USD Rolls Over as Oil Strengthens Crudeoil Forex
Enter your emailIn the short term, we may have a little bit of a pullback on our hands.market strengthened.
In fact, oil broke out of a major triangle that I have been following, so it does make sense that we would see the Canadian dollar rally as a result. Ultimately, the US dollar losing a little bit of ground made a certain amount of sense anyways, due to the fact that the US dollar was so overbought.The 1.
At this point, you will need to keep an eye on the oil market, interest rates in the United States, and the US dollar’s strength or weakness across the board. The volatility is going to increase before it falls anytime soon, so at this point, it is likely that we will continue to see a lot of noisy behavior, and you need to be very cautious about your position size.
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