Some short term trade ideas based on this monthly demand zone and the upcoming daily supply. There has been significant short closing activity in the COT disaggregated reports lately which I think will send Silver price higher.
Trade with care,
The pair hit a weekly supply zone and almost took it out. Now pulling back from the top and coming close to a demand zone. I expect another reaction in the demand zone off the upward momentum line. Eventually I expect the weakening of momentum and falling further down from the current weekly supply zone. Any short will have to stop above the current weekly...
Gold has been weakening as a result of USD strength and some seasonality. With large institutions at their extreme low point of long positions and extreme short positioning, Gold can't drop much longer.
Non-commercials have already started building their long positions based on the COT-Legacy report. The Other Reportables in COT-TFF report are also at a very...
Looking at the price structure, the AUD seems to be the stronger than EUR at current levels. The upward momentum line stalled and now broken. The SZ shown in the box managed to break a support level, would be nice to get a short from there. If that doesn't work, the other SZ above it should.
Trade with care.
Price stalled after few weeks of continuous drop. The daily down momentum line broke, but we saw a huge long contracts closing (not renewing) in the COT-NonCommenricals report. The D-SZ is where it all happened.
If price manages to break the current short term down momentum line, we can get a long entry on a pull back.
The momentum line can also be used a short...
Considering that NZD was around today's LOD last time BOC raised rates to 1%, and that today's unchanged rate, and also the low probability of another raise this year based on BOC statement, going long on NZD against CAD seems a reasonable trade. Similar to the AUDCAD trade, I have a feeling that this are indicated on the chart will be a demand level in the coming...
We might see some hurdle at the red line, I'm thinking it'll pull back if there is any point for it to stop running will be most likely at that line) to one of the two regions below too shoot up again. Let's see.
I think AUD is going down, looking at the 1H chart, there might be an opportunity to take a short. Im hoping it gets to that prices then breaks down the zone at the lower area. If it manages to go through up through that area, there are other short opportunities further up. I'll update.