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September 16, 2018 - Institutional Positions & Supply and Demand for the Majors, Gold and Oil!

Updated: Sep 17, 2018

The positions below represent the institutional positions held as of September 4, 2018!

A lot is riding on the #dollar right now. Last week we had some negative data out for the #dollar and yet price rallied, why? It was hitting the daily momentum shift demand zone and was reacting. Things is on the $usdcad and $usdjpy we can also see that their respective daily momentum shift demand zones have also been hit, the #usdcad’s demand broke through while the #usdjpy’s held and provided a move higher in the charts. So should this move up on the #usdjpy foreshadow what is to come on the #dollar. I am not to keen to think so, the $usdjpy had no opposing force pushing downwards and I have explained this in detail here so this should be considered why we saw the move up. As for the #dollar, so far it is holding its demand very well but this week we shall see if it continues to hold.

On the #eurusd daily chart, there is no daily momentum shift supply on the chart as the charts candles do not allow one to be drawn but we still experienced a drop from the area, only caused by the #dollars reaction. With the data, we can see that there is the possibility of some hedging presenting themselves to us. Still very early to know for sure but there is the first stages of it being seen now. Some positions are at aggressive total sizes, which leads on to anticipate some profit taking to be had and this again could help propel reversal in price, which is what we are expecting at this point.

Bottom line, waiting is the course of action for me on the majors. As for the cross pairs I have orders waiting to be triggered and watching for other charts to present signals. So things can change and price can present many signals in the next coming weeks. Be ready traders!

Magic Trader



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