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USDCAD breaks below 1.1984 and reaches as low as 1.1866 level. Further fall is still possible to test 1.1820 previous low support, below this level will signal deeper decline towards 1.1600 zone. Initial resistance is located at 1.2000, as long as this level holds, we’d expect downtrend to continue.

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Written by Brad Zigler
Monday, 05 January 2009 09:19

Real-time Inflation Indicator (per annum): 10.0%

The overnight market wasn't good to silver. By 7 a.m. Eastern Time, COMEX futures were down more than 3.5% ahead of the London cash market fix. But that shouldn't come as a surprise to metals traders. After all, silver ran the table in the last trading week of 2008, rising 7.7% in the spot market against gold's 3.9% gain. A reaction ought to be expected, right?

There are a lot of silver bulls out there salivating at the prospect of a white metal breakout. For far too long, many say, silver's been undervalued. It's as if the gold/silver ratio — now at 78-to-1 — has mocked them. Gold just ...

Analyst picks for: 2009/01/05

Restored Liquidity Leads To Volatility And Breakouts For The Forex Market

After two weeks of depressed liquidity, currency traders have decided to make their return to the market a memorable one. Breakouts have been marked across a number of the majors and equally charging moves were developed through many of the crosses. Where will the market go from here and what pair is best positioned? Read our DailyFX Analysts' opinions below.


Chief Strategist Antonio Sousa

My picks: Remain Short EUR/USD
Expertise: Economics and Behavioral Finance
Average Time Frame of Trades: 1 week - 3

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