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Yesterday the USD/CAD had it within its power to push above the previous 2024 high set last week on November 1, at 1.3959. However, in the event it stalled right there again yesterday. The high seen was set at 1.3959 and the drop back delivered a US close at 1.3939. It has fallen back further today and just now it set a session low at 1.3870. So, the failure to climb above 1.3960 again does risk the prospect of a major double top being set in place on the daily charts at exactly 1.3959. That will confirmed, if the US dollar was so fall further and take out the prior interim low seen on Tuesday, at 1.3822. For the time being that is in the balance, but at the same time, the failure to get above 1.3960 is clearly a boost for CAD bulls, as much as it is a disappointment for CAD bears. Tomorrow at 1.30pm GMT we do have some important Canadian data- the latest monthly jobs report and that could decide which camp comes out on top. There will be more to add on that tomorrow morning. Meantime, the USD/CAD is currently trading at 1.3879
Well, you were alerted to something rather strange going on this afternoon in Gold and since then the metal has taken another lurch lower. This time...
The US stock markets have not long reopened for the final trading session of the week. It has been a very modestly higher opening across the board...
Given the reaction in the GBP/USD and the USD/JPY after the US sales data you might easily be forgiven for thinking the EUR/USD should be above 1.05...
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