September 8th 2019 - Institutional 🏦 Positions & Supply/Demand for Gold, Oil and the FOREX market
The positions below represent the institutional positions held as of September 3rd 2019!
📊 In the Markets: In the markets we have some very interesting things taking place. We have the #eurusd and #nzdusd hitting all-time high position size on their shorts and we just had the #gbpusd at all-time highs and what took place with that pair is profit taking which fueled a move upwards. Considering we have demand in play on both the kiwi and euro, we can safely expect profit taking on the short positions which will push price upwards. This is the reason why we closed our theme trade on the #eurusd because of this possibility. When you look at the #dollar we can see it hit some supply and is starting to react so combining all these pieces we can see the evidence to suggest some profits will be taken and those positions being closed will fuel a reaction that will push price in the direction dictated by the forces in play.
#Gold hit the supply we had mapped out and now we are seeing the push downwards from it as the banks begin to take profits. Momentum has officially shifted on the daily chart to the downside which is exactly what we spoke about in a class we did last week. This is what we were waiting for. Now with profit taking we can expect more downside to come. Only thing to mention here is that the #euro will want to go up with profit taking and #gold will want to drop so we have two markets that usually move in the same direction be compelled to move in opposite directions. We will be watching this to see how the markets react and play out. We just might see more shorts being added to the #eurusd and it drop even further, that is a possibility, new records are only created by have old one broken!
Interesting times in the markets now! :)
🎩 Magic Trader!
🏫 White Oak University 👩🎓 Students 👨🎓 you can see the full report here: https://www.whiteoakfx.com/the-araujo-report
🚨🏆 Win a FREE month tuition paid by us by following us on Twitter @WhiteOakFX and Retweet our links and SHARE our YouTube videos to continue getting them for FREE!
👇📺🚨 Here was last weeks video provided to members 🚨📺👇