Sideways then Long
USDCAD is likely to go sideways as it is pulled between divergent trends and polices
OIL: Trend going up but should be going down as OPEC cant agree. Most commentators waiting for reversal.
EURO: Trend Going up but should be going down as ECB announce rate cuts and QE. Temporary lift but long term the other way as Dragii needs it to fall..
DOLLAR: Lowered expectations of rate hikes but still remains only currency actually proposing them so any fall should be temporary and corrective.
Result is a lot of confusion and irregular patterns but ending eventually in a bullish market because of the three fundamentals above. Longs should be favoured but taken down around 1.28 and at this stage any shorts should be scalped. Before FOMC the market was reversing - so this I think it a resumption of the reversal following the FOMC shock. I also think bulls have "given up" and become bears - and when this happens the market normally turns bullish.
OIL: Trend going up but should be going down as OPEC cant agree. Most commentators waiting for reversal.
EURO: Trend Going up but should be going down as ECB announce rate cuts and QE. Temporary lift but long term the other way as Dragii needs it to fall..
DOLLAR: Lowered expectations of rate hikes but still remains only currency actually proposing them so any fall should be temporary and corrective.
Result is a lot of confusion and irregular patterns but ending eventually in a bullish market because of the three fundamentals above. Longs should be favoured but taken down around 1.28 and at this stage any shorts should be scalped. Before FOMC the market was reversing - so this I think it a resumption of the reversal following the FOMC shock. I also think bulls have "given up" and become bears - and when this happens the market normally turns bullish.
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