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OIL and CAD

iggy_ua Posted 19 Apr.  in #Trader's blog #CAD #Forecast #Oil
expect the unexpected. market makers exceeded the bravest scepticism about validity of the fundamental news. the news do not play any role any longer. vice versa. the most straightforward news will be traded in the opposite direction. it's a common trick in the market in the last two years, which was bluntly proven yesterday.
oil has spurred it's run into the moon after the beaten down news on no agreement from Doha. despite this OIL managed to recover from the opening gap and even open with the…
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OIL and CAD

iggy_ua Posted 18 Apr.  in #Trader's blog #CAD #Forecast #Oil #Gap
Today's market opening brought the expected price gap on oil and most currency pairs after the Sunday's OPEC meeting. OIL is deemed to be under preassure for the next few weeks. Nevertheless, do not count on a sudden steep drop in the price. Speculation and market maker's fakeouts will play out a vital role in the price action. I expect the price to move slowly downwards with big rebounds.
On a currency arena the biggest looser of the OIL depreciation will be CAD. The USDCAD has gapped up throug…
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OIL and CAD

iggy_ua Posted 22 Jan.  in #Trader's blog #AUD #CAD #Forecast #Oil
Yesterdays' move in oil price was contrary to the news on Crude Oil Inventories. It's not unusual in the markets, when price runs agains the fundamentals. Speculation plays a key role in the markets nowadays. Despite crowd expectations large players kept accommodating large oil contracts and had to run price higher to pocket the profits. Such a move can not last long even though the daily chart looks threatening for the oil bears. The yesterdays' candle and today's price action favour further up…
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OIL and CAD againg

iggy_ua Posted 17 Jan.  in #Trader's blog #CAD #Forecast #Oil
With the price of oil dropping below 30 mark, the analsysts start looking at a price barrier of 20usd, which is cost of oil production. At the same time the oversupply of oil can not last. There are no extra storage capacities left in the world. The only solution would be to close the production facilities, which will lead to reduction in supply and rebalancing of the oil price. Looking at the daily oil chart we can see that the Fridays price action has reached a convergence area of 161.8 Fibo e…
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CAD and OIL

iggy_ua Posted 16 Jan.  in #Trader's blog #CAD #Forecast #Oil
CAD is plummeting against other currencies that was triggered by the drop in oil prices. The price of a barrel of crude has fallen below the $30 mark. Depreciation of the local currency is favourable for the country through stronger competitive position in exports. However, Canada pays a high price of CAD depreciation through falling oil revenues. To stimulate the consumption and growth in the country, the Bank of Canada might take a decision to cut interest rate. The announcement will be held o…
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