WTIWCU trade ideas
WTIMCU Trend UpdateThe video will discuss where I believe this degree of trend is at ...... and is a follow up from yesterday
WTI - Price consolidation completed break out on ! Still holding with a tentative TGT for profit take rather than STP circa $25 ..... Stop management working in background as always
Oil - WTI - The Last Breath - $0.00 - HourlyFX_IDC:WTIWCU : Strong Sell
Analysis Method: Fibonacci & Wave Theory
To break the Wave Sequence, Oil must get above $22.00.
Target: $0.00
Time-frame: <23 Days
Will update.
FibMarketWatch.com
Death of the Petrodollar System?FX_IDC:WTIWCU :Strong Sell
The petrodollar is any U.S. dollar paid to oil-exporting countries in exchange for oil. The dollar is the preeminent global currency. As a result, all international transactions, including oil, are priced in dollars. Oil-exporting nations must receive dollars for their exports, not their own currency.
In addition, most of them own their oil industries. That makes their national income dependent on the dollar's value. If it falls, so does their government's revenue.
As a result, most of these oil exporters also peg their currencies to the dollar. That way, if the dollar’s value falls, so does the price of all their domestic goods and services. That helps these countries avoid wide swings in inflation or deflation.
Petrodollar System
The petrodollar system is tied to the history of the gold standard. After World War II, the United States held most of the world's supply of gold. It agreed to redeem any U.S. dollar for its value in gold if the other countries pegged their currencies to the dollar. Other countries signed onto this deal in the 1944 Bretton Woods conference. It established the U.S. dollar as the world's reserve currency.
On February 14, 1945, President Franklin D. Roosevelt initiated the alliance with Saudi Arabia.
Will the Dollar follow oil?
Please see DXY - Analysis for more information
FMW
