COT Analysis + DXY Stuck in Range

In todays live session, we did a breakdown of the latest COT report. We also referred to our Past Live session from October 12th , where we went over how to read the Commitment of Traders report. In addition, we are currently keeping an eye on the open AUDCAD trade idea.

The dollar is stuck in a range between 96.641 and 95.518, and we are looking for price to break to the upside. The economic calendar is showing both the dollar interest rate announcement and the FOMC statement. These might be the drivers to take us out of this consolidation, so Wednesday is a big day for DXY.

For EURUSD, Wednesday news on DXY will give EUR its direction. We can see it’s still being held to push EURGBP up and send GBPUSD down, so we are still not doing anything on EURUSD. Ultimately, we believe it should drop to ( members only ).

The GBPUSD COT was showing that the professionals are still bearish on this pair, so we are still looking for our second target to be hit this week. Our target is ( members only ).

AUDUSD is showing some weakness today. If price closes bearish today, we will get a continuation to the downside. We will be focusing our attention on AUDJPY, as it has a downside objective to be met. We will be using the weakness in AUD to trade AUDJPY.

For NZDUSD, direction is unclear at the current price, we are looking into the COT report to give us an idea what should happen going into next week.

As we identified, the EURGBP drop was just a retracement. We will be going long tomorrow, targeting ( members only ) as our first objective and leaving the rest for ( members only ).

On USOIL, we got a sell today, and are looking for OIL to drop to the level identified on Friday of last week. Our target currently on OIL is ( members only )

The COT of GOLD gave us insight that this should drop once more this week, so we will be looking for a sell on GOLD this week.

BTCUSD has started the anticipated drop. We expect it to continue dropping to our level of $( members only ).

And there’s a ton more of currency, crypto, commodities and other indices left to go over, paid members get to follow along with the trader daily inside our trading portal.

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