Based on the Commitments of Traders data reported on: November 17th 2020
📊 In the Markets: We can see strength now kicking in on #OIL and when we look at the data it does support a move higher. We have been outlining this move for a while now because the weekly supply is expected to be removed and price head higher to contact the monthly supply and possibly higher. The #AUDUD has contacted major supply and then entered into
some ranging. The supply is holding well and when looking at the data we can see that shorts are the aggressor at this time. Thing is we can also see that the banks have not been kicking in momentum in any direction and without that there can’t be any serious range breakout.
On the other hand we have the #NZDUSD and recently we saw price rally strongly because of a lack of supply forces like the #AUDUSD. So price rallied right up into some supply and this comes as the banks total size is becoming aggressive, long positions are also aggressive and shorts have recently been added. We are likely going to see momentum shift from these highs and then price will tip over and drop. First sign of this taking place will be to have the 0.6810’s taken out.
Overall sentiment in the markets are showing us that the banks are not heavily invested in any direction move at this point and it will take a little longer for those signs to come and when they do it will mean serious moves will be coming. For now we continue to be patient.
🎩 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 🚨📺👇