November 17th 2020 - Institutional 🏦 Positions & Supply/Demand for Gold, Oil and the FOREX market
Based on the Commitments of Traders data reported on: November 10th 2020
The markets are definitely taking their sweet time these days. #GOLD continues to sit near the recent lows, right inside a daily demand zone we have mapped out and once this demand is taken out then we will have momentum that will likely kick in and fuel a move lower. Once we get lower, if that happens, then we will be on watch for the accumulation of a
larger long position again. There is strong evidence to suggest the banks will be pushing gold much higher and we want to be part of that move.
The #AUDUSD is still stuck in its weekly range as we have the weekly supply now contacted but the #NZDUSD has a different dynamic in play which is the reason why price is moving higher. The supply we are currently in has been tested multiple times so it is weak and therefore we could see more highs to come. Right above price though we have a monthly supply which will likely push price lower over the longer term.
The #EURUSD is sitting near the highs on the weekly chart and we have a very good idea of what they are doing. The evidence is clear, they are profit taking and when this is over we will see momentum kick back in again.
We are now in the final stages of our trade setups forming.
🎩 Magic Trader!
🏫 White Oak University 👩🎓 Students 👨🎓 you can see the full report here: https://www.whiteoakfx.com/the-araujo-report
🚨🏆 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 FREE PREVIEW of what students receive 🚨📺👇