sidLet me explain this briefly:
1. There has been too many bad news in US recently like Houricane Katrina hitting New Orleans which greatly destroy majority of the city and halt a great deal of oil production and distribution.
2. These events give off a large impact on various market like stock exchange and oil price. Ok, here we go, the oil price is reversely related to USD. That means if oil price up, USD will be down, because as a rule of thumb USA is kinda sort of oil these days.
3. On the other hand nothing bad is happening in europe, so traders don't worry that EUR could be down. This creates a support for EUR while USD is greatly weaken.
4. Canada has reserved a surplus amount of oil that could fuel the whole USA population for up to a century. While USD is weaken, some big traders might short USDCAD, for the reason that they expect some gain from CAD of because of the country's oil export.
5. At 15:00 GMT, it is generally the second breakout wave of US session. Right when US markets open, feared traders and corporations start selling a great of amount of stocks and hedge USD by shorting. This trading force is like tsunami's, no body can stop it.
This is a little secret of my trading system on fundamental side.
