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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessUSDCAD Rising Wedge - USDCAD is.......>
DOLLAR-CANADA: USDCAD Rising Wedge
- USDCAD is forming a rising wedge, which is a bearish reversal pattern.
- Commodity tied FX has improved with firmer oil prices on extended react to
yesterday's Mnuchin 'removing steel and aluminium tariff' comments.
- A break of 1.3374 is required for confirmation, opening the 38.2% retracement
of the Jan - Apr rise & 100-dma at 1.3348/39.
- CAD crosses are also reaching some pivotal levels. EURCAD closed below the 100
& 200-dma yesterday with focus on the 1.4980/00 area which has registered a
series of previous lows.
- AUDCAD cleared 0.9300 for the first time since the Jan 3 flash crash lows.
- The recent bearish MA crossover (50-dma below 100-dma) in NZDCAD has formed
double-bottom support at 0.8793/98.
https://emedia.marketnews.com/marketnewsintl/USDCAD.png
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.