Weekly Outlook 17/02/2024

Dollar Index

The dollar has topped in the last year October. Since then the DXY is in the slide down. In my opinion, the price will visit the 100 territories in the future. Market makers have left nice equal lows – liquidity zone. We have finally reached the Weekly order block nested in the weekly and monthly FVG. It’s in the 90-day high and as we can see on the COT data Shorts were added while the price was going up. I think it’s time for a pullback.

GOLD

Gold reacts to the Dail OB,  I think we will potentially see the price push up to the daily supply, But there was ITL left so busying below it I see as an option.  If the price reaches H4 supply first then we get a chance for short term short.

EURUSD

Price finally came into the Daily obe, and bounced sharply. Everything is in perfect alignment with the AMD concept. COT data show longs coming.  We can see ITL  – intermediate low left just right above the H4 OB. IF price comes there it would be a great long opportunity.

 

GBPUSD

The pound has been in the range for quite some time.  And last week it was finally manipulated into the OB below the ITL. COT is Ultra bullish so I think GBP push-up can be strong.

USDCAD

USDCAD price topped in November when it created a yearly high right into the rejection block. Price finally reached daily OB nested in the Weekly OB. COT is bearish and I will be shorting above that ITL. CPI data on Monday could bring the price higher from the Daily OB. Then I will be interested in building shorts.

 

 

 

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