December 9th 2019 - Institutional 🏦 Positions & Supply/Demand for Gold, Oil and the FOREX market
The positions below represent the institutional positions held as of December 3rd 2019!
📊 In the Markets: The month is slowly coming to an end and this week we have big data being released. On Wednesday and Thursday we can expect to see some action on the charts. Last week we had NFP on Friday and we knew to expect a rally since the #dollar was sitting inside a demand zone. Previous to that, we had the #usdcad rate release and it caused the #cad to get stronger, which put our #cadjpy trade in the positive once again. Getting back to this week, we have the #dollar rate being released on Wednesday and we just had positive jobs data that thrust price upwards and we know after many months of examining the #dollars charts, that we are expecting for the for price to play out as all the evidence is suggesting, upwards. This is not something that could happen before Christmas though as there is much more needed for price to eventually move higher, but on the shorter
timeframes, a move upwards is definitely something we can see happening.
As for the #gbpusd, it was raging this week with full force and when you examine the data below you’ll discover that there is very strong evidence to suggest that this move higher is going to continue in the months to come. So what does this mean to the other markets? This is the big question…. and one we are working on every day. What makes this a difficult market to read is that many pairs sentiment are neutral at this point and the markets dynamics are such that price is very compressed and for us to have a better feel for what is going to take place, we need to see price break out of this compression and start to reveal evidence of where the next moves are going to take place from. We can only gather what we see currently and what we do have today suggests that the #usdjpy is going higher and the #gbpusd as well.
Looking at #gold, we have the daily supply zone in play and price dropped significantly from it and this is what market dynamics suggest would take place which means that everything is moving as we’ve expected and so therefore we continue to anticipate this movement to follow through.
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