Short commentary before Rita

[scorpion]

Rita hurricane might be a new potential disaster for the US. The projected path is to hit Texas on Friday this week or so. The fears has driven the oil price $3 higher already.

What will this affect EURUSD? ok, if the oil goes up, the USD will go down, but due to Germany's election the EUR will not rise anytime soon, so EURUSD will end up flat or rise a bit. I think, during this time, trading especially shorting on EURUSD should be suspended.

What will this affect USDCAD? don't long USDCAD, it's not gonna go up.

Want some quick profit? Shorting USDCAD is potentially profitable due to Canadia's oil stocking. Making profit during this time doesn't mean we're cruel, I think. Donating some profit to victims will do good to all.

[scorpion]

Disclaimer: This commentary is not a trading advice. This is solely an opinion for educational purpose only, and this is not a trading strategy of any kind.

Note that by the time of this writing, the EURUSD is 1.2164 and USDCAD is 1.1680. So let's observe what will happen next.