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Saturday, October 16, 2021

Weekly Forex Forecast (COT ANALYSIS)

Weekly Forex Forecast (COT ANALYSIS)

Euro vs United States Dollar GLOBALPRIME:EURUSD


Dollar - it's bullish and expected to make it to the upper band of the long-term channel. But now we reached 5 years extreme for long 49K, Total volume 63K and net positions 35K,so profit-taking is taking place now and will make a pullback that will affect all pairs too.

snapshot

AUDUSD - Extreme 117K shorts reached and since then we can see profit-taking of 20k contracts. 5 years historical lowest longs look nice for buying.
snapshot

USDCAD - The price is falling while the banks starting build longs again. Expecting the fall to continue as the USD is weak.
snapshot

USDCHF - Longs reached the 5 years extreme 18 321 and since then we can see profit-taking as this is happening on the top of the channel. I expect the price dropdown. 89% longs exposure and 15K net positions are as well extreme numbers,
snapshot

USDJPY - price is reaching the resistance while we can see extreme numbers in longs, total volume , and net positions = pullback expected.
snapshot

NZDUSD - Simply looks bullish , Shorts being reduced for some time in the consolidation phase while the longs were added. The last 3 days after the data was published we moved much higher, there will be even more long positions now.
snapshot

EURUSD - Total volume is in the 5 years extreme while the price went thru 2 liquidity zones and is on the bottom of the channel. I expect profit-taking on the USD so it can bring EUR up.
snapshot

GBPUSD - doesn't have a clear trend but more upside pullback is expected. the price moved after the report sharply which is not included in the report.
snapshot

This is my personal opinions, I can be wrong do your own analysis.


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