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:

Weekly TF.

The market closed (1.31307) around the weekly lows situated deep within weekly demand at 1.31037-1.32262. On this timeframe, little to no buying interest has been seen. A break below this area could very well indicate price may be heading to the weekly demand area much lower at 1.26591-1.28010.

EURUSD WEEKLY

Daily TF.

Last week, most of the trading action was seen around the base top of a daily demand area at 1.31037-1.31755 (a deep demand area within the aforementioned weekly demand area), however Friday’s sessions brought prices deeper into the aforementioned daily demand area indicating possible buying weakness here.

EURUSD DAILY

4hr TF.

The trend is predominantly south on this timeframe, so when our buy order got filled at 1.31333, we felt a little intimidated, since we usually try to take ‘with the trend’ trades. The main reason we took this trade was simply because of the where price is currently located on the higher timeframes (Weekly demand: 1.31037-1.32262. Daily demand: 1.31037-1.31755).

Assuming early next week, the buyers begin to show interest, our first take-profit target is set around the first ‘trouble’ area of supply at 1.31833. However, a break below the aforementioned 4hr demand area and round number 1.31 could likely force prices down to the huge-figure number 1.30, since there is very little obvious 4hr demand areas that would likely cause a problem to the sellers.

Pending orders/P.A confirmation levels:

  • The pending buy order (Green line) set just above 4hr demand (1.31037-1.31278) at 1.31333 is now active, so do keep an eye on our first take-profit target set at 1.31833.
  • 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.
  • The P.A confirmation sell level (Red line) set just below the 4hr D/S flip area (1.33360-1.33619) at 1.33322 has been removed since price has traded too far from the entry level for the time being.

EURUSD 4HR

Quick Recap:

Price can do one of two things in our opinion, 1. The buyers show interest from the 4hr demand area at 1.31037-1.31278 (our pending buy order has now been filled at 1.31333), and attempt to trade up to our first take-profit target set at 1.31833, or 2, break below the aforementioned 4hr demand area and the round number 1.31, and attempt to trade down to the huge-figure number 1.30, which is very possible since there is very little obvious 4hr demand areas that would likely cause a problem to the sellers.

  • Areas to watch for buy orders:P.O:1.31333 (Active) SL: 1.30988 TP: [1] 1.31833 [2] 1.32064). 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.

 

GBP/USD:

Weekly TF.

There was clear buying interest within the weekly demand area at 1.64589-1.66339 last week, which is the first in many weeks since the selling onslaught seen from the weekly supply area above at 1.76297-1.67702. The first trouble area we see for the buyers on this timeframe is around the weekly D/S flip area at 1.66917-1.67939.

GBPUSD WEEKLY

Daily TF.

Daily demand at 1.65492-1.66044 has in our opinion been well and truly consumed leaving price free to trade down to around the ‘extreme’ daily demand area at 1.64589-1.64949. However, since price is trading deep within a weekly demand area at present (see above), the push below this daily demand area could have well been a fakeout to accumulate liquidity for pro money to move prices higher, so even though price free to move lower, we are confident higher prices will likely be seen this week.

GBPUSD DAILY

4hr TF.

The 4hr price consolidation continued for three straight trading days (1.65654/1.66) last week with no positive breakout seen yet. With the higher-timeframe picture indicating longs, a positive close above the round number 1.66 is expected sometime this week; henceforth price will likely hit at least the 4hr S/R flip level at 1.66563.

However, pro money love to cause the utmost confusion to traders, and to accumulate as much liquidity as possible (sells for their buys), so we should be prepared for the possibility of the lows (1.65340) marked with a pink line to be faked down to around the round number 1.65, or the 4hr decision-point level just below at 1.64895, which is where we have a pending buy order ready and waiting at 1.64944 before higher prices are seen.

Pending orders/P.A confirmation levels:

  • 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:

The higher-timeframe charts are indicating higher prices could be seen soon, so a close above the round number 1.66 is likely. However, before this happens, pro money may push prices south to cause confusion and to collect more liquidity. Watch the lows marked with a pink level at 1.65340 to be faked down into either the round number 1.65, or the 4hr decision-point level just below at 1.64895 which is where we have a pending buy order set ready and waiting at 1.64944.

  • 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:

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.

AUDUSD WEEKLY

Daily TF.

Last week saw buyers and sellers still trading within the medium-term daily range (0.92046-0.92354/0.93529). In spite of this, A spike/wick above the aforementioned 4hr range happened on Thursday, this wick likely cleared out any remaining sellers around this area, potentially clearing the path north up to around the daily supply area at 0.94729-0.94175.

AUDUSD DAILY

4hr TF.

The selling pressure continued since price hit the 4hr supply area at 0.93866-0.93728 (and triggered our P.A confirmation sell level at 0.93711 in the process) on Thursday. A bullish reaction was seen around the 4hr minor R/S flip level at 0.93450, despite this, price continued on south down to around an important area of demand (well to us anyway) marked with a green arrow at 0.93279. For us to consider setting a pending sell order around the aforementioned 4hr supply area, a push below this low would have to be seen first, preferably without hitting the 4hr decision-point below it at 0.93053 where a P.A confirmation buy level is set just above at 0.93076.

If the low is consumed and no return is seen back up to the 4hr supply area, we’ll be watching two areas of demand for a reaction:

  • 0.93053, we’ve added a P.A confirmation buy level just above (in our opinion) this minor 4hr decision-point level at 0.93076. This area is likely where the ‘decision’ was made to break above the high 0.93450, so it remains important, however not as much as the 4hr decision-point level below it, hence only allocating a P.A confirmation buy level here for the time being.
  • 0.92785, we’ve added a pending buy order just above this level at 0.92807, this 4hr decision-point level is far more attractive since this was likely the overall origin of the entire rally higher, indicating that pro money may well just use the 4hr decision-point level at 0.93053 as a ‘dummy-fake’ level, in which to push price below to the aforementioned origin, thus attaining more liquidity in the process (sell stops from the traders attempting to fade, and not forgetting the breakout sellers’ order as well).

Pending/P.A confirmation levels:

  • 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 the overall origin of the rally higher, making this level high probability for a first-time reaction.
  • P.A confirmation buy levels (Red line) are seen just above a 4hr decision-point level (0.93053) at 0.93076. The reason for not setting a pending buy order here is simply because we believe pro money may push below this level to the overall origin of the move up (4hr decision-point level at 0.92785).
  • No pending sell orders (Green line) are seen in the current environment.
  • The P.A confirmation sell level (Red line) set just below a 4hr supply (0.93866-0.93728) at 0.93711 is now active. The sellers will need to confirm this area by consuming some or most of the buyers around the low marked with a green arrow at 0.93279, we will then consider setting a pending sell order awaiting a possible return.

AUDUSD 4HR

Quick Recap:

Our P.A confirmation sell order was triggered just below 4hr supply (0.93866-0.93728) at 0.93711 on Thursday, The sellers will need to confirm this area by consuming some or most of the buyers around the low marked with a green arrow at 0.93279 (which may happen today), we will then consider setting a pending sell order awaiting a possible return to the aforementioned 4hr supply area.

However if no return is seen, and price keeps declining, we will be watching two areas of demand: 0.93053 (A P.A confirmation buy level is set above at 0.93076)…0.92875 (A pending buy order is set just above at 0.92807).

  • Areas to watch for buy orders: P.O: 0.92807 SL: 0.92661 TP: Dependent on how price approaches) P.A.C: 0.93076 (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 seen in the current market environment. P.A.C: 0.93711 (Active-awaiting confirmation) (SL: Dependent on price action after the level has been confirmed TP: Dependent on approaching price action after the level has been confirmed).

 

USD/JPY:

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.

usdjpy weekly

Daily TF.

At the start of last week a push above the daily supply area at 104.104-103.802 was seen, this move potentially cleared out the majority of the sellers, and likely trapped a lot of breakout buyers at the same time. However, considering where price is currently located on the weekly timeframe (see above), pro money may have pushed price above the aforementioned daily supply area (fakeout) to collect as many buy orders to sell into as possible (liquidity).

USDJPY DAILY

4hr TF.

The move below the lower limits of the current 4hr range (103.738-104.264) clearly was a fakeout, and not a continuation move (103.698), since price rallied back into the 4hr range, up to around the round number 104 where price closed for the week at 103.999.

This week should prove to be an interesting one on this pair. Let’s be clear, we do expect lower prices, but when, is anyone’s guess! We could very easily see price push higher to the upper limits of the range and react beautifully (a P.A confirmation sell level is set just below at 104.227), or a further push north could be seen to a fantastic-looking 4hr supply area at 104.831-104.591, where we have allocated a pending sell order just below at 104.568.

For selling interest to be confirmed from the weekly supply area (levels above), price would need to push below the low marked with a green arrow at 103.491, we would then be looking to play the retest of the 103.738 level down to the round number 103, where we currently have a P.A confirmation buy level set 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.
  • 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.
  • New P.A confirmation sell levels (Red line) are seen just below 4hr resistance (104.264) at 104.227. A pending sell order was not set here simply because price could break above, and test a very attractive 4hr supply at 104.831-104.591.

USDJPY 4HR

Quick Recap:

With price now trading back within the 4hr range (103.738-104.264), we’re going to be watching the following levels/areas for selling activity: 104.264 (P.A confirmation sell level set just below at 104.227) – 104.831-104.591 (pending sell order is set just below at 104.568). If, however a break below the lower limits of the 4hr range is seen (103.738) price would need to push below the low marked with a green arrow at 103.491, we would then be looking to play the retest of the 103.738 level down to the round number 103, where we currently have a P.A confirmation buy level set above 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: 104.227 (SL: Dependent on price action after the level has been confirmed TP: Dependent on approaching price action after the level has been confirmed).

 

EUR/GBP:

Weekly TF.

Serious selling pressure from the weekly decision-point area at 0.80328-0.79780 was seen last week, with a full-bodied bearish candle being seen closing the week on its lows at 0.79050. Could this mean we are going to be seeing a test of the weekly demand area below at 0.76931-0.78623? Let’s take a look on the lower timeframe to see if there is any more revealing price action.

eurgbp weekly

Daily TF.

From the daily timeframe, we can clearly see there was very little buying interest seen in the market last week. If the sellers are intending on bring prices even lower this week, the next area of fresh daily demand we have on our radar is at 0.78117-0.78533 (beautifully located within weekly demand at 0.76931-0.78623) , so do keep an eye on this area for lower-timeframe price action.

EURGBP DAILY

4hr TF.

Late last week on Friday, two full-bodied bearish candles pushed price past the 4hr decision-point level at 0.79189 (Our P.A confirmation buy level [0.79215] is now invalid), consequently landing price very deep within 4hr demand at 0.79037-0.79139, as a result our pending buy order was filled at 0.79155. Price has yet to hit our stop-loss order, but the way things are looking at the moment, it does not look good for us!

A break below the aforementioned 4hr demand area this week would see prices trading around the round number 0.79, if little buying interest is shown here, price could very well be in for a very big decline in value! The tail marked with a blue arrow at 0.78873 was in our opinion a consumption tail. Pro money very likely sold price south to collect any unfilled buy orders they may have had remaining around there before continuing north. What this also did though, was cleared the path south for any selling in the future. The tail below this (marked with a lower blue arrow) appears to be a reaction off of a 4hr historical R/S flip level at 0.78763, so very few buy orders are likely left there also.

This could be way off yet, but the next fresh 4hr demand area we see is at 0.78602-0.78320, which is conveniently located within not only daily demand at 0.78117-0.78533, but also weekly demand at 0.76931-0.78623 as well.

Pending/P.A confirmation levels:

  • The pending buy order (Green line) set just above 4hr demand (0.79037-0.79139) at 0.79155 is now active, so do keep an eye on our first take-profit target set at 0.79363.
  • The P.A confirmation buy level (Red line) set just above a 4hr decision-point level (0.79189) at 0.79215 has been removed since price traded too far below the entry level.
  • 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:

Our pending buy order is now active at 0.79155 (just above 4hr demand at 0.79037-0.79139), so do keep an eye on our first take-profit target set at 0.79363. However, we must be prepared to see a break below the aforementioned 4hr demand area into the round number 0.79, and if there’s buying weakness around here, a serious decline in value could be seen all the way down to the next fresh 4hr demand area we see is at 0.78602-0.78320, which is conveniently located within not only daily demand at 0.78117-0.78533, but also weekly demand at 0.76931-0.78623 as well.

  • Areas to watch for buy orders: P.O: 0.79155 (Active) SL: 0.78953 TP: [1] 0.79363 [2] 0.79577).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.

 

USD/CAD:

Weekly TF.

An impressive to-the-pip touch of the small weekly supply area was seen last week at 1.10522-1.09996. Serious selling pressure created a new weekly low below three prior weekly lows forming what the majority of the trading world call a bearish engulfing candle, does this mean price will drop like a rock this week?

USDCAD WEEKLY

Daily TF.

We learnt to be very cautious when trading some candle patterns, take for instance here, all the weekly bearish engulfing candle has done is traded into a daily S/R flip level at 1.08277, so one should be very careful entering the market short solely based on candle patterns. For selling interest to be proven from the weekly supply area mentioned above, we would need to see a close below the daily S/R flip level mentioned above.

USDCAD DAILY

4hr TF.

The 4hr S/D flip area at 1.08324-1.08092 saw a deep test, no doubt filling a lot of the buy orders in the process, here is a snippet from the last analysis completed on Friday, since, technically not much has changed:

Considering we are trading out of a heavy-weight weekly supply area (levels above), and currently trading around a daily S/R flip level (level above), we naturally expect to see lower prices still (higher timeframes usually overrule). However, before this happens, we must be prepared for a rally in price, as there are clearly active buyers around the daily S/R flip level area. We will be watching the following areas for bearish price action: 4hr supply (1.09073-1.08883) where we have set a P.A confirmation sell level just below at 1.08856, 4hr supply (within daily supply at 1.09967-1.09401) at 1.09967-1.09807 where we have another P.A confirmation level set just below at 1.09777, and finally a fantastic-looking 4hr supply area above at 1.10388-1.10163 (pending sell order set below at 1.10127).

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.
  • 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.
  • P.A confirmation sell levels (Red line) are seen just below 4hr supply (1.09073-1.08883) at 1.08856. The reasoning behind not setting a pending sell order here was simply because price could rally all the way back up to (in our opinion) a beautifully located 4hr supply area at 1.10388-1.10163.
  • P.A confirmation sell levels (Red line) are seen just below 4hr supply (1.09967-1.09807) at 1.09777. The reasoning behind not setting a pending sell order here was simply because price could rally all the way back up to (in our opinion) a beautifully located 4hr supply area at 1.10388-1.10163.

USDCAD 4HR

Quick Recap:

We still expect lower prices considering we are trading out of a heavy-weight weekly supply area at 1.10522-1.09996. However, before lower prices are seen, we need to prepare ourselves for a rally higher due to the active buyers being seen around the daily S/R flip level at 1.08277. We will be watching the following areas for bearish price action: 4hr supply (1.09073-1.08883) where we have set a P.A confirmation sell level just below at 1.08856, 4hr supply (within daily supply at 1.09967-1.09401) at 1.09967-1.09807 where we have another P.A confirmation level set just below at 1.09777, and finally a fantastic-looking 4hr supply area above at 1.10388-1.10163 (pending sell order set below at 1.10127).

  • 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 seen in the current market environment.
  • Areas to watch for sell orders: P.O: 1.10127 (SL: 1.10440 TP: Dependent on how price approaches) P.A.C: 1.08856 (SL: Dependent on price action after the level has been confirmed TP: Dependent on approaching price action after the level has been confirmed) 1.09777 (SL: Dependent on price action after the level has been confirmed TP: Dependent on approaching price action after the level has been confirmed).

 

USD/CHF:

Weekly TF.

In our opinion, price may have already retested the weekly decision-point level (now support) at 0.90927, look at that beautiful looking bullish pin-bar candle indicating possible buying interest. Let’s take a look lower down to see if the path north is clear for more buying.

USDCHF WEEKLY

Daily TF.

For the time being the weekly pin bar looks in good shape, most, if not all of the sellers have been consumed around daily supply at 0.91556-0.90985, meaning the path north is likely clear!

USDCHF DAILY

4hr TF.

The 4hr supply area at 0.91892-0.91668 (active sell order set just below at 0.91637) has taken quite a pounding last week with Friday’s close being seen deep within at 0.91754 forming a 4hr bearish pin bar.

Both the weekly and daily timeframes are indicating possible buying will be seen this week, a break above the aforementioned 4hr supply area will likely force prices to test the round number just above at 0.92. With the new developments seen on the higher timeframes we have decided to close our active sell order at 0.91637 with a little profit locked in, and now begin to look for longs.

USDCHF 4HR

Quick Recap:

We have cancelled our active sell order set just below 4hr supply (0.91892-0.91668) at 0.91637, since we believe this area will see a break north sometime this week up to around the round number 0.92. The reason being is a retest of the weekly decision-point level support at 0.90927 seems to have already happened forming a nice-looking weekly bullish pin bar, and the daily timeframe shows most of the sellers have already been consumed around daily supply at 0.91556-0.90985, meaning the path north is more than likely clear.

  • 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: 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.

 

XAU/USD (GOLD)

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.

GOLD WEEKLY

Daily TF.

Buying interest was certainly seen last week off of the daily S/R flip level at 1277.36, if the buyers are intent on taking things higher this week, their first obvious area of trouble will likely be around the daily decision-point level at 1318.96.

GOLD DAILY

4hr TF.

Our pending buy order was filled on Friday at 1283.60 (located just above the 4hr range – 1273.07/1283.13), notice what happened after this, the wick/spike at 1291.21 (marked with a blue arrow) likely consumed any sellers around the minor 4hr supply area at 1290.51 which gives us even more confidence this buy trade will work out!

Since most of the sellers are already likely consumed around the high marked with a green flag at 1290.86, we can be pretty confident much higher prices are to come, since there appears to be only consumed supply/sell orders directly above the aforementioned high, and also newly formed swing high at 1296.38 (take note of the wicks marked with the blue arrows within the red circle indicating supply consumption), up to around 4hr supply at 1319.28-1314.48 which is where we’ll be ultimately targeting. However, just to be on the safe side, our first take-profit target is set at the high (1296.38) just mentioned, as there may still be some active sell orders sitting there.

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.
  • The pending buy order (Green line) set just above the 4hr range area (1273.07-1283.13) at 1283.60 is now active, so do keep an eye on our first take-profit target set at the high 1296.38.
  • 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.

GOLD 4HR

Quick Recap:

Our pending buy order was filled Friday at 1283.60 (located just above the 4hr range – 1273.07/1283.13), our first take-profit target is set at the high 1296.38, however, we do expect much higher prices, since there appears to be only consumed supply/sell orders directly above this high (take note of the wicks marked with the blue arrows within the red circle indicating supply consumption,) up to around 4hr supply at 1319.28-1314.48 which is where we’ll be ultimately targeting.

  • Areas to watch for buy orders:P.O: 1266.09 (SL: 1256.40 TP: Dependent on how price approaches) 1283.60(Active) (SL: 1279.67 TP: [1] 1296.38 [2] 1310.64). 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.