Fundamental Analysis:
The recent new I want all traders should pay attention:
- www.marketwatch.com/...lear-deal-2013-11-24
This is a very important event, the deal between Iran and major world powers last Sunday will abolish many commercial barriers which help Iran reexports oil. This causes pressure on oil price because Iran is one of 10 oil export countries all over the world. You can refer in: en.wikipedia.org/wik...es_by_oil_production
So if Iran begins to foster to export oil, oil price will decrease greatly. Supply increase, demand unchange ---->; price decrease as a result.
Like I said in this topic:
Traders should not abandon the corelation between OIL and Canadian dollar because Canada is a large oil export country : 6th in above list. Thus, oil price decreases would lead to U/C rises up.
Next week , there is no major economic data from Canada, I consider data from USA.
- Consumer Confidence on Tuesday
- Durable Good Orders on Wednesday.
I bet on Good Data. Benefit for USD.
Combine two sources of information, I believe U/C will rally to 1.06 key level.
Technical Analysis:
- Two major trend lines was broken in the Asia session. Bullish signal for U/C
- Hidden divergence between Stoch and Price. The result of this divergence is bullish trend for U/C
Targer: 1.06
Stop loss: 1.05 I show on the chart.
"Please try out my application I write for Forex traders to help them calculate many values such as lot size, pip,margin, pivot point : play.google.com...re/apps/details?id=sforex.... "
The recent new I want all traders should pay attention:
- www.marketwatch.com/...lear-deal-2013-11-24
This is a very important event, the deal between Iran and major world powers last Sunday will abolish many commercial barriers which help Iran reexports oil. This causes pressure on oil price because Iran is one of 10 oil export countries all over the world. You can refer in: en.wikipedia.org/wik...es_by_oil_production
So if Iran begins to foster to export oil, oil price will decrease greatly. Supply increase, demand unchange ---->; price decrease as a result.
Like I said in this topic:
Traders should not abandon the corelation between OIL and Canadian dollar because Canada is a large oil export country : 6th in above list. Thus, oil price decreases would lead to U/C rises up.
Next week , there is no major economic data from Canada, I consider data from USA.
- Consumer Confidence on Tuesday
- Durable Good Orders on Wednesday.
I bet on Good Data. Benefit for USD.
Combine two sources of information, I believe U/C will rally to 1.06 key level.
Technical Analysis:
- Two major trend lines was broken in the Asia session. Bullish signal for U/C
- Hidden divergence between Stoch and Price. The result of this divergence is bullish trend for U/C
Targer: 1.06
Stop loss: 1.05 I show on the chart.
"Please try out my application I write for Forex traders to help them calculate many values such as lot size, pip,margin, pivot point : play.google.com...re/apps/details?id=sforex.... "