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: Current trading action is taking place deep within a weekly demand area at 1.31037-1.32262; a close below here could force prices down to weekly demand at 1.26591-1.28010.

Daily TF: At the time of writing, buyers and sellers are seen battling it out within a daily demand area at 1.31037-1.31755 (located deep within the aforementioned current weekly demand area). If buying interest comes into the market here, the first trouble area on the horizon is a small daily decision-point level at 1.31915 positioned just above the daily demand area. If a close below is seen, we see very little stopping price from hitting the daily demand area at 1.27541-1.28676, which is based just within the weekly demand area at 1.26591-1.28010.

The market opened (1.31273) just within the 4hr demand area at 1.31037-1.31278 (active buy order set just above at 1.31333). A valiant attempt to push prices higher was seen by the buyers forming a new minor high at 1.31443, this did not last long though as the sellers had other plans, and slammed price back down to around the 4hr demand area.

Assuming the buyers show more enthusiasm, our first take-profit target is set at 1.31833 (minor 4hr supply). Nevertheless, we still have to consider the possibility of price breaking below the aforementioned 4hr demand area.  A break below would no doubt force price to test the round number 1.31, if there are limited buy orders here, this opens the door for a challenge of the huge-figure number below at 1.3, since most of the demand has likely been consumed by the following tails/spikes: 1.30656/1.30475 (take a look for yourself, it’s a thing of beauty).

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.
  • No P.A confirmation sell levels (Red line) are seen in the current environment.

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:

4hr TF.

The higher-timeframe picture resembles the following:

Weekly TF: Current trading action shows the buyers are still showing further interest in taking prices higher. In our opinion, the first area of concern for the buyers on this timeframe should be around the weekly D/S flip area at 1.66917-1.67939.

Daily TF: Daily demand at 1.65492-1.66044 has likely 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 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 is free to move lower now, we are confident higher prices will likely be seen sometime this week.

Once the market opened at 1.65911, the buyers immediately took control, pushing price out of the previous three-day  4hr range (1.65654/1.66), and is now (at the time of writing) seen testing the upper limits (as support – [round number] 1.66).

We may have found a possible short-term buy trade around this 4hr area (we do not usually trade the lower timeframes) on the 15 minute timeframe, targeting the 4hr S/R flip level at 1.66563. Watch for prices to break above the high 1.66189, and then look to play the retrace to a fresh 15 minute demand area, if no fresh demand area forms, it’s advisable to pass on the trade.

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:

A break and retest of the three-day 4hr range (1.65654/1.66), was recently seen, there’s not much to update regarding the 4hr timeframe, but there may be a long entry off of the range top (support – 1.66) on the 15 minute timeframe. Watch for prices to break above the high 1.66189, and then look to play the retrace to a fresh demand area, if no fresh demand area forms, it’s advisable to pass on the trade.

  • 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: Buyers and sellers are currently seen battling it out around the upper limits of the medium-term daily range (0.92046-0.92354/0.93529) at 0.93529. If this level gives way, then a test of daily supply at 0.94729-0.94175 is highly likely.

This pair is moving beautifully at present on the 4hr timeframe. The market opened (0.93241) lower than Friday’s close at 0.93329, and also closed below the important low marked with a green arrow at 0.93279 at the same time, potentially clearing the path south down to at least the 4hr decision-point level at 0.93053.

We have now placed a pending sell order just below the 4hr supply area (0.93866-0.93728) at 0.93629 in an attempt to catch price before it likely drops to the aforementioned 4hr decision-point level which would essentially be our first take-profit target.

If no retracement is seen back up to where we have our pending sell order set (level above), we’ll be watching two areas of demand for a reaction: 0.93053 (P.A confirmation level is set just above at 0.93076), 0.92875 (pending buy order is set just above at 0.92807).

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).
  • New pending sell orders (Green line) are seen just below 4hr supply (0.93866-0.93728) at 0.93629. The reason for placing a pending sell order here is simply because the sellers confirmed this area by consuming the majority of the buyers around the low marked with a green arrow at 0.93279 (which was a requirement to allow a pending sell order to be set), which in turn potentially cleared the path south to a 4hr decision-point level at 0.93053.
  • No P.A confirmation sell levels (Red line) are seen in the current market environment.

AUDUSD 4HR

Quick Recap:

Price has recently closed below the important low marked with a green arrow at 0.93279, meaning we are permitted to set a pending sell order just below 4hr supply (0.93866-0.93728) at 0.93629 awaiting a possible retracement. If price does fill our sell order, we’ll essentially be targeting the 4hr decision-point level below at 0.93053.

However if no return is seen, and price keeps declining, we will be watching two areas of demand for a reaction: 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: 0.93629 SL: 0.93766 TP: Dependent on how price approaches) P.A.C: No P.A confirmation sell levels are 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: In light of the recent buying activity seen on the daily timeframe, it appears pro money buyers are pushing prices higher to get the ‘best price’ within the aforementioned weekly supply area, could this mean we are going to see a touch of daily supply at 104.831-104.505?

Everything being equal , we still do expect lower prices on this pair sometime soon, even in light of the recent buying pressure seen, for the reason that price is still trading around a heavy-weight weekly supply area at 105.432-104.065.

The market opened quite a bit higher than Friday’s close (103.999) at 104.157, buyers and sellers were seen as being indecisive for a further three, four hour candles, then the buyers took charge and pushed prices up to 4hr resistance at 104.264, and as a result triggered our P,A confirmation sell level at 104.227. A break above this 4hr resistance level (which is likely judging by current price action) could likely force price to test the 4hr supply area above at 104.831-104.591 where we have a pending sell order set just below at 104.568  which is located within both weekly supply at 105.432-104.065 and also daily supply at 104.831-104.505 as well.

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.
  • The P.A confirmation sell level (Red line) set just below 4hr resistance (104.264) at 104.227 is now active. The sellers will need to confirm this level by consuming some or most of the buyers situated around the minor 4hr demand area below at 104.092 marked with a green arrow. Only then would we consider setting a pending sell order awaiting a possible retrace.

USDJPY 4HR

Quick Recap:

The 4hr resistance level at 104.264 has recently been hit, and as a result our P.A confirmation sell level has been triggered at 104.227. However, we are not holding out much hope for a reaction here judging by current price action. A push above this level will very likely see price trading towards the 4hr supply area at 104.831-104.591, where we have a pending sell order set just below at 104.568, which is located within both weekly supply at 105.432-104.065 and also daily supply at 104.831-104.505 as well.

  • 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 (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).

 

EUR/GBP:

4hr TF.

The higher-timeframe picture resembles the following:

Weekly TF: Serious selling pressure from the weekly decision-point area at 0.80328-0.79780 has quite possibly opened the door for a challenge of the weekly demand area below at 0.76931-0.78623.

Daily TF: From the daily timeframe, we can clearly see there was very little buying interest in the market last week. If the sellers are intending to bring prices even lower this week, the next area of fresh daily demand 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.

The market  opened a little higher than Friday’s close (0.79050) at 0.79112 giving traders who went long around the 4hr demand area at 0.79037-0.79139 a little hope that prices were going to rally higher (including us), ultimately though, a break south was seen (stopping us out on our buy position at 0.79155). This break has consequently forced price to test the round number 0.79 as expected, anyone who went long around this number were likely stopped out by that huge tail/spike (0.78905).

If buying interest comes into the market here, the first trouble area where active sell orders may be sitting is around the 0.79472 area. Conversely, if the aforementioned round number level gives way, then the next fresh 4hr demand area comes in 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 has been stopped out.
  • No P.A confirmation buy levels (Red line) are seen are seen in the current market environment.
  • 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 (0.79155) has now been stopped out, since price broke below the 4hr demand area at 0.79037-0.79139, and hit the round number 0.79, which is where price is currently trading at the moment. If buying interest comes into the market here, the first trouble area where active sell orders may be sitting is around the 0.79472 area. Conversely a break below the aforementioned round number could very well force prices all the way down to a 4hr demand area 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: 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.

 

USD/CAD:

4hr TF.

The higher-timeframe picture resembles the following:

Weekly TF: An impressive to-the-pip touch of the small weekly supply area was seen last week at 1.10522-1.09996. The serious selling pressure seen has very likely opened the door for a challenge of the weekly demand area below at 1.05715-1.07008.

Daily TF: However, before price can successfully challenge the aforementioned weekly demand area, the sellers will have to overcome the current buying pressure being seen around the daily S/R flip level support at 1.08277.

Unfortunately price action has been very quiet on this pair, so there’s not much to update. This could be a good time to remind ourselves of what may likely happen in the next few days or so:

After a deep test of the 4hr S/D flip area at 1.08324-1.08092, we can be pretty confident most of the buyers were consumed in that move. However, considering we are trading out of a heavy-weight weekly supply area (levels above) at the moment, and currently trading around a daily S/R flip level support (level above), we naturally expect to see lower prices still (higher timeframes usually overrule). Before this happens though, we must be prepared for a rally in price, as there are clearly active buyers around the daily S/R flip support level area at present (see daily chart). 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, since 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 support 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:

4hr TF.

The higher-timeframe picture resembles the following:

Weekly TF: Price may have already retested the weekly decision-point level at 0.90927, as last week a rather pleasant-looking bullish pin bar formed a few pips above. Does this mean we should expect higher prices this week?

Daily TF: In our humble opinion, price appears to be clear north on this timeframe. Sellers originally situated around the daily supply area at 0.91556-0.90985 have very likely been consumed, the next set of serious sell orders are seen around daily supply at 0.94546-0.93448 (conveniently located within a weekly supply area at 0.94546-0.93081).

The market opened higher than Friday’s close (0.91754) at 0.91838 above 4hr supply at 0.91892-0.91668. Anyone who read the last report on this pair will know we removed our pending sell order set just below this 4hr supply area, as both the weekly and daily timeframes were indicating more buying this week (see above).

With price breaking above the aforementioned 4hr supply area, and not hitting the round number 0.92, this could be a subtle hint that we should most likely be looking for long positions now! Think about it like this for a moment, pro money have likely cleared the sellers out around the 4hr supply area to move prices higher to at least the round number (we would not be thinking like this if we were trading around higher-timeframe supply though), but to move prices higher, they likely need liquidity (sells for their buys), so a push down to collect their unfilled buy orders around the last 4hr decision-point area at 0.91376-0.91478 will entice sellers into the market, which pro money will no doubt gobble up (whilst price is declining) to move prices higher. Do not forget, on the lower timeframes we also have small demand areas that price will completely ignore if this move is seen, thus handing more liquidity over to pro money (stops from buyers will automatically be sells, and not forgetting breakout sellers’ orders also).

So after the mouthful above, essentially we are expecting a decline in value down to around the aforementioned 4hr decision-point area, which is where we’ll be entering long (pending buy order set just above at 0.91494).

Pending/P.A confirmation levels:

  • New pending buy orders (Green line) are seen just above a 4hr decision-point area (0.91376-0.91478) at 0.91494. The reason being is this area was likely where the decision was made to push above 4hr supply at 0.91892-0.91668, hence there very well may be unfilled buy order sitting there.
  • 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.
  • No pending sell orders (Green line) are seen in the current market environment.

USDCHF 4HR

Quick Recap:

Essentially we believe higher prices will be seen on this pair. Sellers are very likely now consumed around the 4hr supply area at 0.91892-0.91668, indicating that prices may want to trade higher, so we’re looking to enter on a possible retracement around the 4hr decision-point area at 0.91376-0.91478 (pending buy order set above at 0.91494).

  • Areas to watch for buy orders: P.O: 0.91494 (SL: 0.91352 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.

 

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: Buying interest was 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. For the time being though, the buying pressure seems to be stalling around temporary daily resistance at 1289.21.

Since the market opened at 1287.10, an attempt to trade higher was seen. The buyers only managed to push prices up to as high as the 1289.80 level, which is where the sellers regained control. Even though selling is presently being seen, we still believe higher prices will eventually materialize.

Here is a quick reminder as to why we believe higher prices are likely:

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. Nevertheless, 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:

Due to minimal price movement seen, the analysis below remains very much unchanged.

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.