Oil at $55 a Barrel (in euros)
MarketClub has a new video showing the inverse relationship between Crude and the USD/EUR cross. The relationship makes sense. Oil is priced for international trade in USD. As the value of the buck drops in relationship to other currencies oil producers raise the price to maintain purchasing power with respect to those other currencies. Watch the video.
How did the MarketClub Triangle Trading technology do on its oil trades? The remainder of the video takes a look back on some recent trading signals, tells you what combination of time frames MarketClub uses to set up an oil trade, and gives some insight into the likelihood of near term oil prices.
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