The positions below represent the institutional positions held as of June 11th 2019!
📊 In the Markets: There are a lot of uncertainties in the markets these days. We have profit taking that begun a few weeks back and retracements that have fallen short of achieving contact with higher timeframe zones before reversing. It’s hard to explain the level of difficulty there is to predict the exact movement of price during this phase we are experiencing. We know what the higher timeframes force are telling us but when prices momentum slows down because of ranging or reacting from profit taking, price can literally do just about anything. This is why we wait for certainties to present themselves in the markets, opposing zones being removed of lower timeframes zones hitting and being in play with structure on the charts. These scenarios allow our analysis to be on point because of these scenarios.
When looking at the #dollar pairs we see the ascending structures holding, except for the #usdjpy and we know the reason for that is because the major forces are pushing downwards but on the other dollar pairs we have upwards forces in play and the bias remaining bullish. Only thing is that we have been experiencing a lot of profit taking on long positions recently and long positions were recently somewhat aggressive. So you can see the complexities of this situation and how it is causing an unclear situation.
The #gbpusd, #audusd and the #nzdusd have clear evidence that price wants to move lower and coupled with the dollar pairs ascending structure holding it slightly strengthens the idea of the dollar strengthening and the other pairs weakening. I will remain with these uncertainties for now until stronger evidence presents itself but it’s important to know where we are at with price and understand fully the risks involved in engaging it.
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