September 9, 2018 - Institutional Positions & Supply and Demand for the Majors, Gold and Oil!

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

Last week’s price action has shifted the bias somewhat as there starts to accumulate evidence that the #dollar might start getting stronger in the coming weeks. It all started with the breakdown of the monthly and weekly demand zones on the $audusd. Now we’ve know that the likelihood of the $audusd dropping was high but there existed at one time the possibility that the tested monthly demand could have brought in a move upwards, considering the situation with the #usdollar, but now that the monthly demand has been taken out we have to respect that and consider that this move could be foreshadowing a move higher on the #dollar. When trying to determine the likelihood of this happening we also must look at the other pairs to determine a case for this and what I am finding is indeed there can be a strong argument built on a stronger #dollar taking place sooner rather than later. So let’s examine why.


When we look at the $nzdusd we can see there is nothing to stop price from dropping from here one, when we examine the #dollar pairs ($usdcad, $usdjpy and $usdchf) we can see signs pointing toward a strong dollar with momentum shifts taking place and weekly demand about to come into contact on the Franc. These signs must be respected because they are happening for a reason. It may be a bit too early to put the direction in stone but we must be aware that this is happening going into this week.


In terms of signals being presented, there is a good chance that the $audusd will present a short signal this week and when examining the forces and momentum in play a short is exactly what we want to be looking for. This chart is ideal for a short and the conditions should be noted and remembered so that you will recognize what makes a trade work well. Also watching the $gbp pairs for potential long signals to present themselves.


Very tough markets out there currently but hopefully things will become clearer soon. Have a safe one out there traders; hope this report is helpful to your trading!


Magic Trader



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