Based on the Commitments of Traders data reported on: July 28th 2020
📊 In the Markets: #GOLD (1983) all-time highs hit, #OIL (40.05) contacting weekly supply nested inside the monthly supply. Expected move lower can start from these levels since the monthly supply has been contacted but we suspect that there is still more upside that is coming our way. Then we have the #DOLLAR (93.39) that has dropped through the monthly demand that was holding price in a range. NOW depending on whether price remains at these lows for some time or not a different situation will be presented. We have 6 month supply forces in play here and this will put tremendous pressure to the downside. Weekly
supply above has been validated and can very easily be used to propel price even lower on the charts.
All throughout the charts we are seeing the same situation where retracements are looking ready to be had. I want you to examine the individual pairs within the report and see for yourself what it is telling us. I have detailed my analysis for each pair and you’ll find there is a consensus. The #AUDUSD (0.7145) contacted a descending trend line on the monthly chart and it is this obstacle that seems to be what might start the trip downwards on the chart, whereas the #NZDUSD (0.6634) contacted the monthly supply and it is holding well and momentum seems to be shifting downwards on the daily chart.
What is important to point out are the #USDCAD (1.3399) and the #USDJPY (105.81) which have major obstacles preventing a significant drop in price. These currencies will play very well for the trade signals I am watching for and mentioned in the portfolio. The #GBPUSD (1.3092) strength we have been mentioning for many weeks now has come through for us and we expect to see more upside in the months to come.
🎩 Magic Trader!
🏫 White Oak University 👩🎓 Students 👨🎓 you can see the full report here: https://www.whiteoakfx.com/the-araujo-report
🚨🏆 Win a FREE month tuition paid by us by following us on Twitter @WhiteOakFX and Retweet our links and SHARE our YouTube videos to continue getting them for FREE!
👇📺🚨 Here was last weeks video provided to members 🚨📺👇
コメント