Based on the Commitments of Traders data reported on: August 25th 2020
📊 In the Markets: A lot of consolidation happening on the charts which we were expecting BUT take a look at the #AUDUSD (0.7366), #GBPUSD (1.3349) and the #NZDUSD (0.6742). These three are moving and moving well. We’ve outlined many times that the #AUDUSD has MAJOR demand in play and therefore the main forces will be pushing price upwards. There was a chance we saw a retracement back down for demand to be reengaged but that doesn’t seem to be in the work at this point. We have targets higher up the chart which
we’ve outlined many weeks ago and this is fast approaching. Once this target is reached MAJOR supply forces will be in play and then the dynamic of the #AUDUSD will shift. Retail traders will be focused on buying and our focus will be on shorting.
The #GBPUSD on the other hand has a lot of room for a move higher. There are some obstacles on the weekly chart that need to be removed but as for MAJOR supply the chart is clear for move higher. We outlined this strength that we were anticipating months ago and now we see it playing out.
Now with respect to the #NZDUSD we watched as the monthly supply has been holding for a lot longer than the other pair’s supply forces were and now that monthly supply is being penetrated very deeply. It has yet to break through but if it does then the flood gates will be open for a move much higher to come.
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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