For the readers’ benefit:

Price action confirmation: Simplymeans 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-timeframe picture resembles the following:

  • Weekly TF: After a solid close below weekly demand at 1.32940-1.34847, buyers and sellers are now seen battling it out within the weekly demand area below at 1.31037-1.32262.
  • Daily TF: Price is now trading just within a fantastic-looking daily demand area at 1.31037-1.31755. We are prepared for lower prices deeper into this daily demand area, but ultimately we do expect higher prices to be seen in the end.

Price did indeed close above the round number 1.32, and we reported in the last analysis, if price did this, we would then consider entering long around the 4hr demand area at 1.35599-1.31879. The only thing that put us off regarding going long is that the buyers could not form enough strength to close above the high marked with a blue arrow at 1.32093.

A full-bodied bearish candle has been seen trading deeper into the aforementioned 4hr demand area indicating possible weakness, this move has pushed prices deeper into both the weekly and daily demand area (levels above). If we see a break below 4hr demand, this could force price to test a beautiful-looking 4hr demand area at 1.31037-1.31278 (a pending buy order is set just above at 1.31333), which if does happen, we will then be trading around the lower limits of the aforementioned higher-timeframe demand areas.

Pending orders/P.A confirmation levels:

  • New pending buy orders (Green line) are seen just above 4hr demand (1.31037-1.31278) at 1.31333. We strongly believe a first-time reaction will be seen here due to where price is located on the higher-timeframe picture (Weekly demand: 1.31037-1.32262. Daily demand: 1.31037-1.31755).
  • No P.A confirmation buy levels (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 levels (Red line) are seen just below the 4hr D/S flip area (1.33360-1.33619) at 1.33322. The reasoning behind setting a P.A confirmation sell level here and not a pending sell order is because we have no logical area for a stop-loss order meaning price could push straight through this area.

EURUSD 4HR

Quick Recap:

Weakness is being seen within the 4hr demand area at 1.35599-1.31879, a break below this area could likely force prices down to the 4hr demand area at 1.31037-1.31278 (a pending buy order is set just above at 1.31333),  which is beautifully located deep within both weekly demand: at 1.31037-1.32262 and daily demand at 1.31037-1.31755.

  • Areas to watch for buy orders: P.O: 1.31333 SL: 1.30988 TP: Dependent on how price approaches). P.A.C: No P.A confirmation buy levels 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: 1.33322 (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-timeframe picture resembles the following:

  • Weekly TF: There is clear selling pressure from the major weekly supply area at 1.76297-1.67702, as price has smashed through the weekly demand area at 1.66917-1.67939 with little trouble, and is now currently seen trading quite deep within the weekly demand area below at 1.64589-1.66339. Is there any chance higher prices will be seen from this weekly demand area?
  • Daily TF: Any buyers who attempted to trade the daily demand area at 1.65492-1.66044 have now likely been forced to cover their positions as a break below has been seen. The path south is very likely clear down to the daily demand area at 1.64589-1.64949, nonetheless, we are fully prepared for price to retrace up to at least the daily supply area at 1.67364-1.67105 before the aforementioned daily demand area is hit.

Technically, price has not changed much, so here is a quick reminder of what we are looking at on this pair:

With most, if not all the buyers consumed around the aforementioned 4hr demand area, the path south is now likely free down to at least the round number 1.65, but more importantly a 4hr decision-point level which is lurking just below at 1.64895 (a pending buy order is set just above at 1.64944) which is located deep within weekly demand at 1.64589-1.66339, and also just within a daily demand area at 1.64589-1.64949.

A bearish reaction has been recently seen around the round number 1.66, if we see a break below the low marked with a blue arrow at 1.65345, we will then be looking for a short-term sell around the round number level just mentioned, if, and we must emphasize the word ‘if’ here, we do not hit the round number below at 1.65 first. This is only a short-term opportunity, and we are fully aware of where price is currently located within the higher timeframe picture, so we should remain extra cautious with trades like this.

Pending orders/P.A confirmation levels:

  • New pending buy orders (Green line) are seen just above a 4hr decision-point level (1.64895) at 1.64944. The main reason we have gone with a pending buy order on this one is simply because we are currently located around a nice-looking weekly demand area at 1.64589-1.66339, and that this 4hr level remains untouched for the time being.
  • No P.A confirmation buy levels (Red line) are seen in the current market environment.
  • No pending sell orders (Green line) are seen in the current market environment.
  • No P.A confirmation sell levels (Red line) are seen in the current market environment.

GBPUSD 4HR

Quick Recap:

We currently have our eye on a short-term sell opportunity around the round number 1.66 if price breaks below the low marked with a blue arrow at 1.65345, and we do not hit the round number below at 1.65 first, we will then be looking to enter at a possible retrace at the round number 1.66. As already said (above) this is only a short-term opportunity, and we remain fully aware of where price is currently located within the higher timeframe picture (within a serious weekly demand area at 1.64589-1.66339.

  • Areas to watch for buy orders: P.O: 1.64944 SL: 1.64497 TP: Dependent on how price approaches) P.A.C: No P.A confirmation buy levels 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 levels are seen in the current market environment.

 

AUD/USD:

4hr TF.

The higher-timeframe picture resembles the following:

  • Weekly TF: Price is still frustratingly trading within a weekly consolidation area with the upper limits seen at 0.94600, and the lower at 0.92046, with no signs of a break happening just yet.
  • Daily TF: Price still remains caught trading between the daily demand area 0.92046-0.92354, and a daily decision-point level at 0.93529. A break above could see prices test daily supply at 0.94729-0.94175, conversely, a break below will likely see a push south towards a daily R/S flip level at 0.91323. Let’s also not forget, if a break below is indeed seen, this would effectively mean that price has broken below the weekly consolidation area (levels above) as well.

A break and retest of the round number 0.93 has recently been seen on the Aussie. The 4hr decision-point level below at 0.92785 remains an important level to watch in our opinion, since this was very likely the ‘area’ where pro money buyers made the ‘decision’ to push prices above the round number level.

We have placed a pending buy order (0.92807) just above the aforementioned 4hr decision-point level, as we believe a first-time reaction is likely if price reaches this far down. Current price seems to have consumed most of the sellers around the high circled in red at 0.93279, the only concern we have is that price did not break above the 4hr supply area (0.93365) marked with a blue arrow, so if/when this order gets filled, we are going to be extra aggressive with trade management.

Pending/P.A confirmation levels:

  • New pending buy orders (Green line) are seen just above a 4hr decision-point level (0.92785) at 0.92807. We have placed a pending buy order here because this level remains untouched, and Is effectively where pro money buyers likely made the decision to push prices above the round number 0.93.
  • No P.A confirmation buy levels (Red line) are seen in the current environment.
  • No pending sell orders (Green line) are seen in the current environment.
  • No P.A confirmation sell levels (Red line) are seen in the current market environment.

AUDUSD 4HR

Quick Recap:

The 4hr decision-point level at 0.92875 (pending buy order set just above at 0.92807) is looking good for a first-time reaction at the moment as current price seems to have consumed most of the sellers around the high circled in red at 0.93279, the only concern we have is that price did not break above the 4hr supply area (0.93365) marked with a blue arrow, so if/when this order gets filled, we are going to be extra aggressive with trade management.

  • Areas to watch for buy orders: P.O: 0.92807 SL: 0.92661 TP: Dependent on how price approaches) P.A.C: No P.A confirmation buy levels seen in the current market environment.
  • Areas to watch for sell orders: P.O: No pending sell orders seen in the current market environment. P.A.C: No P.A confirmation sell levels seen in the current market environment.

 

USD/JPY:

4hr TF.

The higher-timeframe picture resembles the following:

  • Weekly TF: Buyers and sellers are now firmly trading around a beautiful-looking weekly supply area at 105.432-104.065. We will definitely begin looking for shorts now and any long positions will need confirmation as we could see some very serious selling take place either this week or the next.
  • Daily TF: A break above the daily supply area at 104.104-103.802 has been seen. This likely indicates a lot of the traders who attempted to fade this area with their stop-loss order too close have been stopped out. The path north appears to be relatively clear up to the daily supply area at 104.831-104.505. However before this area gets hit, we must be prepared for a drop down to at least the daily R/S flip level at 102.713 since pro money may not have enough liquidity to push prices higher from here.

Current trading action appears to be confined between the 4hr high/resistance at 102.264, and a minor 4hr support level at 103.738 for the time being. The daily timeframe shows there is room for price to move above to hit daily supply at 104.831-104.505, while on the weekly timeframe we have just hit the lower base of weekly supply at 105.432-104.065.

With the above in mind, a break above the 4hr resistance level at 104.264 is what we’re looking to see, this could trigger buying interest up to around the 4hr supply area at 104.831-104.591 (a pending sell order is set just below at 104.568) which is where a likely first-time reaction will be seen.

However, in these markets, being prepared is crucial to one’s success! Therefore, a break below the 4hr minor support level at 103.738 would likely imply selling interest from the weekly supply area (mentioned above) has already begun, and we see very little in their way down to at least the round number 103 (a P.A confirmation buy order is set just above at 103.037).

Pending/P.A confirmation levels:

  • No pending buy orders (Green line) are seen in the current market environment.
  • P.A confirmation buy levels (Red line) are seen just above the round number 103 at 103.037. The reason we have not set a pending buy order here is simply because pro money could either perform a deep test of this level, or ignore this level altogether.
  • New pending sell orders (Green line) are seen just below 4hr supply (104.831-104.591) at 104.568. The reasoning behind setting a pending sell order here is simply because this area remains untouched, and is located within both weekly supply at 105.432-104.065 and also daily supply at 104.831-104.505 as well.
  • No P.A confirmation sell levels (Red line) are seen in the current market environment.

USDJOY 4HR

Quick Recap:

Trading action is currently confined within a small range (104.264/103.738), a break above, would likely see prices testing 4hr supply (a pending sell order is set just below at 104.568) at 104.831-104.591, conversely a break below could likely force price down to around the round number 103 where we also have a P.A confirmation buy level set ready and waiting at 103.037.

  • Areas to watch for buy orders: P.O: No pending buy orders are seen in the current market environment.  . P.A.C: 103.037 (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: 104.568 (SL: 104.873 TP: Dependent on how price approaches). P.A.C: No P.A confirmation sell levels are seen in the current market environment.

 

EUR/GBP:

4hr TF.

The higher-timeframe picture resembles the following:

  • Weekly TF: Two weeks ago a spike/wick was seen just above the weekly decision-point area at 0.80328-0.79780, indicating that some of the sellers around this area have been consumed, which also likely means price is now free to hit the weekly supply area above at 0.81397-0.80809.
  • Daily TF: The same spike/wick seen on the weekly timeframe, is exactly the same on this timeframe (above daily supply at 0.80328-0.80024), meaning the path north is likely clear now up to the daily S/R flip level at 0.80809 (the lower base of the weekly timeframe supply area – see above), however before price can be pushed higher, pro money will need sell orders to buy into, and at the moment this does not seem to be the case. A decline in value may well be seen down to the next fresh daily demand area at 0.78117-0.78533 which is nicely located within the weekly demand area at 0.76931-0.78623.

Temporary 4hr support is currently being seen around the 0.79533 level. A push up from here landed the buyers straight into an area of 4hr supply (0.79778-0.79664) where we expected active sellers to be waiting, which seems to be the case at the moment.

If a break above the aforementioned 4hr supply area is seen, price will likely fill the gap, and maybe then trade up to a sexy-looking 4hr supply area at 0.80151-0.80085, the round number 0.8 below this area will likely be faked past in order to reach true supply, so be aware of this if anyone is thinking of shorting this round number if/when price reaches this level. However, if we see a break below temporary 4hr support at 0.79533, things will get interesting, the path south looks relatively clear down to at least the 4hr decision-point level at 0.79189, but what really takes our fancy is the 4hr demand area below at 0.79037-0.79139 (pending buy order set just above at 0.79155) since from this area, the buyers consumed sellers not only around the high 0.79385, but also the high 0.79795 (marked with arrows) making this area a juicy one indeed!

Pending/P.A confirmation levels:

  • New pending buy orders (Green line) are seen just above 4hr demand (0.79037-0.79139) at 0.79155. The reason we have placed a pending buy order here is simply because the buyers consumed sellers not only around the high 0.79385, but also the high 0.79795 (marked with arrows) making this area a juicy one indeed!
  • P.A confirmation buy levels (Red line) are seen just above a 4hr decision-point level (0.79189) at 0.79215. The reason for setting a P.A confirmation buy level, and not a pending buy order is simply because this level has seen a touch already indicating some of the buyers may have been consumed, thus weakening this area, hence the need for confirmation on this one.
  • No Pending sell orders (Green line) are seen are seen in the current market environment.
  • No P.A confirmation sell levels (Red line) are seen in the current market environment.

EURGBP 4HR

Quick Recap:

For the time being price is capped between a 4hr supply area at 0.79778-0.79664, and a minor 4hr support below at 0.79533. A break above could very likely see price testing a nice 4hr supply area at 0.80151-0.80085, conversely, a break below could see price trading all the way down to a 4hr decision-point level at 0.79189 (P.A confirmation buy order set above at 0.79215), or with a little more effort from the sellers, the juicy-looking 4hr demand area just below at 0.79037-0.79139 (pending buy order set above at 0.79155)

  • Areas to watch for buy orders: P.O: 0.79155 SL: 0.78953 TP: Dependent on how price approaches).P.A.C: 0.79215 (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: No pending sell orders are seen in the current market environment. P.A.C: No P.A confirmation sell levels are seen in the current market environment.

 

USD/CAD:

4hr TF.

The higher-timeframe picture resembles the following:

  • Weekly TF: A push higher into a small weekly supply area at 1.10522-1.09996 has been seen, any traders with longs still open should be watching their positions carefully, because some serious selling could be seen from here!
  • Daily TF: On the daily timeframe however, price shows we could still see higher prices up to daily supply at 1.10522-1.10133 which is located very deep within the aforementioned weekly supply area.

A nice rally in price has recently been seen, and at the time of writing, price seems to have faked past the 4hr decision-point level at 1.09865 up to the heavy-weight round number 1.1 area. From here, selling interest came into the market, although at first it looked convincing, we believe we may still be set for a move higher (remember the daily timeframe – room for price to move above).

With the above in mind, think for a moment how many stops are set just above the round number level, and also the amount of breakout buy orders situated just above. Pro money knows this, and we are fairly confident they will take advantage of this liquidity offering.

This is what we see happening: sometime soon, pro money buyers will push price hard north past the round number and up to a small 4hr supply area at 1.10388-1.10163. What this will do is stop out any traders attempting to fade the round number level, these stops will automatically become buy orders, and also with the push above the round number, the breakout buyers’ orders have been triggered. Considering our location on the higher timeframes (Supply – see above), pro money will be looking for buy orders to sell into, this is there liquidity, and they will very likely have of it there by stopping out a lot of unhappy traders!

Sorry if the above is a bit of a mouthful! In essence we still expect higher prices!

Pending/P.A confirmation levels:

  • No pending buy orders (Green line) are seen in the current market environment.
  • P.A confirmation buy levels (Red line) are seen just above the round number 1.09 at 1.09040. We have not placed a pending buy order here simply because pro money could test (deep spike) this area, and also there is no logical area (that is close enough) for a stop-loss order to be set.
  • Pending sell orders (Green line) are seen just below a 4hr supply area (1.10388-1.10163) at 1.10127. This area remains fresh, and likely contains unfilled sell orders indicating a bounce south at the very least will be seen if/when price reaches this area.
  • No P.A confirmation sell levels (Red line) are seen in the current market environment.

USDCAD 4HR

Quick Recap:

In short, we are still expecting higher prices up to around the 4hr supply area at 1.10388-1.10163 faking above the round number 1.1 level in the process. If this does come to fruition, be prepared for a nice decline in price!

  • Areas to watch for buy orders: P.O: No pending buy orders are seen in the current market environment. P.A.C:1.09040 (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: 1.10127 (SL: 1.10440 TP: Dependent on how price approaches) P.A.C: No P.A confirmation sell levels are seen in the current market environment.

 

USD/CHF:

4hr TF.

The higher-timeframe picture resembles the following:

  • Weekly TF: A close above the weekly decision-point level at 0.90927 has been seen (keep an eye on a possible retest of this level as support). Any sellers around this area have now very likely been stopped out, and on this timeframe the path north appears to be clear up to around the weekly supply area at 0.94546-0.93081.
  • Daily TF: Price has broken above the daily supply area at 0.91556-0.90985. Looking to the left of current price, there is nothing but ‘wicky’ price action indicating supply consumption i.e. no sellers left up to around the daily supply area at 0.94546-0.93448, however before this happens we must be prepared for a decline in value down to at least the daily S/D flip area at 0.90372-0.90042.

Our first target (0.91429) has been hit from our short position (0.91637) set just the 4hr supply area at 0.91892-0.91668. Right now price seems to be temporarily capped between this 4hr supply area and a minor 4hr R/S flip level at 0.91429. If a break below the minor 4hr R/S flip level is seen, a move down to the 4hr demand area at 0.91025-0.91177 is highly likely to happen. Conversely a break above the 4hr supply area could see price testing the round number level 0.92 just above. So, for the time being, it’s a waiting game on this pair.

Pending/P.A confirmation levels:

  • No pending buy orders (Green line) are seen in the current market environment.
  • No P.A confirmation buy levels (Red line) are seen in the current market environment.
  • No P.A confirmation sell levels (Red line) are seen in the current market environment.
  • The pending sell order (Green line) set just below 4hr supply (0.91892-0.91668) at 0.91637 is now active. Our first take-profit target has been hit at 0.91429, so do keep an eye on our second take-profit level set at 0.91177.

USDCHF 4HR

Quick Recap:

Price is currently capped between the 4hr supply above at 0.91892-0.91668, and a minor 4hr R/S flip level at 0.91429. A break below here is what we want to see (we currently have a short position at 0.91637), price will then very likely be free to hit the 4hr demand area at 0.91025-0.91177, however in the event price does trade higher above the aforementioned 4hr supply area, the round number 0.92 will be likely seeing some action!

  • Areas to watch for buy orders: P.O: No pending buy orders are seen in the current market environment. P.A.C: No P.A confirmation buy levels are seen in the current market environment.
  • Areas to watch for sell orders: P.O: 0.91637 (Active) SL: 0.91941 TP: [1] 0.91429 [2] 0.91177 [May be subject to change]) P.A.C: No P.A confirmation sell levels are seen in the current market environment.

 

XAU/USD (GOLD)

4hr TF.

The higher-timeframe picture resembles the following:

  • Weekly TF: Price still remains trading between the weekly supply area above at 1391.97-1328.04 and a nice-looking weekly decision-point level below at 1244.04 with no attempt of a breakout yet to be seen.
  • Daily TF: Serious buying interest from the daily S/R flip level at 1277.36 has recently been seen. If the buyers are intent on taking things higher, their first obvious area of trouble will likely be around the daily decision-point level at 1318.96.

A strong full-bodied breakout above the temporary 4hr range (1273.07-1283.13) has just happened. Where can price go from here though? Buying interest is being seen off of a daily S/R flip level (levels above) so selling right now is not for us.

If buyers are intent on taking prices higher, there appears to be only consumed supply/sell orders – take note of the wicks (marked with the blue arrows), up until around the 4hr supply area at 1319.28-1314.48. However for pro money to push prices up that far they will very likely need liquidity in the form of sell orders to buy into, so a drop back down to the range support (marked with a green arrow at 1283.13) will no doubt entice sell orders into the market from the momentum, which pro money buyers will happily gobble up! As we are not sure of this area, a P.A confirmation buy level is set just above at 1283.60, as we would like pro money buyers to confirm they are interested in taking things higher here!

Pending/P.A confirmation levels:

  • Pending buy orders (Green line) are seen just above 4hr demand (1258.40-1264.53) at 1266.09.  The reason a pending buy order has been set here, is because this area in our opinion remains the overall origin of a big rally to the upside, likely meaning there are a lot of unfilled buy orders siting in and around this area.
  • New P.A confirmation buy levels (Red line) are seen just above the temporary range support (1273.07-1283.13) at 1283.60. The reason we have not set a pending buy order here is because there is nothing really stopping price from dropping deeper into the aforementioned 4hr range, hence the need for confirmation on this one.
  • No pending sell orders (Green line) are seen in the current market environment.
  • No P.A confirmation sell levels (Red line) are seen in the current market environment.

GOLD 4HR

Quick Recap:

The buyers have pushed price above the temporary 4hr range (1273.07-1283.13), and the only logical area of supply we see on this timeframe is way above at 1319.28-1314.48, so what we’re watching for is a retest of the range support (1283.13 – marked with a green arrow) before much higher prices are seen (a P.A confirmation buy level set just above at 1283.60).

  • Areas to watch for buy orders: P.O: 1266.09 (SL: 1256.40 TP: Dependent on price approach) P.A.C: 1283.60 (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: No pending sell orders are seen in the current market environment. P.A.C: No P.A confirmation sell levels are seen in the current market environment.