Based on the Commitments of Traders data reported on: April 19th 2021
#GOLD has been moving based on our expectations recently. We saw the base being formed and then the rally we spoke about has been formed. I also pointed out how the banks tricked retail traders to turn over their long positions to the banks right before the pushed price up to the 1780’s.
Price is now approaching the daily supply zones and the descending trend line we spoke about previously, so moving into this coming week I will be watching to see if momentum continues or retraces.
#USD has contacted the monthly supply zone we had mapped out and now we are seeing a strong push lower from it. The zone below I have coloured in it grey as I expect this zone be
easily removed should the momentum downwards continue. Then we’ll have demand at the 87’s to contend with.
What I will also point out is that on the weekly chart we can see that the weekly demand zone has not been removed but on the #EURUSD the weekly supply has. This leads me to suspect what took place on the #EURUSD chart will eventually take place on the #dollar chart and we should expect the removal of this weekly demand sometime this week. Let’s see as this is not a perfect science.
#AUDUSD contacted the weekly demand and just as we had spoken about we got the move upwards. We have been saying that there is a very good chance we see price build momentum to the upside and move much higher. There is a lack of proper upside momentum on the weekly chart but other factors are building strong evidence for a move higher.
#EURUSD Weekly supply removed, as previously mentioned, and on the daily chart I have outlined some grey zones that I expect to have removed easily if momentum continues upwards. Waiting on a daily uptrend to be established is needed for strong momentum in order to get into a long position.
🚨🏆 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!
👇📺🚨 Watch a PREVIEW of what students receive 🚨📺👇