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🔎📊 Your CFTC Data Analysis - May '24 🚨 Featuring $USDCAD

Updated: May 30

Based on the Commitments of Traders data reported on: May 21st'23



#GOLD momentum breaking down on the daily chart after creating a new peak. Price still maintaining a range as we laid out last month. This daily supply will be KEY for removing is price wants to go higher.


$USDWTI - price continues to decline since the attack on Iran. Chart shows there is nothing to stop price from falling.

And falling it did…


$TLT there has been a lot of talk recently about rates and what we should expect from them. The Fed says they will start dropping rates this year but there are signs that investors/traders are starting to think maybe there won’t be any. What we do know is this:

1) On the daily timeframe momentum has started to shift to the downside.

Rates are either going to continue higher, and if that were to happen the 6/12 month supply zones would have to be removed first, or they will hold their supply and start to drop.

Bonds ($TLT) so far are starting to look good. Nice move higher here off the monthly demand zone. Watching for a break to the upside on the daily chart for long signal.


 

 


🔎📊 CFTC EXPERT ANALYSIS


🎩 Each week I will highlight a specific pair from the Araujo Report. The analysis will be a potion of what's made available to members.


USDCAD: Institutional traders have a BULLISH SENTIMENT

Interest Rate: 5.00% (last change – July 11, 2023)Force of Price

FORCES

Monthly

Ranging

Weekly

Ranging

Overview: Price declined slightly and the banks increased their longs very aggressively from 114k to 126k while shorts only slightly increased from 34k to 35k. Recently we had a very significant dynamic shift on the $eurusd which has lead us to suspect that the $eurusd might be heading upwards in time. It’s too early to tell but when examining evidence to support a drop on the $usdcad we can see that we have both a monthly and 6 month supply that is currently in play and is still holding despite many candles being created since the contact.






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