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February 9th 2020 - Institutional 🏦 Positions & Supply/Demand for Gold, Oil and the FOREX market

Based on the Commitments of Traders data reported on: February 4th 2020

📊 In the Markets: The markets are looking ready to make some serious moves. The #dollar is pushing to the upside as we have been anticipating with the monthly demand zone in play and now we have a momentum shift on the weekly chart. The charts are suggesting that we’ll see more upside and if price manages to remain at these highs then our system will alert us to zones that will be valid for buying. Then we take a look at #gold and we can see that the breakdown is starting to take place. The latest analysis tells us that the daily chart is shifting its momentum and if it continues it will bring price right to the ascending weekly trend line.

This is the spot that will tell us everything we need to know but considering what we are seeing with the #dollar, it’s likely we will see price start to collapse from there.

Looking at the other pairs such as the #eurusd we are seeing some shifts in positions with net shorts increasing and on the charts momentum is shifting downwards and with the monthly demand zone already tested, we can safely anticipate the zone to be penetrated even deeper. The #audusd is another major pair that we are seeing major weakness in and this come perfectly timed with what we expect with #gold.

The current market dynamics is an ideal situation for us as traders because all is completely aligned. Our system has already suggested some zones to trade from based on the dynamics of those charts and we are currently waiting for the charts to produce new zones that will likely become future trade signal zones.

Have a great week and see you at the school!

🎩 Magic Trader!

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