USDCAD short while Oil is gaining some bullish momentum
Fundamental:
* Oil price rallied on the backs of an improved US-China trade relationship and continued efforts by major oil exporters to stabilize the market
* More dovish Federal Reserve (cautious about pushing ahead with future rate hikes)
* supply cuts (reductions of 1.2 million barrels a day) on the oil market, which are now finally being priced
Technical:
* After the market retest previous supply zone in W1 T.F., the market is now heading towards the demand zone.
* Oil price rallied on the backs of an improved US-China trade relationship and continued efforts by major oil exporters to stabilize the market
* More dovish Federal Reserve (cautious about pushing ahead with future rate hikes)
* supply cuts (reductions of 1.2 million barrels a day) on the oil market, which are now finally being priced
Technical:
* After the market retest previous supply zone in W1 T.F., the market is now heading towards the demand zone.