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Trump's Plans cause WTI and the Canadian Dollar to Reverse

From cityindex.co.uk

Yesterday, we discussed how the Canadian Dollar could be in trouble if WTI Crude were to make a false breakout of its daily triangle formation. Today, the false breakout was confirmed as Trump said he is making plans to meet with Iranian President Hassan Rouhani at the UN meeting later this month. A meeting between the two would be the first step towards easing sanctions on Iran and is generally considered to be negative for the price of crude. The doji candle in WTI Crude on a daily timeframe yesterday was a candle of indecision. Buyers tried to move price higher, however they were overcome by sellers who pushed the ... (full story)

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  • Category: Technical Analysis