This Pair is still confined within where price is currently capped (Supply: 1.36687 – 1.36542, Demand: 1.35623-1.35984), and no attempt has been made to break either area yet.
Monday’s analysis reported sell orders (1.35642) were seen at the small supply area mentioned above, unfortunately, they have remained unfilled at the time of writing. The buy orders set below at 1.35984 have been triggered with little to no drawdown; the stop loss is still in position at 1.35583, with the target remaining the same at 1.36432.
If a break is seen above the supply area at 1.36687 – 1.36542, this could force price to test supply at 1.37235 – 1.37005 allowing sell orders to be placed above the round number at 1.37005, with stops above supply at 1.37289, the take profit will be decided nearer the time, as price may not give an adequate risk to reward on the trade.
- Areas to watch for buy orders: (Same as Monday’s analysis) 1.35984 (SL: 1.35583 TP: 1.36432).
- Areas to watch for sell orders: 1.36542 (SL: 1.36741 TP: 1.36000). Impending orders: 1.37005 (SL: 1.37289 TP: Dependent on future price approach).
- Most likely scenario: Price will likely rally towards the S/D flip area at 1.36513 – 1.36432 hitting the take profit at 1.36432, staying within the capped area (Supply: 1.36687 – 1.36542, Demand: 1.35623-1.35984). Once a break of either area occurs, we’ll have more of an idea on possible future direction.
Technically, not a lot has changed on this pair, price is still capped between the round number 1.67000 and supply above at 1.68158 – 1.67828, with a breach of either area yet to be seen.
The buy/sell orders remain the same as Monday’s analysis:
Buy orders are seen below the round number (levels above) at 1.66906 with stops being set at 1.66534 which is just below the daily S/R flip level (marked with a black circle), targeting 1.67828 at the base of supply (1.68158 – 1.67828).
Sell orders are seen at 1.67828, with stops being set above the supply area (levels above) at 1.68216, targeting the round number below at 1.67000.
However, if a break is seen above the capped supply area at 1.68158 – 1.67828, this could force price to test the supply area at 1.68822 – 1.68708. Sell orders could then be set at 1.68708 with stops above supply (1.68822 – 1.69708) at 1.68860, the target would have to be decided nearer the time as price may not give adequate room for profit on approach, meaning the trade would be invalid.
A break below could see price testing the daily S/R flip level at 1.66631, look for buy orders to be set just above this level at 1.66680 with stops below at 1.66470, again, like above, the take profit areas are very difficult to set without near-term approaching price action.
- Areas to watch for buy orders: 1.66906 (SL: 1.66534 TP: 1.67828). Impending orders: 1.68708 (SL: 1.68860 TP: Dependent on future price approach).
- Areas to watch for sell orders: 1.67828 (SL: 1.68216 TP: 1.67000). Impending orders: 1.66680 (SL: 1.66470 TP: Will be decided on future price approach).
- Most likely scenario: Price is capped between supply at 1.68158 – 1.67828 and demand at the round number 1.67000. This area is over 100 pips wide, therefore, price will likely stay trading within this area today, testing either area mentioned above.
The AUD was on fire yesterday, sellers were well and truly in control! No buy order was set in or around the S/D flip area at 0.92576 – 0.92774, as there was little room for a profit target judging by the current price action at the time of writing.
The sell orders set yesterday at 0.93575 have been cancelled. New sell orders have been set at 0.93186 (D/S flip area: 0.93345 – 0.93186), with the stops being set above at 0.93381, targeting the round number 0.93000 as a first target area, the second area will depend on the approach price action takes.
As reported in Monday’s analysis, buy orders are set at 0.92203 (demand [0.92037 – 0.92203]) with stops set below the round number 0.92000 at 0.91942, targets have been changed to 1. 0.93000, 2. 0.93186 due to a zone being deemed target area selected before being deemed invalid now.
- Areas to watch for buy orders: 0.92203 (SL: 0.91942 TP:  0.93000  0.93186).
- Areas to watch for sell orders: 0.93186 (SL: 0.93381 TP:  0.93000  Dependent on the way price action approaches this area).
- Most likely scenario: Price will likely spike south to demand at 0.92037 – 0.92203 triggering the buy orders seen at 0.92203. Remain extra cautious here, protecting your position as we are trading near weekly timeframe resistance at 0.93718, so be on your guard, and think about closing at the first sign of trouble.
It was reported in Monday’s analysis that the ideal situation would be to see price break/consume supply at 101.886 – 101.778, then go on to consume the next supply area above at 102.365 – 102.128, but also remaining aware at the same time, that there will be likely active sellers within this area to overcome first.
Price did consume supply at 101.886 – 101.778 yesterday and is currently seeing a bearish reaction at supply (102.365 – 102.128) just above.
The sell orders set yesterday at 102.128 have been executed, we have two obstacles to overcome (round number 102.000/S/D flip area at 101.886 – 101.778) before target 1 is hit at 101.472. It may be a good idea to take partial profit at the trouble areas just mentioned, this however, would be up to the individual trader though..
- Areas to watch for buy orders: (Same as Monday) 101.472 (SL: 101.324 TP:  102.000  102.128).
- Areas to watch for sell orders: (Active) 102.128 (SL: 102.387 TP:  101.472  100.927).
- Most likely scenario: Price will likely trade between supply at 102.365 – 102.128 and the S/D flip area at 101.886 – 101.788. More information will be available to us once a break of either area just mentioned is seen.
The buyers and sellers are currently battling it out between supply at 0.81580 – 0.81512 and demand at 0.81053 – 0.81171.
The sell orders set yesterday (0.81512, SL: 0.81605 TP: 0.81171) remain unchanged, whilst the buy orders at demand (0.81053 – 0.81171) at 0.81171 have been executed, currently targeting the supply area (0.81580 – 0.81512) at 0.81512.
A break above this supply would possibly see the buyers rally price up to the highest of the 3 stacked supply areas at 0.81823 – 0.81766, as price usually tests the extreme zones when areas are stacked similar to this. Impending sell orders will be set at 0.81766, with stops being set above at 0.81845 and a target that is dependent on approaching price action nearer the time.
- Areas to watch for buy orders: (Active) 0.81171 (SL: 0.80985 TP: 0.81512).
- Areas to watch for sell orders: 0.81512 (SL: 0.81605 TP: 0.81171). Impending orders: 0.81766 (SL: 0.81845 TP: Will be decided depending on approaching price action).
- Most likely scenario: Price will likely trade between supply at 0.81580 – 0.81512 and demand at 0.81053 – 0.81171, it is unlikely a break will be seen today, however do remember, anything can happen in the markets!
Price still remains capped between supply at 1.90089 – 1.08844 and stacked demand below at 1.07903 – 1.08286/1.08142 – 1.08330.
The sell order set yesterday at 1.08844 is now active, aiming to take profit around the weekly demand area below at 1.07274; unfortunately we are seeing a rather unpleasant drawdown at the time of writing.
Buy orders may be set at the demand area below (1.08142 – 1.08330) at 1.08330, with the stop being set below demand at 1.08114, and the target being dependent on approaching price action.
- Areas to watch for buy orders: Impending orders: 1.08330 (SL: 1.08114 TP: Dependent on approaching price action).
- Areas to watch for sell orders: (Active) 1.08330 (SL: 0.09112 TP: 1.07274).
- Most likely scenario: Price will likely see a bearish reaction here back into the range (Supply: 1.09089 – 1.08844, Demand: 1.08142 – 1.08330), but how long this takes to happen is anyone’s guess, only time will tell.
Not a lot has changed from the last analysis yesterday, concerning this pair.
Here is a quick reminder:
The daily timeframe shows we are in supply at 0.90381 – 0.89392. The 4hr timeframe shows demand at 0.89375 – 0.89459 has been consumed with a tail, stopping the majority of buyers out along the way. From here, price may rally to supply above at 0.90381 – 0.90033 with the big figure 0.90000 just below, to push prices south into 4hr demand at 0.88973 – 0.89168.
Much the same as Monday’s analysis:
- Sell orders are set at the round number 0.90000 with stops placed just above supply at 0.90398, targeting the demand are base below at 0.89168.
- Buy orders are set at 0.89168 with stops being set just below the demand area at 0.88942, targeting the round number 0.90000. The reason for this is simply because price may not reach the supply area (levels above) above and decide to drop to demand before rallying, thus allowing flexibility.
- Areas to watch for buy orders: 0.89168 (SL: 0.88942 TP: (Overall) 0.90000, but subject to change depending on price action).
- Areas to watch for sell orders: 0.90000 (SL: 0.90398 TP: 0.89168).
- Most likely scenario: Price will likely rally into supply above at 0.90381 – 0.90033 triggering sell orders at the round number 0.90000 for a possible bearish reaction.
Gold was very quiet yesterday, with little movement seen.
Much the same as yesterday’s analysis:
Near-term supply is seen at 1268.03 – 1260.87 with near-term demand being seen below at 1231.56 – 1237.57 which is just beneath daily demand at 1238.51 – 1254.97.
Sell orders are seen at 1260.87 with stops being set above supply at 1268.99, targeting the demand base (1231.56 – 1237-57) at 1237.57. This sell order may not get triggered due to their being no logical demand to the far left to push prices north as explained in yesterday’s analysis in a little more detail.
Buy orders are seen at 1237.57 with stops being set below at 1230.48, targeting the supply base (1260.03 – 1260.87) at 1260.87.
- Areas to watch for buy orders: 1237.57 (SL: 1230.48 TP: 1260.87).
- Areas to watch for sell orders: 1260.87 (SL: 1268.99 TP: 1237.57).
- Most likely scenario: Price will likely drop to the demand area below at 1231.56 – 1237.57, triggering buy orders at 1237.57 for a rally in price to be seen, as don’t forget, we’re currently trading within daily demand at 1238.51 – 1254.97.