As such the Canadian Dollar is highly correlated with Crude prices as it is Canada's #1 export commodity, this means that the further fall of Crude may indicate the weakening of the CAD. By the looks of the charts we have already tested the psychological level of 40.00 and analyst believes that it may well reach as low as 20.00. This is because there is simply 'Too much Oil Stock' in inventory and refining processes have completed the maintenance work for the winter.
(Sources: Financial Times, FXStreet, Bloomberg)
Finally as we watched the dovish speech from the recent ECB Meeting, they are still on track to loosen policy at the next December meeting.
is a great way to identify opportunities within the Foreign Exchange and Financial Stock Markets as they provide an insight into the vision of where the current market will go according to it's economic surroundings. Simply watching the news may not always be the best route to take as the market will have already discounted the prices prior to the news or event. However, it is still very important to consider and combine with to generate the trading potential. The best way to do this is to simply gather the information and brainstorm of the events that it can trigger in the future. This is known as true innovation.
This is simply my vision for the future of this product by gathering all the relevant information that is organised to generate this trading idea.
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