News Oil 

USD/CAD buyers still poised as oil remains frail to start the new week

“Looking ahead, the pair will rely quite a bit on risk sentiment this week with US-China trade talks set to be the main focus once again” reports If the dip arises as a breakdown in trade talks, the bias would then turn towards shorting the pair on a break of those two levels mentioned.That will impact the pair on two fronts i.e. oil price movement and risk sentiment.I’d be poised to buy into another retracement to the downside towards the 100-day MA (100-hour MA also sits nearby @ 1.3231), but the trade would have to be reliant on optimistic tones from trade talks.

Related posts