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  • $USDCAD is weaker in the aftermath of OPEC+'s decision to hold output steady, falling to trade back around the 1.2600 level. The pair fell to its lowest level in nearly three years during last week's volatility, rebounded to a high of 1.2730, and has then edged lower. $USD $CAD https://t.co/QBVe8X5nVO
  • Russia reportedly has been given an exemption from OPEC+ supply deal - Delegates
  • The Canadian Dollar is surging alongside the rise in oil prices following OPEC+'s decision to hold output steady. $CADJPY has risen above 85.00 to trade at its highest levels since late 2018. $CAD $JPY https://t.co/YzikqjWyvT
  • $WTI Crude Oil is extending its gains, rising above 64.00 to trade at its highest levels in over a year. $OIL $USO https://t.co/7aFsMmJd7x
  • OPEC+ decides not to hike output by 500kbpd in April - Delegate Oil prices at highs of the day https://t.co/UBAtzuEs0b
  • Forex Update: As of 15:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.29% 🇨🇦CAD: 0.29% 🇦🇺AUD: 0.21% 🇪🇺EUR: -0.26% 🇯🇵JPY: -0.53% 🇨🇭CHF: -0.56% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/dULwFuQVcF
  • OPEC+ is close to keeping output unchanged in April - Delegates #OOTT
  • Indices Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.09% US 500: 0.04% France 40: 0.04% FTSE 100: -0.13% Germany 30: -0.16% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/raVqHjfXWM
  • RT @Amena__Bakr: Saudi Arabia is proposing a rollover for April and May- delegates #OOTT #opec
  • BUZZ starts trading today. An ETF that invests in larger market cap companies with the strongest positive sentiment in social media. That's where we are now
Strategy Video: Don't Be Lulled by the Comfort of Consensus

Strategy Video: Don't Be Lulled by the Comfort of Consensus

John Kicklighter, Chief Strategist

Talking Points:

• There is a cognitive bias whereby traders seek the consensus in position and opinion

• This happens even when that view leads to losses - whereby the loss is 'okay' because everyone else lost

• We discuss how we can coach ourselves away from this irrational behavior

Sign up for a free trial of DailyFX-Plus to have access to Trading Q&A's, educational webinars, updated speculative positioning measures, trading signals and much more!

When a market keeps rising, complacency and status quo can work in our favor. However, many continue to seek this consensus even when it means a dwindling account. The concept whereby someone feels comforted by a loss or losing strategy so long as 'everyone else is losing' is a cognitive bias that is rooted in socialization. As irrational as it may be to applying a profitable strategy, the contentment can be difficult to override. In this weekend Strategy Video, we discuss this cognitive bias, establish means for coaching away from it (recognizing it is the first, very important step) and use the analysis on a few areas where this concept may be running rife.

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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