Based on the Commitments of Traders data reported on: August 18h 2020
📊 In the Markets: Price continues to hold the highs of the #EURUSD (1.1812) and we spoke about this many times already, why is it holding highs? Because we just finished rallying up hard and now the markets are telling us which demand zones are becoming valid. Weekly supply holding and we are expecting to see more downside soon. The positions reached all-time highs recently and so the expectation is to see some profit taking which will fuel a move
lower. This week we are seeing the start of that process. Will it continue? No one knows for certain but it is highly likely based on what we know to be true.
As with many of the other majors, we are at a point where we are expecting pullbacks and the charts are starting to give us evidence that suggest this is what is coming our way. To the untrained eye it will be next to impossible to see the signs of what the market is telling us but because of our hard work and dedication to studying the markets and knowing what to look for, it is becoming clearer by the day what is about to take place.
The #NZDUSD (0.6537) is the one chart which showed us that supply is the major player and with this knowledge we are looking at #NZD pairs for potential trades.
The market is setting up for some explosive moves and we have some trade signals already present and they have been noted here: https://www.whiteoakfx.com/forum/trade-signals. These are exciting times right now and we are ready and waiting to take advantage of the bigger moves that are coming!
🎩 Magic Trader!
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