This week’s Forex Insights
This week began with a big fundamental event: French election. Macron won – which was no surprise. This result will strengthen the EUR for the next week. One may say that this result of the election was already priced in – but a look at the Commitments of Traders Data (COT-Data) showed that the Commercials were not „on board“ during the election event. They may enter here.
I have looked at different pairs this week. Have a look.
4DOW Jones
COT-Analysis
Dow just gained 17 index-points and is now at 47 on a 13 week’s timeframe. The Non-Commercials appear to have lost interest in the DOW as I would expect it to rise this week as our weekly performace says this week to be up by 86% gaining about 100 points but also going down 100 points. RRR is at 1:1
The overall trend of the DOW is up. Currently a small correction is taking place. If price may go above 21,050 the long-trend may continue. Use a situation based stop and when entering expect to hold the position till the end of week #23.
Direction: Long
Support: 20,400
Resistance: 20,050 and 21,172
