Based on the Commitments of Traders data reported on: July 21st 2020
📊 In the Markets: Look what we have here!!! Our analysis picked up on some clear clues that led us to suspect the #DOLLAR was going to drop and the #EURUSD was about to rally strong and this is what took place this past week. The ranging cycles are now complete on those two and a new force creation cycle has begun. With that said we are watching many things on the chart and you should check with the Observation Journals for more detail but overall the #DOLLAR (94.35) is clear for a move lower now and the #EURUSD (1.1656) is set
to move much higher.
#GOLD (1900) is looking splendid. As mentioned there is absolutely no reason to suspect that price is going to drop significantly right now. We’d like a retracement to be able to get into long positions but we don’t feel the retracement will begin any type of collapse. #OIL (41.24) on the other hand, we are expecting something to start brewing here in terms of a drop. We are expecting a little more upside before that takes place and this is well correlated with the #USDCAD at this point because the #USDCAD (1.3407) is currently sitting in some demand and we could see a rally form from here which will be weakness for the #CAD and thus weakness for #OIL.
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