Based on the Commitments of Traders data reported on: December 29th 2020
📊 In the Markets: Things are starting to get a little spicy in the markets. We can see that #GOLD reached the monthly demand zone we had mapped out and forecasted the drop towards. Now we are seeing the buildup of long positions off this area and we are just waiting on along signal to be produced. #GOLD has the potential to fly very high after this
contact; it all depends on whether or not the banks have chosen this area as “THE” spot to start accumulating again. The odds are very decent at this time.
The #EURUSD has made contact with the monthly supply zone and our weekly target of 1.22. Now the question is, will price decline and if so by how much? There is a good chance we’ll see a drop towards the 1.19’s but this doesn’t have to happen since the higher timeframe forces are pushing upwards and therefore we expect supply zones to continue being removed.
The #GBPUSD is a great chart to look at and we recently sent out our newsletter to our many subscribers detailing how we anticipated the weekly supply area to finally be removed and what happened the next day? It was removed. We laid out all the evidence to suggest this and included our chart analysis based on the Sherlock concepts and principles and we were bang on once again. Only a matter of time before we see some explosive moves.
🎩 Magic Trader!
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