|By Matein Khalid| The plunge in crude oil after OPEC’s Vienna conclave, Dr. Draghi’s failure to resist Bundesbank pressure not to fire another ECB easy money bazooka, Wall Street’s junk bond debacle and an imminent rise in the Fed Funds rate for the first time since 2006 will all shape the next big trades in Planet Forex. The Euro has risen to 1.10 on Draghi’s failure to deliver a “shock and awe” even though the ECB refinancing rate has fallen to minus 30 basis points. Position squaring took the US Dollar Index 2 points below its recent 100 peak. In foreign exchange, the trend is your friend until the trend comes to an end – and the primary trend is unquestionably still King Dollar. The collapse in crude meant we finally achieved our target of 1.36 on the Canadian dollar, a trade (buy US dollar/sell Canada) I had initiated when the loonie was 1.06. The Canadian dollar fell 25% since I recommended investors short it in 2014, generating windfall profits for investors/friends in Dubai who followed my investment thesis on the loonie.