February 22nd 2021 - Institutional 🏦 Positions & Supply/Demand for Gold, Oil and the FOREX market
Based on the Commitments of Traders data reported on: February 16th 2021
📊 In the Markets: What an eventful week we had. Massive winners with the trade ideas we posted last year and this year so far. The #YEN pairs to mention a just a few were one of the trades I mentioned many times last year and it took some time to play out but once again we spotted the long opportunities BEFORE the move upwards took place. So what do we have now? #GOLD sitting at the monthly demand still doing a bunch of nothing for the time being. We might see the momentum start to build off this monthly demand considering all the bullish currencies we’ve been speaking about at the school.
#OIL started a move lower from major supply on the charts. If price were to start a major
drop it would be from this point. We will be watching for the short signals as I’ve laid out numerous times before. The #DOLLAR is looking mighty weak and the chart structure is starting to support this. We have daily supply that needs to be removed for any chance at a rally towards 92’s. Similarly we have #EURUSD shifting momentum upwards and if this structure holds then we’ll likely see price make a major move upwards with long signals surely to follow. But with #EUR pairs looking very weak we have a strong case that we could see more downside build throughout this week and possibly next.
#AUDUSD we uncovered evidence to suggest more upside was coming and sure enough last week we got a nice pop up in price. New demand is being formed and I’m waiting on a certain long signal to trigger and then long trades will be valid, aggressive with some supply in play but we are seeing strength all across the board with #AUD pairs. #AUDJPY is our SUPER FLYER which we called and is doing what we expected!
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