HOW TO TRADE USD/CAD THROUGH THE TRADE WARS

HOW TO TRADE USDCAD THROUGH THE TRADE WARS_Feature

Hi Traders,

Today’s article is going to be one which aims and supports all those who are looking to take advantage of the current Trade War.

With news from Canada and Mexico in the front of everyone mind here is how Platinum will be approaching the event and how we are looking to profit!

TRADE SANCTIONS FROM THE US ON IRAN REGARDING OIL

The Trump administration leaves no stones unturned, when it comes to exert enormous pressure on Iran as it targets to cut off all Iranian oil exports by November. The move sufficiently highlights the President Trump’s overture to throw away the nuclear deal with Iran in the year 2015. Rather, the U.S. Administration now prepares to launch an offensive on the economic front with Iran.

A COMPLETELY PARALYZED BILATERAL RELATIONSHIP

The decision of U.S.A. for its withdrawal from 2015 deal has literally paralyzed the bilateral relationship between it and Iran. The mounting sanctions have come in the wake of the superpower’s tactics to disengage Iran from its nuclear projects. This has led to unrest throughout the world as the president Trump has openly come out in his tweet that any Company doing business with Iran would not be permitted to do business on U.S. soil.

A DIVIDED WORLD OPINION

Despite the growing unrest and chaos, China has taken a different stand; it has disagreed to stop any trade with Iran as both the nations are engaged in a deal over energy.  It would not stop importing its $15 billion worth crude oil even if U.S.A. moves ahead with more sanctions. The most important highlight of the situation is European Union (EU)’s High Representative for Foreign affairs, Federica Mogherini, has taken the vow to save the deal between Iran and China and this high profile office bearer has also requested the European nations to continue their projects in Iran as before despite the possibility that it would put EU’s relationship with U.S.A at stake. Moreover, the EU, China, and Russia have come up strongly against the one-sided deal taken up by U.S.A. against Iran.

IRAN-WHERE DOES IT STAND?

In organization of the petroleum exporting countries (OPEC), Iran’s position as an oil producer is by no means negligible. It is the third largest after Saudi Arabia and Iraq with an outstanding production of 4 million barrels in a day. To add to it, everyday export of 2.1 million simply makes it a giant in its own right. Frankly speaking, oil revenue has made this nation survive despite the global sanctions and aggressive foreign policy of U.S.A.

HISTORY SAYS SANCTIONS ARE CLUMSY TOOLS

It has been more than 34 years from the since the seizure of the American Embassy and economic sanctions have stayed U.S.A.’s tools for dealing with Iran. International experts describe the sanctions are only symbolic than strategic moves. But the result has played a devastating role in the economy of Iran. It has reduced Iran’s oil exports, revenues, and value of its currency and shattered the confidence of people of Iran. The sanctions have now the only credibility of turning Teheran’s aggressive leadership into a moderate one. Those have only facilitated a breakthrough in the controversial nuclear issue in Iraq.

On the other hand, this has intensified the debate over sanctions throughout the world. Critics say that such sanctions disallow the Iranian leadership to come to the table for negotiation. In a recent statement, issued by Iran’s Foreign Minister Mohammad Javad Zarif to the TIME magazine, clearly says that its leadership does not want to negotiate under duress. And if American Congress takes to sanctions, it would prove that the moves of the super power are whimsical and lack the directive to reach a solution.

PLATINUM METHODOLOGY

Here at Platinum, we approach the market like professionals. Beginners too often try to make money quickly in the market thinking it will be a get rich quick scheme. All the traders from Platinum know this too be false and work with our clients progressively to help them reach their goals.

All the mentoring is completely 1-2-1 and provides the individuals with an experience of interacting with a professional trader every week. Remember trading is a marathon and no a sprint, risk less to make more. That is the Platinum Motto.

This is an example of how our Methodology works in action with a trading opportunity. Everything is clear and set out in front of you.

HOW TO TRADE USD/CAD THROUGH THE TRADE WARS

Technical Point of View on the USD/CAD

From the technical chart we can see that we are looking for a Breakout, pull back and continuation trade. This is due to Oil being in a much stronger position then it was previously in the year which is helping to push CAD higher. This in turn has brought the loonie down as CAD strength cancels out USD strength. The level at 1.3000 is now a critical level for trading and should be treated as so.

Trade Wars USD CAD Chart

Wait for a breakout of 1.3000, then go Short on the Pullback @ 1.3000 with a 40 pip stop loss and a target of 1.2880

How to become a profitable Trader.

If you are a new trader and would like to learn how to trade, then sign up today to our 2-day free Foundation to Forex Trading Course. We have just introduced this as in the last month we have had a lot of inquiries on learning how to trade the financial markets. We can get you on the successful path of becoming a Financial Trader.

Hopefully, you have enjoyed today’s article and have gained great knowledge about trading and how to trade. We post a new Forex Trading Blog for Beginners every week, so subscribe to our notifications and stay updated!

See you soon!

The Platinum Formula:

Perfect Fundamentals + Perfect Technical Analysis + Perfect Logic + Perfect Risk Management = Perfect Trade

THE PLATINUM WAY

At Platinum Trading Academy, United Kingdom, we teach all individuals from different walks of life to become a full-time trader or create a secondary revenue stream by trading part-time. We trade in an Institutional Way by letting the market come to us and being patient. Using Platinum’s Trading system you can take many Pips out of the market. We can ensure using this style of trading your trading will make a turnaround as you will become much more consistent.

If you want to trade like the professionals do, making consistently profitable returns from your trading, get in touch with us and we will demonstrate live exactly how we approach the markets.

Download our free ebook to read about the various Trading Patterns that work in the Financial Market. Watch Trades of the Week Videos in our video gallery. Subscribe to Platinum’s Forex Newsletter.

Hopefully, you have enjoyed today’s article. Thanks for reading!

Have a fantastic day!

Nisha Patel

Live from the Platinum Trading Floor.

Get latest Forex and Cryptocurrency market reports and views, trading videos and forecasts of trading opportunities delivered straight to your Inbox.
Earnings Disclaimer:

The information you’ll find in this article is for educational purpose only. We make no promise or guarantee of income or earnings. You have to do some work, use your best judgement and perform due diligence before using the information in this article. Your success is still up to you. Nothing in this article is intended to be professional, legal, financial and/or accounting advice. Always seek competent advice from professionals in these matters. If you break the city or other local laws, we will not be held liable for any damages you incur.