After last Friday panic at Oil market, every single commodity price fell like there was no tomorrow and when we got to Monday, all of them recover like saying "forget about happened in Friday, it was a mistake". So what happened? Why predictions of another 2008 crisis or Oil at 40 did not materialize yet?
The best explanation that I got is that the OPEC decision was already priced and Friday movement was just some panic attack, drive by news traders and robots. Life goes on, Oil will not collapse and this moment can be a good spot for turning points.
Canada is one of the nations in the doom list after OPEC decision, and it's screaming at me for being long at it's currency. Technically there is an engulfing pattern, a double top and it's near the end of fifth wave. At the same time, FED is giving dovish speaks, afraid of raise interest rates when everyone is starting a new round of QE programs, with a possibility of another heavy winter and inflation far from target.
This is my "rational analysis" in USDCAD, like if you liked, feel free to share your opinion.
Thank you.
The best explanation that I got is that the OPEC decision was already priced and Friday movement was just some panic attack, drive by news traders and robots. Life goes on, Oil will not collapse and this moment can be a good spot for turning points.
Canada is one of the nations in the doom list after OPEC decision, and it's screaming at me for being long at it's currency. Technically there is an engulfing pattern, a double top and it's near the end of fifth wave. At the same time, FED is giving dovish speaks, afraid of raise interest rates when everyone is starting a new round of QE programs, with a possibility of another heavy winter and inflation far from target.
This is my "rational analysis" in USDCAD, like if you liked, feel free to share your opinion.
Thank you.