April 6th 2020 - Institutional 🏦 Positions & Supply/Demand for Gold, Oil and the FOREX market
Based on the Commitments of Traders data reported on: March 31st 2020
📊 In the Markets: The volatility is coming to an end and price has re-engaged its prior agenda. There are many key things to take special note of that has been detailed in this report. We have a situation in the markets where we have some strong demand coming into play on pairs like the #audusd, #gbpusd, #nzdusd, #usdjpy and the #usdchf and then we look at the #eurusd positioning and we can see that the banks have taken some massive profits on their short positions. Does this all mean that over time we are going to experience a massive rally form from these pairs? Let’s try and remember that the pairs have been doing
their own thing in their own way these days. How so? Look at the #audusd for example; look at the drop on the weekly chart and when you also look at the #gbpusd and #eurusd you should notice how massive demand was removed with the #audusd but not with the other pairs. This suggests that downside is potentially limited.
In this report we speak more about cycles and this is a topic we touched upon in the past and as we progress through the year it will be a topic we’ll speak about in more depth. Have a read of the full report and try to put into context which cycles are playing out and their importance in revealing the next moves on the charts. Many monthly cycles are in play right now with suggests that it could take some time before the dynamics shift on these charts.
Overall we have to be careful not to choose any specific biases at this point because the cycles keeping price locked up need to play out and release price into the next cycle that we can trade within.
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