The recent new I want all traders should pay attention:
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: http://en.wikipedia.org/wiki/List_of_countries_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.
- Two major was broken in the Asia session. signal for U/C
- Hidden divergence between and Price. The result of this divergence is for U/C
Stop loss: 1.05 I show on the chart.
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