The positions below represent the institutional positions held as of September 25, 2018!
This week’s report doesn't show much in terms of the #usdollar or #eurusd moves to come but for the #dollar cross pairs we can see great evidence of a move upwards being prepared for, especially the #usdjpy. We can also see that the #gbpusd hit its weekly demand which took control of the markets and caused weakness in the #dollar as the week came to an end.
Gold is still doing relatively nothing in terms of positions lately but I still hold onto the evidence that leads me to believe a move upwards is still expected. It will also bring some #usdollar weakness and this, alongside the #gbpusd weekly demand being in control, is what provides me some guidance on what is to come in the markets. As mentioned many times before, the weekly consolidation brings much uncertainty and so we must navigate through these conditions very cautiously. We have to rely on strong evidence to build a map for ourselves of what is likely to take place in the coming weeks as the map from the institutions simply does not exist at this time, so therefore you get the sporadic movements in price that we have been witnessing.
Needless to say, although some markets are uncertain we also have some that are opening up and producing signals. We must stay focused on those markets that are clear and try not to figure out what trade to take on those that are not. This week can produce even more signals so we must stay alert with the price action.
Magic Trader!