Based on the Commitments of Traders data reported on: December 17th 2019
📊 In the Markets: The markets are at a standstill and we know why this is. We have followed price all year and watched it make its moves from zone to zone and now the momentum is slowly coming to a halt. What is likely going to happen is the institutions will leave price were it is now until they return in the new year. The fake out they produced on the #dollar these last couple weeks might have lured in many traders to short it and this is why being patient and knowing when to engage is so crucial.
It’s seems to be clear that what the charts are showing us is that there is a very good chance
we see the #gbp and the #aud to continue higher. We also see great evidence to suggest the #dollar pairs are going to drop with the exception being the #usdjpy. We’ve seen many times when the #dollar was weak the #usdjpy held its form very well. It leads us to suspect that the #usdjpy wants to move higher and needs to remove the monthly trend line before an explosive move takes place. We can only speculate at this time but this does seem to be what is in the works.
#Oil also seems to be setting itself up for a stronger rally to come. We’ve seen longs begin to build again by the institutions and this supports the drop on the #usdcad that we are expecting. Bottom line, it’s time to be patient and wait for them to show their hands.
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