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February 20th 2020 - Institutional 🏦 Positions & Supply/Demand for Gold, Oil and the FOREX market

Based on the Commitments of Traders data reported on: February 11th 2020

📊 In the Markets: The #dollar gave us that week of consolidation that we wanted. The importance of this was for the purpose of validating the demand zone we have located on the chart and when we combine the principles used to locate the #institutional supply/demand with the #CoT report data, we can clearly see the amount of demand that was filled in this area. What would be ideal now is if we see a pullback to demand so that the #banks can fill in any other long positions they didn’t fill in on the original move.

When we look at the #eurusd we can see the same thing developing, we have newly formed supply and looking at the data we can see the amount of supply that came into the market. What we’d like to see is a pullback, just as with the #dollar, so that will give us a chance to jump onboard the move they are setting up for. The #audusd is another one that is displaying very similar dynamics and should provide us with a nice continuation of the move to the downside as well.

Then we have the #gbpusd and this one has got a whole different set of dynamics in play. For this reason it is better to not get into #gbp trades until the dynamics change in such a way that the probabilities of direction increases. The #usdjpy looks ready to explode to the upside at any point. Supply and a trend line have done a wonderful job holding price down for the time being. The sentiment is bullish but we are not seeing any string buying as of yet. We’ll keep our eyes on this one as it could move higher and new demand could be formed and if the charts dynamics are correct, we’ll have a trade signal to engage this market.

The #usdcad is another nice looking chart that has already produced some decent demand that could be used to facilitate a move higher but there are some inherent risks involved with this demand so a trade signal has not been produced yet, should price play out according to our expectations, we’ll have a signal and be able to engage in this market as well.

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