November 5, 2018 - Institutional Positions & Supply and Demand for the Majors, Gold and Oil!
The positions below represent the institutional positions held as of October 30, 2018!
It’s remarkable how accurate we can become when trying to determine what the institutions are planning with their positions. For instance, with the #eurusd I’ve been suggesting that what they have been planning was to off load their long positions because they were so aggressive and they did just that and now we see price rallying from demand and they are starting to add their longs again, this time I believe it is to push price higher up to give them better entries for shorts and so far that is exactly what we see taking place. How far up they will take it is the question and we can’t possibly know that at this time.
As for #oil we can see them still taking profits on their longs positions and that what I’ve been talking about for some time now. Likely we’ll see a massive shift in momentum to the down side in the weeks to come. The #dollar pairs are also showing some signs of a possible weak #dollar that could come into play. It’s tough to say by just looking at the #dollar and it’s data but when combining it with the other pairs, the possibility exists.
#Gold also looking prime for a move up, momentum is there and it can easily continue as supply seems to be under attack. The #gbpusd is a bit more difficult to determine what is taking place so I am watching for now before deciding on #gbp pair signals.
This week we could potentially see some nice movements take place as we have the #aud and $nzd rates being released and with the current situation with both of them, it’s highly possible that the release could spark a move higher on both of them. The #audusd especially is looking good for a rally. The rally in the #nzdusd has been expected for some time now ever since I wrote about it on a previous report. The idea was that their shorts were so aggressive we were expecting profit taking to cause a move higher.
Watching the markets for signals to be produced!