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October 18, 2018 - Institutional Market Observations

It's mid week and we can see that the banks are not making any specific moves with the #dollar or the #eurusd so far. Consolidation thus continues. There are some movers in the markets like #gold, #oil, the #kiwi and #aussie. There are some cross pairs that are making some good move as well. Let's take a look at what is catching my eye this week.

GOLD ~ gold broke out of it's range and moved to the upside hitting the first weekly supply at the 1230's. If 1245.58 should break through then it becomes highly likely we'll see a much larger move higher.

BRENT OIL ~ oil hit the weekly supply zone at the 84's and serious selling took place. I'

m expecting to see the banksstart to take off their long positions from here. In fact, on the 9th of October we can see the banks already begin to close a large amount of their longs reducing positions from 653,899 to 633,117. This all took place within the weekly supply zone I have had mapped out. Oil has been on a run for some time. I forecasted this move before it was ever mde and now i believe there are very high odds we have reached the highs. Institutional trade signal has been produced to sell and has been posted in the portfolio =>

CRUDE OIL ~ this chart has also produced an #institutionaltradesignal to short. I plan to fully take advantage of this great opportunity to ride the large move down that is expected. The crude oil short looks a bit different than on Brent but the signal is still there. i also am expecting multiple signals to be produced as price makes its way lower through the chart.

#AUDUSD ~ this pair also produced an institutional short signal. The speculation on the dollar is a drop is to come but the chart on the aussie dollar suggests a drop is also about to come. Regardless, the $audusd charts structure must be respected on it's own merit. Price is reacting from a monthly demand imbalance which could provide a substantial move higher.

=> The #CFTC #CoT ( report shows bearish bias with room for the institutions to add to their shorts. I currently have orders in the market to short the reaction off the weekly supply.

When considering if the $audusd will make a good long, it's a good idea to examine the other #aussie pairs to determine if weakness is what is expected.

#AUDCAD ~ Price took out a three month distal line and thus opens the doors for more weakness to come in the future.

#AUDJPY ~ hitting monthly demand but higher time frame forces are pushing downwards from the three month supply. Weakness therefore is to come in the future.

#AUDNZD ~ this just shifted momentum on the weekly chart from upwards to downwards. room for price to drop now. Weakness to come in the future.

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