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  • #Gold has slipped to its lowest level since Tuesday today. After meeting resistance around 1,795 this morning, the precious metal fell back to trade near the 1,770 level. $XAU $GLD https://t.co/tOiSk0n6t5
  • Biden’s proposed tax hike sees investors unload profitable assets. Bitcoin intensifies losses, falls below $50,000. Get your $btc market update from @Daniela here:https://t.co/pkHFvFotbz https://t.co/1R7T4HpfQX
  • With the US data beating expectations, we have all of the major developed world economies reporting April PMIs with a significant improvement in economic activity for the current month. Seems only black swans and regulations can stop the train now... https://t.co/HpOW5ul5YW
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.92% Gold: -0.24% Silver: -0.29% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/ck2iRms5Hp
  • Heads Up:💶 ECB President Lagarde Speech due at 14:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-04-23
  • $EURUSD is currently trading back above the 1.2060 level today, around its highest point since early March. This is the third time of the week that the pair has tested the 1.2060 level. $EUR $USD https://t.co/HUbjgKOhCR
  • 🇺🇸 New Home Sales MoM (MAR) Actual: 20.7% Expected: 12% Previous: -16.2% https://www.dailyfx.com/economic-calendar#2021-04-23
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.38%, while traders in US 500 are at opposite extremes with 66.76%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/3GlR9tqywl
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.44% Silver: 0.44% Gold: 0.16% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/XSXYSS6tMi
  • 🇺🇸 Markit Manufacturing PMI Flash (APR) Actual: 60.6 Expected: 60.5 Previous: 59.1 https://www.dailyfx.com/economic-calendar#2021-04-23
USD/CAD Unimpressed with Other Commodity FX Moves

USD/CAD Unimpressed with Other Commodity FX Moves

Jamie Saettele, CMT, Sr. Technical Strategist

Weekly

eliottWaves_usd-cad_body_usdcad.png, USD/CAD Unimpressed with Other Commodity FX Moves

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Are you new to FX or curious about your trading IQ?

FOREXAnalysis: No change: “The trendline that extends off of the May 2010 and October 2011 highs pinpointed the high last week. Exceeding that high (1.0420) is needed in order to alleviate downside pressures. Until then, I’m inclined to stay with a range bias and look towards the 20 day midpoint at 1.0216. The 5/5 high at 1.0218 reinforces that level as one of interest.”

FOREXTrading Strategy: Flat

LEVELS: 1.0152 1.0216 1.0255 1.0379 1.0420 1.0500

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