Day 319: Doha vs Oil

Profit: -$60.57 Total: $1,367.79

The Doha meeting that was held on Sunday ended without an agreement between the two revivals, Saudi and Iran. The two countries failed to reach an accord for production control which initially drove oil prices on a massive gap for the market opening. Surprisingly, oil has quickly found a bottom and filled the gap throughout Monday. Although we had a recovery in oil, without production control, I’m very skeptical and have my eyes watching for a USD/CAD bottom.

The dollar continues it’s tumble and my equity follows it’s hopeless direction. My misfortune continues as dollar can’t find a bottom. I guess I’m learning that I don’t perform too well on a bearish dollar. At this point, I’m going to wait until some macro economics reveals in a hawkish Fed or a dovish global bank. There’s going to be some Australian, Canadian and European news tomorrow and hopefully that can change the direction in this falling dollar.

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