August 12th 2019 - Institutional 🏦 Positions & Supply/Demand for Gold, Oil and the FOREX market

The positions below represent the institutional positions held as of August 6th 2019!

📊 In the Markets: This past week in the markets we had #gold rallying up hard, the #dollar making a drop from supply that may be putting its monthly supply in play and many other things that we must take into consideration when forecasting what is likely to take place in the coming weeks. During this past week we did a market outlook for August 9th and had a good look at #gold and determined that it is highly likely we see it move higher. With this move higher we also examined what would likely take place with the #dollar and what we are seeing is the potential for the #dollar to move much higher than we it is at right now. We also see how the #dollar and #gold and not moving with each other, it is as if #gold has a mission to reach the higher timeframe supply we have located higher in the charts. When we look at the positions held on #gold we can see that the institutions are very aggressively long and we believe this higher timeframe supply will be used for them to take profits at. We should expect a big drop to take place from this area.

Once #gold drops it will be very likely that we’ll see the $gbp $aud $eur make their moves lower. As for the #GBPUSD we can see that short positions are very aggressive and in fact they are reaching all time limits that were reached back in October 2016 and in that time we saw a massive reversal which pushed price up higher. So although the charts suggest more downside is coming. We also have to take into consideration how bearish they already are and we must know that profit taking will have to take place at some point.

Looking at the #USDJPY we can see the first sign of the institutions actually being net short for the first time since June. We can also see that price has been slowly making its way lower and penetrating deeper into the monthly demand zone. As mentioned it’s a matter of time until this zone is removed and that will open the path for a move lower. Yen strength is one of the reason why we forecast the $AUDJPY and $GBPJPY to be two charts that present a good potential for shorts.

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