For the readers’ benefit:

Price action confirmation: simply means traders will likely wait for price action to confirm a level by consuming an 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:

4hr TF.

The higher picture resembles the following:

  • Buyers and sellers still remain trading within weekly demand at 1.34760-1.36314.
  • Trading remains capped between daily supply at 1.37297-1.36879 and daily demand below at 1.34760-1.35265.

Would you look at that! Price came within a few pips of our pending sell order set at 1.36416 and then dropped like a rock! Very frustrating!

If we think back to the last analysis where it was reported that upon a break of the low 1.36013, it was likely that price was going to get to the low 1.35746 sometime soon, however before that happens, pro money would more than likely require liquidity to push price down as far as that. So, what did we see them do? They pushed price hard north, fooling countless traders, and then sold into all those buyers giving them the liquidity they needed to possibly push price down further.

After a break of the round number 1.36000 was seen (at the time of writing), buyers and sellers are currently battling it out around the lows 1.35880, a small break below here touching the low 1.35746 would likely complete pro money’s work for this move, so be aware for this to happen soon.

Pending/P.A confirmation orders:

  • No pending buy orders (Green line) are seen in the current market environment.
  • P.A confirmation buy orders (Red line) are seen just above demand (1.35018-1.35375) at 1.35417. The reason behind us placing a P.A confirmation buy order here, rather than a pending buy order is because the aforementioned demand area appears weak as deep spikes have been seen recently (marked with two arrows).
  • Pending sell orders (Green line) are seen just below the decision-point supply area (1.36632-1.36485) at 1.36416. The reasoning behind placing a pending sell order here is due to the simple fact we have seen buyers consumed lower around the lows 1.36013, thus making it a low-risk high-probability trade.
  • P.A confirmation sell orders (Red line) are seen just below supply (1.37224-1.37028) at 1.36894. A P.A.C order was selected here due to the reaction seen at the aforementioned supply area proving its validity. However, pro money may well decide to push price higher into this supply area if/when price returns to it, thus making it a risky trade for a stop above the high 1.36995 which could be very easily be stopped out if a pending sell order was set, hence the need to wait for confirmation.

EURUSD 4HR

Quick Recap:

Price action played out exactly as we expected with only one little snag, our pending sell order set at 1.36416 just below a decision point (1.36632-1.36485) was not filled in the process. Pro money sellers dropped price hard from around that area breaking the round number 1.36000, and are now seen tackling the lows 1.35880, where a break south is likely down to the next set of lows seen at 1.35746.

  • Areas to watch for buy orders: P.O: No pending buy orders are seen in the current market environment. P.A.C: 1.35417 (SL: Dependent on price action after the level has been confirmed TP: Dependent on approaching price action after the level has been confirmed).
  • Areas to watch for sell orders: P.O: 1.36416 (SL: 1.36584 TP: Dependent on price action approach).P.A.C: 1.36894 (SL: Dependent on price action after the level has been confirmed TP: Dependent on approaching price action after the level has been confirmed).

 

GBP/USD:

4hr TF.

The higher picture resembles the following:

  • Buyers are still seen deep within weekly supply territory at 1.76297-1.67702, with a little interest being shown by the sellers at the moment.
  • The daily timeframe still shows price is currently trading in no man’s land between daily supply above at 1.76297-1.73024 and daily S/R flip level seen below at 1.69712.

Sellers meant business as they smashed through the round number 1.71000 and traded right into none other than the 4hr S/R flip area at 1.70617-1.70459, where a picture-perfect bullish reaction was seen, as reported may happen in the last analysis.

Things have changed slightly from the when we analyzed this pair last, in that all the buyers need to do is to consume the majority of the sellers around the high marked with an arrow at 1.71428 which as a result would possibly clear the path right up to the round number 1.72000. (UPDATE: Price just consumed the aforementioned high).

Now we know the path may be possibly clear up to the round number 1.72000, where could price move to next? Price could very well rocket straight up to the aforementioned round number, but that would be too easy! We will likely see a bearish retracement back down to the origin of the original rally up at around the aforementioned 4hr S/R flip area (demand), before higher prices are seen.

Why would a retracement be seen after the path is believed to be clear north? If we try to think like pro money does, and consider that they want the BEST prices on every move, what would you do? Personally we would sell price hard again tempting sellers on the lower timeframes to join in on the momentum, we would then break the round number, consuming buyers and breakout sellers around there, and finally hit our destination at around the 1.70622 area. What have we done during all this apart from stopping out a bucket load of traders? We have gathered the much needed liquidity in the form of sell orders for us to buy into, thus allowing us (Pro money) to trade.

Pending/P.A confirmation orders:

  • New pending buy orders (Green line) are seen just above demand (1.70617-1.70459) at 1.70662. The reason a pending buy order has been set here is because the buyers have now proved this area by consuming sellers around the high marked with an arrow at 1.71428 thus possibly clearing the path north up to around the round number 1.72000 area. A retracement down to the 4hr S/R flip area at 1.70617-1.70459 is expected soon to gather liquidity, which should in turn fill the aforementioned pending buy order in the process.
  • No P.A confirmation buy orders (Red line) are seen in the current market environment.
  • No pending sell orders (Green line) are seen in the current market environment.
  • P.A confirmation sell orders (Red line) are seen just below the round number 1.72000 at 1.71943. We have placed a P.A confirmation sell order here simply because these psychological levels are prone to deep tests/spikes, so sometimes it is better to wait for that all important confirmation.

GBPUSD 4HR

Quick Recap:

Our P.A confirmation buy order set at 1.70662 was recently triggered, we are now permitted to set a pending buy order in exactly the same location as we expect price to yet retrace before heading on up the round number 1.72000.

  • Areas to watch for buy orders: P.O: 1.70622 (SL: 1.70423 TP: Dependent on price approach) P.A.C: No P.A confirmation buy orders are seen in the current market environment.
  • Areas to watch for sell orders: P.O: No pending sell orders are seen in the current market environment.  P.A.C: 1.71943 (SL: Dependent on price action after the level has been confirmed TP: Dependent on approaching price action after the level has been confirmed).

 

AUD/USD:

4hr TF.

The higher picture resembles the following:

  • The weekly timeframe shows price is consolidating at the moment (0.94600/0.92046) with a break out yet to be seen.
  • Buyers and sellers are currently seen trading in between daily supply at 0.95425-0.94852 and an important daily low below at 0.93208.

The sellers have indeed dropped price relatively hard as reported may happen in the last analysis. This selling should not effectively stop yet as the path is seen quite clear down until at least 4hr demand at 0.93208-0.93417.

Buyers and sellers are presently seen battling it out around the lows 0.93601, with the sellers likely coming out victorious. Bullish action is however being seen at the moment, and this will only probably last up till the minor S.R flip level at 0.93765, before sellers slam it in to 4hr demand below at 0.93208-0.93417.

Pending/P.A confirmation orders:

  • No pending buy orders (Green line) are seen in the current market environment.
  • P.A confirmation buy orders (Red line) are seen just above the decision point level (0.92566-0.92736) at 0.92775.  The reason for placing a P.A confirmation buy order here rather than pending buy order is simply because we were trading just above a daily demand ‘buy zone’ at 0.92046-0.92354, meaning pro money could very well just ignore this level completely and trade deeper into the aforementioned daily demand area, so, confirmation is the order of the day!
  • Pending sell orders (Green line) are seen just below supply (0.95425-0.95096) at 0.95052. A pending sell order is placed here due to this being an area where pro money was interested in before; see how close price came to the supply area? (Levels above), this indicates possible strong supply (selling pressure), so the next time price visits we can expect some sort of reaction.
  • The pending sell order (Green line) set just below the decision point level (0.94408) at 0.94382 is now active. Our first take-profit target has been hit at 0.93678, so do keep an eye on our second target seen within 4hr demand below (0.93208-0.93417) at 0.93360, which should be hit soon.
  • No P.A confirmation sell orders (Red line) are seen in the current market environment.

 AUDUSD 4HR

Quick Recap:

Selling activity has been recently seen on the 4hr timeframe; with the buyers only seem just showing interest around the lows 0.93601. However, we do not expect this buying activity to continue much past the minor S/R flip level at 0.93765, which is where the sellers should effectively begin hammering price down into the 4hr demand area below at 0.93208-0.93417.

  • Areas to watch for buy orders: P.O: No pending buy orders seen in the current market environment. P.A.C: 0.92775 (SL: Dependent on price action after the level has been confirmed TP: Dependent on approaching price action after the level has been confirmed).
  • Areas to watch for sell orders: P.O: 0.95052 (SL: 0.95467 TP: Depending on price approach) 0.94382 (Active-1st target hit) (SL: 0.94677 TP: [1] 0.93678 [2] 0.93360 [3] 0.93000.  P.A.C: No P.A confirmation sell orders seen in the current market environment.

USD/JPY:

4hr TF.

The higher picture resembles the following:

  • The weekly timeframe shows price is trading around a long-term S/R flip level support at 101.206 with a positive close below yet to be seen.
  • Buyers and sellers on the daily timeframe are currently trading within a range with resistance being seen above at 102.713 and daily demand seen below at 100.747-100.967.

Higher prices have indeed happened which has effectively cleared all the supply/sellers that was there originally. A bearish reaction will likely be seen around the 4hr decision-point level (supply) at 101.754 which could possibly bring prices back down to the round number area at 101.000.

The last analysis reported it best as to why we think this scenario will likely play out:

The reasoning behind this is pro money will likely want to fool as many traders as humanely possible that a new uptrend is beginning, and it’s going to take off heading right  to the moon, this way they can use all of those buy orders as liquidity to drop price (use the buy orders to sell into), meanwhile using the same traders’ stops, which are sell orders at this point to begin putting buy orders into the market in small chunks, the reason it would have to be in small chunks is to disguise their real intentions without moving price too much.

Therefore, still be prepared for a price decline, but also remain vigilant to the fact that we may see a rally higher to the 101.754 area beforehand.

Pending/P.A confirmation orders:

  • Pending buy orders (Green line) are seen just above the round number 101.000 at 101.020. The reason for setting a pending buy order here is because we are currently trading around weekly and Daily demand areas (101.206…100.747-100.967). We would not normally set a pending order around psychological levels such as these, but since we are in a great higher-timeframe location it is worth the risk.
  • No P.A confirmation buy orders (Red line) are seen in the current market environment.
  • Pending sell orders (Green line) are seen just below supply (103.294-102.983) at 102.953. A pending sell order was set here due to this being an area where likely unfilled sell orders are.
  • Pending sell orders (Green line) are seen just below a decision-point level (resistance, 101.754) at 101.696. The reasoning behind setting a pending sell order here rather than a P.A confirmation sell order is for the simple fact this area is expected to see a nice reaction due to this being the overall area where pro money sellers dropped price lower engulfing multiple lows (101.400/101.227) in the process.
  • P.A confirmation sell orders (Red line) are seen just below supply (102-191-102.104) at 102.074. A P.A confirmation order was used here purely for the simple fact we are trading around a higher-timeframe weekly support level at 101.206 meaning we may see a small reaction, but nothing to write home about, hence the need for confirmation!

USDJPY 4HR

Quick Recap:

We still fully expect a price decline sometime soon even though we have seen a positive break of the decision-point area (supply) at 101.400-101.465. We have to be prepared for the possibility of price now rallying to the decision-point level, now resistance at 101.754 before a drop down to the round number 101.000 area is seen.

  • Areas to watch for buy orders: P.O: 101.020 (SL: 100.786 TP: Dependent on price approach).P.A.C: No P.A confirmation buy orders are seen in the current market environment.
  • Areas to watch for sell orders: P.O: 102.953 (SL: 103.317 TP: Dependent on price approach) 101.696 (SL: 101.862 TP: Dependent on price approach) P.A.C:102.074 (SL: 102.214 TP: Dependent on approaching price action after the level has been confirmed).

 

EUR/GBP:

Daily TF.

We have moved the minor S/R flip level up to where price reacted at 0.79751 showing price is now capped between the aforementioned minor S/R flip level and daily demand below at 0.78862-0.79206.

EURGBP DAILY

4hr TF.

A push above the 4hr S/R flip level at 0.79679 was seen which no doubt stopped lots of traders out both attempting to fade the level and also breakout buyers attempting to buy the break.

The sellers have recently been very aggressive as they have been pushing price south, and there is very little in the way of trouble demand areas to stop them, as reported in the last analysis.  As a quick refresher, that tail marked with an arrow at 0.79251 is very important because it shows there is possibly very little demand left in and around this area. Pro money were seen rallying price higher between the 7th and 8th of July, this tail was merely sent down to collect more buyers, but in the process cleared the path for any future selling. Taking all of this into consideration a near-touch of the 4hr minor support level at 0.79139 is very much expected, with even the possibility of a fakeout past the aforementioned 4hr minor support level into true 4hr demand at 0.78862-0.79048.

Pending/P.A confirmation orders:

  • Pending buy orders (Green line) are seen just above demand (0.78862-0.79048) at 0.79076. A pending buy order is placed here due to the aforementioned 4hr demand area’s location in the higher timeframes (Within the compressed green arc  from weekly demand: 0.76931-0.78623, and daily demand at 0.78862-0.79206).
  • No P.A confirmation buy orders (Red line) are seen in the current market environment.
  • The pending sell order (Green line) set just below the S/R flip level (0.79679) at 0.79641 has been stopped out. Traders who managed this trade correctly should have got out with at least some profit.
  • No P.A confirmation sell orders (Red line) are seen in the current market environment.

EURGBP 4HR

Quick Recap:

Buyers pushed hard into and above the 4hr S/R flip level at 0.79679 no doubt stopping countless traders out in the process. The sellers are currently seen pushing price hard with little sign of slowing up yet (at the time of writing). There is very little to the left that will likely cause a problem to the sellers until they hit the lows 0.79139, even then a fakeout into 4hr demand below at 0.78862-0.79048 is possible.

  • Areas to watch for buy orders: P.O: 0.79076 (SL: 0.78846 TP: Dependent on price approach) P.A.C: No P.A confirmation buy orders are seen in the current market environment.
  • Areas to watch for sell orders: P.O: No pending sell orders are seen in the current market environment. P.A.C: No P.A confirmation sell orders are seen in the current market environment.

 

USD/CAD:

4hr TF.

The higher picture resembles the following:

  • Price is currently seen trading out of weekly demand at 1.05715-1.07008.
  • Much like the weekly timeframe above, the daily timeframe shows price is currently trading out of daily demand at 1.05874-1.06680 into a daily decision-point area at 1.07508-1.07293.

A decline in value has been seen towards the round number 1.07000, however price never hit the actual round number level as price turned around 8 pips before.

Buyers and sellers are seen trading once again around the base of the 4hr supply area at 1.07508-1.07434. Taking into consideration the higher timeframes for a moment (see above), price could very well see a positive close above the aforementioned 4hr supply area, and if this is seen, there is very little stopping price from hitting at least the round number 1.08000.

However, we do also have to be prepared for the possibility of a bearish reaction from here. Demand however, seems to be very strong around the round number 1.07000 as the sellers did not even have the strength to test the level, showing that this area possibly contains a lot of demand. To sum up, a break higher of the 4hr supply area (levels above) is more likely to happen due to where price is located on the higher-timeframes at the moment, which is unfortunate as we have a pending sell order active in the market at 1.07386.

Pending/P.A confirmation orders:

  • No pending buy orders (Green line) are seen in the current market environment.
  • P.A confirmation buy orders (Red line) are seen just above the round number 1.07000 at 1.07047. The reason a P.A confirmation order was set here was simply because we expect a retracement down to this level very soon before price continues on higher, a pending buy order would be too risky as (on this timeframe) there is no logical area for a stop loss order to be placed.
  • The pending sell order (Green line) set just below a small supply area (1.07508-1.07434) at 1.07386 is now active; keep an eye out for our first take-profit level set at 1.07000.
  • No P.A confirmation sell orders (Red line) are seen in the current market environment.

USDCAD 4HR

Quick Recap:

Sellers brought price south just missing the round number level 1.07000 (indicating strong demand around there). Buyers and sellers are once again trading just below the 4hr supply area at 1.07508-1.07434. With the higher timeframes indicating buys (Weekly demand: 1.05715-1.07008), the likelihood of the aforementioned 4hr supply breaking north is quite possible.

  • Areas to watch for buy orders: P.O: There are no pending buy orders seen within the current market environment. P.A.C: 1.07047 (SL: Dependent on price action after the level has been confirmed TP: Dependent on approaching price action after the level has been confirmed).
  • Areas to watch for sell orders: P.O: 1.07386 (Active) (SL: 1.07541 TP: [1] 1.07000 [2] 1.06749) P.A.C: There are no P.A confirmation sell orders seen within the current market environment.

USD/CHF:

4hr TF.

The higher picture resembles the following:

  • The weekly timeframe is showing price consolidating just above weekly demand at 0.85664-0.88124.
  • Daily supply at 0.90372-0.90042 has seen a lot of action over the past few weeks with no break north seen yet. Price is currently capped between the daily supply level just mentioned, and the daily S/R flip level below at 0.88608.

The buyers seem to have well and truly consumed most of the sellers around the high marked with an arrow at 0.89311. We could very well see a retracement from here down to the low 0.89103, or even back down to the round number 0.89000.

At the time of writing, price does appear to be clear of any supply trouble areas up to around the high 0.89557, again, it does seem repetitive, but it really pays to remember what the purple trendline represents (it is not to resemble a downtrend as such, it is more to show how pro money have likely consumed supply/sellers as price was dropping possibly clearing the path for a nice advance back up to the high 0.89557).

Taking all of the above into consideration, we fully expect to see higher prices very soon, but we are aware a small bearish retracement may happen before.

Pending/P.A confirmation orders:

  • The Pending buy order (Green line) set just above the round number 0.89000 at 0.89042 is still active. The first take-profit target set at 0.89243 has been hit, so do keep an eye on our second and final take-profit level at 0.89514.
  • P.A confirmation buy orders (Red line) are seen just above the low 0.88546 at 0.88586. The reason that a P.A confirmation buy order was set here rather than a pending buy order was simply because there is no logical area for a stop loss, and the low (level above) will be likely prone to deep tests, or worse, a positive break below, hence the need to wait for confirmation.
  • Pending sell orders (Green line) are seen just below the highs 0.89557 at 0.89514.  The reasoning behind setting a pending sell order here is simply because the sellers proved to us that this level is worthy by consuming the buyers around the low 0.89245, thus permitting us to set this type of order.
  • No P.A confirmation sell orders (Red line) are seen in the current market environment.

USDCHF 4HR

Quick Recap:

Our pending buy order set at 0.89042 is still active and looking in great shape! The high marked with an arrow at 0.89311 seems to be well and truly consumed, however we should be mentally prepared for a small retracement to around the low 0.89103, or even back to the round number 0.89000 before a push higher is seen

  • Areas to watch for buy orders: P.O: 0.89042 (Active – 1st take-profit level hit) (SL: 0.88886 TP: [1] 0.89243 [2] 0.89514). P.A.C: 0.88586 (SL: Dependent on price action after the level has been confirmed TP: Dependent on approaching price action after the level has been confirmed).
  • Areas to watch for sell orders: P.O: 0.89514 (SL 0.89624 TP: Dependent on price approach). P.A.C There are currently no P.A confirmation sell orders seen in the current market environment.

 

XAU/USD (GOLD)

Daily TF.

Wow, would you look at that bearish price action. The last analysis reported the following which we believe still holds very true: Price is more or less free to hit the daily supply area above at 1391.97-1366.80, but we must remember price will rarely just shoot straight there no matter how much we want It to! A bearish retracement will likely follow which could see prices testing as low as the daily demand level below at 1238.41-1254.85 before we see a touch of the aforementioned daily supply area above.

So recent price action should come as no surprise to anyone.

GOLD DAILY

4hr TF.

The market opened at 1337.83, and ever since it did, the sellers have hammered price down and down taking out multiple lows and even consuming the 4hr demand area seen at 1307.58-1315.67.

The sellers seem to hit a bit of a road block as they have been seen stalling around the low 1304.77, how long this will last, is really anyone’s guess! However we should not forget that price could effectively drop all the way down to daily demand at 1238.41-1254.85 before any big buying moves take place (marked on the 4hr chart), we are not saying this will happen, we are merely stating one scenario to keep in mind.

If we see a break of the low 1304.77, which it looks like we are going to, price could likely drop all the way down to the 4hr S/D flip area at 1284.77-1280.53, as there is nothing to the immediate left of price action that poses much in the way of possible trouble demand areas.

Pending/P.A confirmation orders:

  • The pending buy order (Green line) set just above demand (1307.58-1315.67) at 1316.64 has been stopped out.
  • P.A confirmation buy orders (Red line) are seen just above the S/D flip area (1284.77-1280.53) at 1285.71. We have set a P.A confirmation buy order here simply because we could not find a logical area for the stop-loss order, so to avoid any deep spikes; we have decided to wait for confirmation.
  • No pending sell orders (Green line) are seen in the current market environment.
  • No P.A confirmation sell orders (Red line) are seen in the current market environment.

GOLD 4HR

Quick Recap:

The market opened, and the sellers were on a mission as they hammered price down relentlessly leaving buyers with little chance of fighting back!  However, the buyers have begun to show a little interest around the low 1304.77, however not with much conviction. A break of the aforementioned low is likely to be seen soon, this could very well force price to test the 4hr S/D flip area below at 1284.77-1280.53.

  • Areas to watch for buy orders: P.O: There are currently no pending buy orders seen in the current market environment. P.A.C: 1285.71 (SL: (SL: Dependent on price action after the level has been confirmed TP: Dependent on approaching price action after the level has been confirmed).
  • Areas to watch for sell orders: P.O: There are currently no pending sell orders seen in the current market environment. P.A.C: There are currently no P.A confirmation sell orders seen in the current market environment.