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July 14th 2019 - Institutional 🏦 Positions & Supply/Demand for Gold, Oil and the FOREX market

The positions below represent the institutional positions held as of July 9th 2019!

📊 In the Markets: The data and charts this week are painting a clear picture of what is likely to come in the weeks ahead. There is a clear bias for the #dollar to drop and the #eurusd to rally. Although those two don’t have clear data showing us that these moves will come, what we can see clearly are the supply and demand forces currently in play on both of their weekly charts. Knowing that these forces were created and in play supports what we are also seeing on the other pairs.

The #dollar pairs show a clear bias for a drop to continue. The #usdjpy has cleared a path for a move lower and with higher timeframe forces pushing price downwards, this will clearly be the way to trade this pair. As for the #usdcad it’s the data that shows us extreme weakness for the charts as positions went from bullish to bearish in a fairly short amount of time. Then we take a look at the #usdchf and we can see a momentum shift taking place on the monthly charts and completed on the weekly, all to the downside, so this again support a weaker #dollar in the weeks to come. With this being noted, there exists a slight chance to see a rally on the #dollar pairs only because some of the pairs are also reacting from some demand on their charts. This demand could also be broken should the institutions drive price through them and this is very reasonable since we can see them starting to accumulate a short position.

Looking at the $gbpusd it has clearly been bearish and the future holds the same sentiment but for now there exists a strong chance for a rally to take place. This combined with the #nzdusd and #audusd profit taking theme in play both support a move higher on the #eurusd since again, it has some demand that is currently putting pressure on price. #Gold is also looking like it’s ready to move higher but we see signs of profit taking and if it continues would likely cause price to drop. There is demand located just below price so we would expect this demand to be used to propel price back upward and beyond.

Interesting times again for the markets and we will learn a ton from what takes place next but we can see that there is a bias that is spread throughout all the majors so we will stick with this bias unless something changes.

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