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February 15th 2021 - Institutional 🏦 Positions & Supply/Demand for Gold, Oil and the FOREX market

Based on the Commitments of Traders data reported on: February 9th 2021

📊 In the Markets: This past week we saw the #EURUSD rally upwards before contacting the weekly demand zone, instead it contacted daily demand. What does this mean, well usually it means we’ll see more downside to come until the weekly demand is contacted. Recently we discovered that the monthly supply we had originally thought was in play was actually not there and instead a tested monthly supply was in play. This slightly changes the dynamic a bit considering we have massive demand that is also in play. Right now the downtrend on the daily is broken and new demand is being produced so will it be used to propel price

higher? There is evidence to support this considering the #GBPUSD moves lately and the #AUDUSD contacting weekly demand and holding. We’ll continue to monitor this one this week very closely and see what unfolds.

The #GBPUSD strength continued last week and our targets of 1.40 are n sight. Since the weekly BUYING zone we pointed out this one had moved north by 1100 pips which is outstanding. This just shows the power of the Sherlock Analysis process and how accurate it is. We don’t see any sign of it stopping right now.

The #AUDUSD is an interesting one as we have demand in play but also some major supply. I have been reviewing the analysis on this chart to find any reason why price won’t drop and I can find a few things throwing the analysis off just a bit. We have some abnormal candles forming bases which brings into question their validity so we’ll be looking deeper into this during the week to see what we can conclude. The #AUD pairs look as if they could go higher considering the abnormalities we’ve discovered. The #AUDJPY is looking ready to fly and has been performing very well for us. We have some supply in play but if taken out we don’t see any reason why the mid 80’s couldn’t be reached.

Many updates coming this week so stand by and enjoy!

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