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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 opposite gap this morning. CAD has followed the suite. what to expect next? it's hard to call for safe mind of market makers, therefore OIL might undergo the euro's destiny. that's staying still or even appreciating with the ever compounding bad news. to avoid being trapped out, I suggets to stay out of OIL and CAD until technical indicators will come in line with the fundamentals. USDCAD needs to break yestardays' high of a false breakout of 1.30. Until then 1.28 and 1.29 are significant resistance areas. USDCAD might be looking for further fall until any meaningfull rebound. It might be worth taking a small long from 1.275 with a short SL for a target of 1.28
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 opposite gap this morning. CAD has followed the suite. what to expect next? it's hard to call for safe mind of market makers, therefore OIL might undergo the euro's destiny. that's staying still or even appreciating with the ever compounding bad news. to avoid being trapped out, I suggets to stay out of OIL and CAD until technical indicators will come in line with the fundamentals. USDCAD needs to break yestardays' high of a false breakout of 1.30. Until then 1.28 and 1.29 are significant resistance areas. USDCAD might be looking for further fall until any meaningfull rebound. It might be worth taking a small long from 1.275 with a short SL for a target of 1.28
