For the readers’ benefit:

Price action confirmation: simply means traders will likely wait for price action to confirm a level by consuming the opposing supply or demand area, then entering a trade on a possible retracement, this may occur on the lower timeframes also.

Pending orders: means pending orders are likely seen.


EUR/USD:

Weekly TF.

Taking into consideration the last weekly analysis, a weak bullish reaction had been reported. Last week saw the buyers take over; resulting in a beautiful-looking tail being formed in the process. This occurred within demand at 1.34770-1.36771, resulting in higher prices likely being seen this week.

Price is currently still trading between the demand area already mentioned, and supply above at 1.42470-1.38580.

eurusdweekly

Daily TF.

Price had reacted beautifully off of demand at 1.34770-1.35557, coming within around 10 pips or so of supply at 1.37342-1.36890, resulting in a positive close above the S/R Flip level at 1.36432.

eurusddaily

4hr TF.

This pair saw fairly volatile price action on Thursday and Friday. A new demand area at 1.35036-1.35312 formed in the process, with price closing for the week below minor resistance at 1.36666.

With major players in Europe (France/Germany/Switzerland) and Australia on holiday today, do not expect much price action to unfold. However, do remain aware that there are a few high-impacting news events due out, mainly in Australia, so do keep an eye on those.

  • Pending buy orders (Green line) are seen at 1.35378 just above demand at 1.35036-1.35312 as there may be unfilled buy orders sitting there. P.A confirmation buy orders (Red line) are visible just below the round number 1.36000 at 1.35924. A pending order is not logical around this level because previous price action indicates there may be limited unfilled orders available here, making a reversal unlikely. Price is more likely to test the lower demand already mentioned at 1.35036-1.35312 for an overall bigger push up as indicated by the higher timeframes.

 

  • Pending sell orders (Green line) are seen at 1.36955 just below supply at 1.37235-1.37005 due to the fact that this level remains untouched, and unfilled orders are likely still around this area. P.A confirmation sell orders (Red line) are seen higher up at 1.37405 just below supply at 1.37749-1.37450. This level requires confirmation because of how close the supply areas (levels above) are together, thus making a logical target area unavailable. Do be on your guard with these orders; the higher-timeframes are indicating higher prices may be seen this week.

eurusdh4

  • Areas to watch for buy orders: P.O: 1.35378 (SL: 1.34971 TP: [1] 1.36000 [2] 1.36666) P.A.C: 1.35924 (SL: Decided if/when price ‘confirms’ the level T.P: Decided if/when price ‘confirms’ the level).
  • Areas to watch for sell orders: P.O: 1.36955 (SL: 1.37270 TP: [1] 1.36666 [2] 1.36000) P.A.C: 1.37405 (SL: More than likely at 1.37791 TP: Dependent on where price ‘confirms’ the level).
  • Most likely scenario: Due to major players in Europe being on holiday today, price will likely trade between supply above at 1.37235-1.37005 and the round number below at 1.36000.

GBP/USD:

Weekly TF.

On this timeframe, price seems to be very indecisive. Last week saw price trade within the range of the previous weeks high and low (1.68822-1.66930) making it very difficult to analyze this pair’s next movement.

Price remains trading at the top of the long-term consolidation area at 1.67980 and supply above at 1.76290-1.70490.

gbpusdweekly

Daily TF.

The low 1.67353 marked with an arrow has seen the majority of buyers consumed by sellers around this area. Near term demand is seen at the S/R flip level below at 1.66631, while near-term supply is seen above at 1.69963-1.69514. There is a small supply area at 1.69210-1.68697 (not marked) which is likely invalid, at least for a touch trade. The wick (circled) has likely consumed a lot of the supply/sellers around this area, making this a very risky trade indeed.

gbpusddaily

4hr TF.

Like the Euro, this pair saw quite volatile price action Thursday and Friday, with price closing just below the round number 1.68000 at 1.67992. The minor S/R flip level seen below at 1.67686 is currently capping price to the downside with supply above at 1.68822-1.68708 capping price to the upside.

  • Pending buy orders (Green line) are seen below at 1.65874 just above demand at 1.65518-1.65827. This area shows great potential due to the momentum away from the base indicating unfilled orders may still be in play. The next pending buy order (Green line) is seen just above the round number 1.67000 at 1.67043, this area will likely see a reaction due to the amount of credible touches this level has seen, making it an area to watch out for. Small P.A.confirmation buy orders (Red line) are seen below at 1.67727 just above the minor S/R flip level (1.67686), a pending order set here would be too risky, due to there being no logical area for a stop loss, that is why it is better to wait for price to ‘confirm’ this area beforehand.
  • Pending sell orders (Green line) are visible below supply (1.68822-1.68708) at 1.68673 due to the nice-looking momentum away from this area indicating unfilled order may still be hiding there. P.A confirmation sell orders (Red line) are seen at 1.69696 just below supply at 1.69963-1.69726. The reason this level requires confirmation is due to all those wicks spiking the area as price left the base (circled) warning us sellers may have already been consumed.

gbpusdh4

  • Areas to watch for buy orders: P.O: 1.65874 (SL: 1.65472 TP: Dependent on approaching price action nearer the time) 1.67043 (SL: 1.66527 TP: [1]1.67686 [2] 1.68000 [3] 1.68708) P.A.C: 1.67727 (SL: Decided if/when price ‘confirms’ the level T.P: Decided if/when price ‘confirms’ the level).
  • Areas to watch for sell orders: P.O: 1.68673 (SL: 1.68846 1 TP: [1] 1.68000 [2] 1.67686) P.A.C: 1.69696 (SL: More than likely will be at 1.70030 TP: Dependent on where price ‘confirms’ the level).
  • Most likely scenario: Price will likely trade down to the minor S/R flip level at 1.67686 possibly seeing a reaction, then trading in between the S/R flip level just mentioned and supply above at 1.68822-1.68708 for the remainder of the day.

 

AUD/USD:

Weekly TF.

The buyers have made yet another attempt at the weekly S/R flip level (0.93718). Last week’s action saw price closing above the previous week’s high (0.93294) at 0.93341, a close above the high is irrelevant in this situation, due to price trading right into resistance (level above). Pro money are likely accumulating a position with  this ranging action, but the big question is, where are they planning to take price to after they’ve finished accumulating their positions?

audusdweekly

Daily TF.

Price remains capped within a medium-term consolidation between supply at 0.94468 – 0.93758 and demand below at 0.92054 – 0.92633. The circled wick indicates most of the sellers may have been consumed there, as a result a push higher is likely possible on this timeframe, but also remembering that the weekly time frame is trading around resistance at 0.93718, a fakeout north to collect liquidity may happen on the daily timeframe to bring prices south, as higher timeframes normally overrule lower timeframes.

audusddaily

4hr TF.

Price is presently trading in between the D/S flip area at 0.93186-0.93345 and supply above at 0.93729-0.93572. Retail buy and sell orders are seen between these two areas just mentioned, so our orders should not be set there.

A break above supply (levels above) could force price to test the supply area above at 0.94253-0.94040, as most of the supply between this area is likely consumed due to the wick in between (circled), allowing price to rally without meeting too many sellers. A break below demand (levels above) could see price testing the round number 0.93000.

  • At the time of writing there are no pending buy orders available due to current price action. P.A confirmation buy orders (Red line) are seen at 0.92231 just above demand at 0.92037-0.92203. It would be too risky to set a pending order here, since there have been some very deep spikes into this demand area (levels above), meaning there could be few buyers left here, so, it’s better to wait for confirmation. The next batch of P.A confirmation buy orders (Red line) are visible just above the round number 0.93000 at 0.93025, as previous price action has shown that this area is a magnet for deep tests (spikes); we want to avoid this happening to us by waiting for confirmation.
  • Pending sell orders (Green line) are seen just below supply (0.94253-0.94040) at 0.94021. This supply area, although not fresh, has only seen a small test to the lower base meaning there are likely active sellers lurking within, permitting pending orders to be set.

 

audusdh4

  • Areas to watch for buy orders: P.O: No pending orders are seen with current price action. P.A.C: 0.92231 (SL: more than likely will be at 0.91984 TP: Decided if/when price ‘confirms’ the level) 0.93025 (SL: Dependent on where price ‘confirms’ the level TP: Dependent on where price ‘confirms’ the level)
  • Areas to watch for sell orders: P.O: 0.94021 (SL: 0.94277 TP: [1] 0.93729 [2] 0.93345 [3] 0.93000) P.A.C: No P.A confirmation orders seen with current price action.
  • Most likely scenario: It is unlikely price will see much action today. Price will likely trade within where price is currently capped (Supply: 0.93729-0.93572 Demand: 0.93186-0.93345). If in the unlikely event price does break above supply, look for sellers to come into the market around the upper supply area at 0.94253-0.94040, conversely, a break below demand could see buyers coming into the market around the round number 0.93000.

 

USD/JPY:

Weekly TF.

This pair had an exciting week. The weekly candle recently closed showed that the buyers were in control for the majority of the trading week. Friday’s close was seen at 102.503, subsequently seeing price close above the previous monthly high at 102.365.

Price still remains capped between supply above at 105.441-104.075 and demand below (S/R flip level) at 101.254.

usdjpyweekly

Daily TF.

Price made a positive close above resistance (102.645) on the daily timeframe (shown below), opening up the possibility of higher prices up to supply at 104.114 – 103.812, coinciding with the weekly timeframe which has been seen reacting off of support at 101.254.

usdjpydaily

4hr TF.

Price is currently capped between supply at 103.055-102.742 and demand (S/R flip level) at 102.117.  A break above this supply could see price testing supply at 104.129-103.816; conversely, a break below the S/R flip level (demand) could see price testing demand at 101.427-101.660.

  • Pending buy orders (Green line) are seen just above demand (101.427-101.660) at 101.679, as this demand remains fresh and likely still hold unfilled orders. P.A confirmation orders (Red line) are seen at 102.141 just above the S/R flip level (102.117). This area may well hold, but there is always the chance of a deep spike to the round number 102.000 below, which could stop us out, so the best bet is to wait for added confirmation.
  • Pending sell orders (Green line) are visible at 102.980, deep within supply (103.055-102.742), and just below the round number 103.000. The supply area may well be weak now, but the way price reacted at the circled area indicates pro money activity, meaning sell orders may be left unfilled there.

usdjpyh4

  • Areas to watch for buy orders: P.O:101.679 (SL: 101.404 TP: [1] 102.000 [2] 102.742) P.A.C: 102.141 (SL: Likely to be set at 101.925 TP: Decided if/when price ‘confirms’ the level).
  • Areas to watch for sell orders: P.O: 102.980 (SL: 103.108 TP: 102.117, but may well change if the market sees any developments). P.A.C: No P.A confirmation orders seen with current price action.
  • Most likely scenario: Price will likely trade within where it is currently capped (Supply: 103.055-102.742 Demand: 102.117) bearing in mind major players in Europe and Australia are on holiday today.

 

EUR/GBP:

Weekly TF.

A deeper spike below demand at 0.80848-0.81668 has been seen, no doubt this move stopped out a lot of buyers in the process. If most of the buyers have been consumed here, this means the path is clear to the next demand area below seen at 0.79596-0.80299, however price may still retrace all the way back up to supply at 0.84000-0.83286 before the lower demand area is visited.

At the time of writing, price still remains capped between demand at 0.80848-0.81668 and supply at 0.84000-0.83286.

eurgbpweekly

Daily TF.

The daily timeframe shows how the tail seen on the weekly may well be just a fakeout south to gather liquidity. Look at the circled tail, notice how close price came to touching demand seen at 0.80348-0.80576, this area could be what pro money was using to facilitate a fakeout unknown to any long-term traders just following the weekly timeframe and above.

Price is now capped between supply (S/R Flip level) at 0.81430 and demand below at 0.80348-0.80576.

eurgbpdaily

4hr TF.

Price reacted beautifully off of demand at 0.80612-0.80777, no doubt leaving buy orders unfilled around that area. Buyers then smashed through the round number 0.81000, and then retested it on Friday with the market closing be at 0.81195.

  • Pending buy orders (Green line) are seen at 0.80543 just above demand at 0.80348-0.80511 as this will be the likely level pro money pushes price down to if they want to collect more liquidity for a bigger push up. P.A confirmation orders (Red line) are seen at 0.80741 sitting within demand at 0.80612-0.80777, there will likely be orders left unfilled here, but with a great-looking demand area (levels above) lurking just below, it becomes a too risky for a pending order as price could very easily fake this demand area to the one below. The last P.A confirmation buy order is above the round number 0.81000 at 0.81017, this area will likely see a deep spike through it and no logical area for a stop loss order, hence the need for a more confirmed entry.
  • Pending sell orders (Green line) are spotted just under fresh supply (0.81751-0.81627) at 0.81612 due to the area being fresh giving the impression orders may still remain unfilled there. P.A confirmation orders (Red line) under the S/R flip level 0.81403 at 081393 is an area where a reaction is likely, however there were too many wicks north seen marked with arrows, indicating sellers are drying up, thus, the need to wait for more confirmation.

eurgbph4

  • Areas to watch for buy orders: P.O:0.80543 (SL: 0.80328 TP: [1] 0.81000 [2] 0.81403) P.A.C: 0.80741 (SL: Likely to be set at 0.80586 TP: Decided if/when price ‘confirms’ the level) 0.81017 (SL: Decided if/when price ‘confirms’ the level TP: Decided if/when price ‘confirms’ the level).
  • Areas to watch for sell orders: P.O: 0.81612 (SL: 0.81784 TP: [1] 0.81403 [2] 0.81000) P.A.C: 0.81393 (SL: Will be likely set at 0.81564 TP: Will be likely set at the round number 0.81000).
  • Most likely scenario: Price will likely trade in between the round number 0.81000 and the S/R flip level 0.81403 during the lower-volume sessions, a break may be seen once London opens up, but, do keep in mind two major players are on holiday in Europe today (France and Germany).

 

USD/CAD:

Weekly TF.

The last weekly analysis reported price would possibly retrace all the way down to demand below at 1.05609-1.07372, however, price has found, what appears to be, strong support (S/R Flip level) at 1.08438 creating an S/R flip level. The bulls definitely took charge last week as the most recent weekly candle engulfed 3 prior weekly candles north.

usdcadweekly

Daily TF.

The sellers do not seem to be interested in taking prices lower just yet, we have seen a few spikes (wicks) in and around supply at 1.10039-1.09356, but no positive lower closes have been seen yet. As per this timeframe, there is no clear direction; either the supply area just mentioned needs to be consumed, or the minor support below at 1.08142 needs to be consumed to give us some idea of where price may be heading next

usdcaddaily

4hr TF.

The S/R flip level at 0.09408 has seen multiple spikes north, consuming the majority of sellers there, possibly clearing the path for more buying due to the confirmed support on the weekly at 1.08438 and with the sellers appearing to struggle at on the daily timeframe at supply (1.10039-1.09356), higher prices may be seen up to supply at 1.10039-1.09875.

  • At the time of writing there are no pending buy orders seen, there are, however, P.A confirmation orders (Red line) seen just above demand (1.08142-1.08330) at 1.08348 as there may be orders left unfilled here, a pending order is not wise here due to how deep price penetrated the level before (marked with an arrow). Near-term P.A confirmation orders at 1.09063 just above demand at 1.08907-1.09047 may still have unfilled orders lurking around this area. The reason a pending order may not be logical here, is because of the big figure 1.09000 within the demand area just mentioned may see a deep spike south which does happen regularly, so pro money can stop out traders with stops too close and collect lots of liquidity.
  • Pending sell orders (Green line) just below supply (1.10039-1.09875) at 1.09851 will very likely see a nice reaction. However, we should remain aware of the big figure number 1.10000 is lurking within the top half of the supply area (levels above), so a bigger stop may be required!

 

usdcadh4

  • Areas to watch for buy orders: P.O: There are no pending buy orders seen in the current market environment. P.A.C: 1.08348 (SL: Likely to be set at 1.08127 TP: Decided if/when price ‘confirms’ the level) 1.09063 (SL: Likely to be set at 1.08882 TP: Decided if/when price ‘confirms’ the level).
  • Areas to watch for sell orders: P.O: 1.09851 (SL: 1.10114 TP: [1] 1.09408 [2] 1.09047) P.A.C: There are currently no P.A confirmation orders seen in the current market environment.
  • Most likely scenario: Higher-timeframes indicate higher prices may be seen, so a retracement down to demand at 1.08907-1.09047 will likely happen. Price will likely trade in between the demand area just mentioned, and the S/R flip resistance area above at 1.09408, until volatility picks up, which may mean waiting until Tuesday.

 

USD/CHF:

Weekly TF.

Stacked demand is seen at 0.85500-0.82750 and 0.85670 – 0.88360, whilst stacked supply is also seen above at 0.99190 – 1.00530 and 0.99710 – 0.97460.

Price formed a nice-looking bearish pin bar on this timeframe, indicating sellers were in control for the majority of the last trading week, with price closing near its lows at 0.89354.

usdchfweekly

Daily TF.

A nice-looking engulfing bar was printed on Thursday indicating we may see lower prices very soon. Price is currently capped between demand (S/R flip level) at 0.88501 and supply above at 0.91563-0.90844, a visit to the supply area is more likely since we have recently seen price reacting off of weekly demand (above) at 0.85670-0.88360.

usdchfdaily

4hr TF.

Price is currently trading between supply at 0.90381-0.90033 and demand below at 0.88973-0.89168.

A break above supply could see price test oncoming supply at 0.91339-0.91116 (not shown on chart –too far above), and, a break below demand could see price testing the daily S/R flip level at 0.88501.

  • There are no safe pending buy orders seen at the time of writing. P.A confirmation orders (Red line) are seen just above the daily S/R flip level (0.88501) at 0.88533. This level needs to see some confirming price action before any entry is placed in the market, due to their being no logical area for a stop loss order. Near-term P.A confirmation buy orders are seen within demand (0.88973-0.89168) at 0.89029, just above the round number 0.89000, as price may retrace to demand to collect unfilled orders left on Friday.
  • Pending sell orders (Green line) are seen at the base of supply (0.90381-0.90033) just above the round number 0.90000 at 0.90063. Unfilled sell orders are likely lurking around this area due to the way price turned, it was a quick reaction possibly meaning not all pro money orders were filled. There are no P.A confirmation orders currently seen in the market.

usdchfh4

  • Areas to watch for buy orders: P.O: There are no pending buy orders seen in the current market environment. P.A.C: 0.88533 (SL: Decided if/when price ‘confirms’ the level TP: Decided if/when price ‘confirms’ the level) 0.89029 (SL: Likely to be set at 0.88784 TP: Decided if/when price ‘confirms’ the level).
  • Areas to watch for sell orders: P.O: 0.90063 (SL: 0.90412 TP: [1] 0.89168 [2] 0.88501) P.A.C: There are currently no P.A confirmation orders seen in the current market environment.
  • Most likely scenario: Price will likely stay trading within supply at 0.90381-0.90033 and demand at 0.88973-0.89168, If a break is seen below, watch for buyers to come into the market around the daily S/R flip level at 0.88501. Conversely, if a break above supply is seen this could see price testing oncoming supply at 0.91339-0.91116.

XAU/USD (GOLD)

Weekly TF.

Gold is still currently trading within a range, supply being seen at 1495.00 – 1419.68, and demand at 1156.85 – 1194.53. Gold has been trading within this range since 2012 with a break of either area yet to be seen.

xauusdweekly

Daily TF.

Price is trading within demand at 1238.51-1254.97; however, buyers are showing very little interest in taking price higher from this level up towards the S/R flip level at 1277.36. A break below the demand area just mentioned could see price drop hard, possibly testing support at 1182.01.

xauusddaily

4hr TF.

Gold on the higher timeframes produces clean price action, easily definable by zones and levels. Price is currently trading between minor support at 1240.66 and supply above at 1268.03-1260.87. The minor support level just mentioned is a great level to be faked into demand at 1231.56-1237.57. A break above supply (levels above) could see price testing either the S/R flip level at 1273.34 or supply above this level at 1293.47-1285.52.

  • Pending buy orders (Green line) seen above demand (1231.56-1237.57) at 1238.61 as pro money will likely fakeout the minor support level at 1240.66 into demand below (levels above). At the time of writing there are no P.A confirmation orders seen in the market.
  • Pending sell orders (Green line) are seen just below supply (1293.47-1285.52) at 1284.53, as this level will likely see a reaction due to a serious supply/demand imbalance around this area. P.A confirmation orders (Red line) just below supply (1268.03-1260.87) at 1260.24 require confirmation to enter short here due to previous price action (circled) possibly consuming some of the sellers as it left the zone. P.A confirmation orders just under the S/R flip area (1273.34) at 1272.96 will likely see a reaction, be that as it may, there is no logical area for a stop, so confirmation is required.

xauusdh4

  • Areas to watch for buy orders: P.O: 1238.61 (SL: 1230.64 TP: 1260.87 P.A.C: There are currently no P.A confirmation orders seen in the current market environment.
  • Areas to watch for sell orders: P.O: 1284.53 (SL: 1294.70 TP: [1] 1273.34 [2] 1268.03) P.A.C: 1272.96 (SL: Decided if/when price ‘confirms’ the level TP: Decided if/when price ‘confirms’ the level) 1260.24 (SL: Will be likely set at 1269.04 TP: Decided if/when price ‘confirms’ the level).
  • Most likely scenario: Price will likely trade in between supply at 1268.03-1260.87 and demand at 1240.66 for much of today. One spot to watch out for is the demand area below the minor support (level above) at 1231.56-1237.57 as a fakeout south may be seen very soon.