Based on the Commitments of Traders data reported on: April 27th 2021
#GOLD started its decline this past week which is exactly what we had forecasted. We knew that the retail traders went long at the higher and the banks had to find a way to scare them out. We currently have retail at 55% long so we could see price drop further this week and low and behold we have institutional demand located just lower at 1749.
#USD has contacted the monthly supply zone we had mapped out and now we are seeing a strong push lower from it. The zone below I have coloured in grey is expected to be easily
removed, should the momentum downwards continue. Then we’ll have demand at the 87’s to contend with.
The dollar is currently rallying from the tested monthly demand which we suspect will be removed in time.
#AUDUSD we have a weekly supply currently in play and before price can make its way higher we need to have this zone removed first. We noticed this week that price started to decline from this area so next push up could signal its eventual removal.
#USDCAD this chart has surely taken it’s time to produce some momentum to the downside but we are seeing that start to come through for us now. Would like to see the momentum continue so I can add more positions short.
Price did indeed drop for us since last week’s post.
🚨🏆 Win a FREE month tuition paid by us by following us on Twitter @WhiteOakFX and Retweet our links and SHARE our YouTube videos to continue getting them for FREE!
👇📺🚨 Watch a PREVIEW of what students receive 🚨📺👇