Good Day Traders !!
On the Weekly timeframe we have an "M" formation We retraced to the neckline which in in confluence with the 0.5 Fib level and we are continuing our way to the downside. I traced the two potential targets for the next weeks, Please see the daily analysis if you are looking for an entry.
From An institutional perspective we have on Euro hedge funds Shorting massively since the net position went from 165,000 Net position on late January until 125,000 Net position recorded during the last report. Also we have closed more than 5,800 Long position and added more than 6,500 Short positions during the last report.
On Aud we have Jumped from -1,450 Net position to close to 6,100 Net positions recorded during the last report. We have seen Hedge funds adding massively long position on the currency which explain the strenght of the Australian dollar during the previous weeks. On the last report hedge funds have added close to 5,383 Long positions and Closed 2,300 Short position which also forecast a very bullish AUD during the next weeks.
Now if you enjoyed this analysis smash that like button and share. If you have a different opinion please leave a comment below as I would love to get more insights and ideas. I also linked my previous idea about this asset.
Trade safe !!!
On the Weekly timeframe we have an "M" formation We retraced to the neckline which in in confluence with the 0.5 Fib level and we are continuing our way to the downside. I traced the two potential targets for the next weeks, Please see the daily analysis if you are looking for an entry.
From An institutional perspective we have on Euro hedge funds Shorting massively since the net position went from 165,000 Net position on late January until 125,000 Net position recorded during the last report. Also we have closed more than 5,800 Long position and added more than 6,500 Short positions during the last report.
On Aud we have Jumped from -1,450 Net position to close to 6,100 Net positions recorded during the last report. We have seen Hedge funds adding massively long position on the currency which explain the strenght of the Australian dollar during the previous weeks. On the last report hedge funds have added close to 5,383 Long positions and Closed 2,300 Short position which also forecast a very bullish AUD during the next weeks.
Now if you enjoyed this analysis smash that like button and share. If you have a different opinion please leave a comment below as I would love to get more insights and ideas. I also linked my previous idea about this asset.
Trade safe !!!
