Updated: May 7, 2020
🚨 SPECIAL EDITION 🚨 Link to FULL report: https://99ac88cf-74ea-48cd-b34a-f802522de0b6.filesusr.com/ugd/3c818e_907095b69f8b434b8a7652302d21984a.pdf
Based on the Commitments of Traders data reported on: December 24th 2019
📊 In the Markets: We have a lot of big moves that we have anticipated for the end of the year to take place, currently playing out. The #dollar has dropped and penetrated its weekly demand zone again but we still have yet to have the weekly candle close but it’s looking very much like we have that zone removed. The #dollars monthly chart has a difficult to read area which can produce very different analysis has is crucial to what we expect from price in the
months to come. Nonetheless we’ll be monitoring this market closely to establish the legitimacy of the zones.
#Gold has rallied from the monthly supply zone just as we had expected and now price can easily move higher to test the monthly supply higher. This would be the natural path for price to take and would be easily facilitated with more weakness from the #dollar. Likely this will take place, with the dollar, as we can see the dollar pairs showing similar evidence that they will continue dropping lower as well. Both the #usdcad and the #usdchf broke through their weekly demand zones and as for the #usdcad it has opened a path for a move much lower to take place. The #usdjpy on the other hand is very hesitant to drop alongside #dollar weakness and this was to be expected with the higher timeframe forces pushing price upwards.
The #eurusd and #gbpusd strength is what we were expecting as well. The #pound being the stronger of the two has established great strength and we can see in the data that institutions are now officially net long the pair. We see more upside coming in the months to come alongside some trading opportunities as we.
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