about the last 30+ trading days, but broke lower out of the range today.