AUD
Last week AUD made gains with a rising volume, but the price range is still in a neutral zone. For the time being, no trade is recommended.
If the price breaks the channel upward, it has two resistance zones.
- Sell zone 1, as it is the start of the sell-off 21st September - Strong resistance
- Sell zone 2, a two-year peak - Stronger resistance
- Sell zone 3, every price above the top - Strongest resistance
On these zones, we need to see a lot of supply as sell orders should be allocated based on them.
Remember, supply and demand appear on the opening hours of London and New York, so don't trade on any sign of weakness.
COT
- Noncommercial positions have decreased both, long (-2,7%) and short (-5,6%), as long contracts remain more than short with 7K more.
- Long commercial positions have decreased by 1,8% to 44K, as the short have increased by 1,6% to 60K
Last week AUD made gains with a rising volume, but the price range is still in a neutral zone. For the time being, no trade is recommended.
If the price breaks the channel upward, it has two resistance zones.
- Sell zone 1, as it is the start of the sell-off 21st September - Strong resistance
- Sell zone 2, a two-year peak - Stronger resistance
- Sell zone 3, every price above the top - Strongest resistance
On these zones, we need to see a lot of supply as sell orders should be allocated based on them.
Remember, supply and demand appear on the opening hours of London and New York, so don't trade on any sign of weakness.
COT
- Noncommercial positions have decreased both, long (-2,7%) and short (-5,6%), as long contracts remain more than short with 7K more.
- Long commercial positions have decreased by 1,8% to 44K, as the short have increased by 1,6% to 60K