Based on the Commitments of Traders data reported on: October 10th'23
#GOLD watching the daily chart this week for signs of what is coming. We have weekly supply that would need to be removed and then significant momentum upwards would kick in otherwise if the daily demand gets removed then I am suspecting we’ll get another drive down to the weekly demand in order to take it out.
$USDWTI - oil has price coming right into a significant supply zone. #Oil may be going up because of Middle East tensions and the supply may be used to drop price significantly.
$EURUSD I’ll be watching the 4H chart to see if the downtrend will be produced to continue the momentum downward. Weekly supply seems to be in play now so we could likely see this continue lower. New downtrend line would have to begin from the recent highs. So keep your eye on that this week.
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