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: Following the bullish pin-bar candle that formed on Tuesday, a move higher from there was indeed seen. Unfortunately for the bulls though, the first trouble area/level in our opinion is around the small daily decision-point level at 1.31915 positioned just above the daily demand area.

The buyers have indeed shown some interest around the 4hr demand area at 1.31037-1.31278 putting our active buy order (1.31333) nicely in the green for the time being. Price is currently seen stalling around a minor 4hr S/R flip level at 1.31515 where active sellers are clearly present. If this level gives way, then we very much expect our first take-profit level to be hit at 1.31833.

If the sellers remain too strong here, a push back down to the aforementioned 4hr demand area could well be seen. In the event that price breaks below, a test of the round number 1.31 is inevitable. 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 below, to the left of current price).

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:

With price appreciation currently being seen, we are looking for the 4hr S/R flip level at 1.31515 to break north, this will likely entice buyers to push prices up to our first take-profit target set at 1.31833. If the sellers remain too strong here, a push back down to the 4hr demand area at 1.31037-1.31278 is likely to happen.

  • 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: Ouch! Price has pushed below the weekly demand area at 1.64589-1.66339; you can just hear the sound of all those stops being filled! It’s too early to tell whether the path south is clear down to the weekly R/S flip level at 1.62591 at the moment, ideally a more prominent break needs to be seen.

Daily TF: The daily demand area at 1.64589-1.64949 has been consumed with a spike (1.64385 – much clearer on this timeframe than on the weekly). For the time being price appears relatively free to trade on down to the next fresh daily demand area at 1.62510-1.63401, which is where we will be looking to take long positions, since it’s nicely located just above the aforementioned weekly R/S flip level.

Taking into account what has just happened on the higher timeframes (see above), it’s hardly surprising that selling pressure was seen around the round number 1.65, consequently slamming price back into the 4hr decision-point area at 1.64246-1.64520 (this is why we place confirmation levels rather than pending orders on some areas).

For this decision-point area to be confirmed, the buyers would have to close above the round number 1.65, and at the time of writing this has yet to be seen. A break below here could very well see prices dropping down to a fresh 4hr demand area at 1.62998-1.63256, which is beautifully located within the daily demand area at 1.62510-1.63401.

Pending orders/P.A confirmation levels:

  • No pending buy orders (Green line) are seen in the current market environment.
  • The P.A confirmation buy level (Red line) set just above a 4hr decision-point area (1.64246-1.64520) at 1.64571 is now active. For this area to be confirmed, a close above the round number will need to be seen, we would then consider placing a pending buy order in the market awaiting a possible retrace.
  • 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:

For the 4hr decision-point area at 1.64246-1.64520 to receive consideration, price would need to close above the round number 1.65, which, at the time of writing has struggled to do so far. A break below here could very well see prices dropping down to a fresh 4hr demand area at 1.62998-1.63256, which is beautifully located within the daily demand area at 1.62510-1.63401.

  • Areas to watch for buy orders: P.O: No pending sell orders are seen in the current market environment. P.A.C: 1.64571 (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).
  • 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 trading within a medium-term range (0.92046-0.92354/0.93529). At the time of writing, the buyers are now seen putting pressure on the upper limits of this range, a break above could likely force prices to test the daily supply area at 0.94729-0.94175.

Clearly pro money was very active on this pair! Take a look at that vicious spike/wick seen consuming sellers (0.93024) around the round number 0.93 (and triggering in our P.A confirmation sell level at 0.92976) before takeoff, someone clearly wanted the path cleared above!

Minor selling interest is now coming into the market around the 4hr supply area at 0.93509-0.93370 (our pending sell order is now filled at 0.93341). Our first take-profit target is set at the round number 0.93, which at the time of writing should be hit relatively easy since we see very little demand (trouble) areas to stop it.

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.
  • The pending sell order (Green line) set just below a 4hr supply area (0.93509-0.93370) at 0.93341 is now active, so do keep an eye on our first take-profit target set at the round number 0.93.
  • The P.A confirmation sell level (Red line) set just below the round number 0.93 at 0.92976 has been removed since price has traded too far above the entry level making this trade invalid for the time being.

AUDUSD 4HR

Quick Recap:

Price has just recently traded into an area of 4hr supply at 0.93509-0.93370, and as a result our pending sell order has been filled at 0.93341. We will be looking to take partial profits around the round number 0.93, which should not be too difficult to hit, since we see very little demand (trouble) areas that will likely cause a problem.

  • 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: 0.93341 (Active) SL: 0.93533 TP: [1] 0.93 [2] 0.92785) 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: Serious buying has pushed price very deep within a weekly supply area at 105.432-104.065, with only a little interest being seen by the sellers at the moment, a break above here could likely trigger buying interest up to around the weekly supply area at 110.652-108.123.

Daily TF: A reaction around the daily supply area at 106.946-105.083 has been seen, could this be enough to bring prices down to at least the daily demand area at 103.544-103.911??

On the 4hr timeframe, the bearish reaction (105.301) is likely the cause of unfilled sell orders sitting around the lower base of the daily supply area just mentioned above. The retest of the round number level as support at 105 failed in great fashion, with price seen breaking below, and then a candle later (105.114) retesting it as resistance!

If the move above the aforementioned round number was a fakeout to collect liquidity (buy orders in this case), this would make sense, since we are still trading around higher timeframe supply areas at the moment (Weekly: 105.432-104.065, Daily: 106.946-105.083), and since the path south appears clear of any obvious 4hr demand, a move down to the 4hr R/S flip level at 104.264 could be seen.

For us, we have to play on the side of caution here, we have allocated a P.A confirmation sell level just below the round number 105 at 104.957, this will give us the chance to judge if real selling pressure has entered the market or not.

Pending/P.A confirmation levels:

  • No pending buy orders (Green line) are seen in the current market environment.
  • The P.A confirmation buy level (Red line) set just above the round number 105 at 105.028 has been removed since price traded too far below the entry level, making this trade invalid for the time being.
  • No pending sell orders (Green line) are seen in the current market environment.
  • New P.A confirmation sell levels (Red line) are seen just below the round number 105 at 104.957. The reason a pending sell order was not allocated here was simply because round numbers tend to be a magnet for deep tests, and also this round number has already seen a minor test already at 105.114, hence the need for confirmation on this one!

USDJPY 4HR

Quick Recap:

Since the retest of the round number 105 failed as support, we are now looking to play the retest as resistance (P.A confirmation sell level set just below at 104.957), since price is currently trading around higher-timeframe supply areas (Weekly: 105.432-104.065, Daily: 106.946-105.083) at the moment, and the path appears relatively clear to the downside to around the 4hr R/S flip level at 104.264.

  • 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: 104.957 (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: There is clear buying pressure being seen on this pair, and as a result, price is now trading around the weekly decision-point area once more at 0.80328-0.79780. If selling interest comes into the market here, the first trouble area we see is around the weekly demand area at 0.76931-0.78623.

Daily TF: Fresh buyers are being seen on the daily timeframe around the 0.78905 level, which in all honesty was unexpected, since we believed price would challenge the daily demand area below at 0.78117-0.78533. On this timeframe we see very little stopping price trading all the way back up to daily supply at 0.80328-0.80024.

The buying seen on the higher timeframes looks awesome on the 4hr timeframe!  Price has broken through the 4hr decision-point level at 0.79472 with relative ease and trading right up to (and breaking above) the 4hr supply area at 0.79778-0.79664. The wick/spike marked with a blue arrow at 0.79846 has possibly filled the majority of the sellers’ stops around this 4hr supply area (and also trapped breakout buyers in the process). This wick likely signals that the path north is clear up to at least the huge round number 0.8.  However, we are drawn to a fantastic-looking 4hr supply area just above it at 0.80151-0.80085 which could prove to be a nice area to fakeout to above the aforementioned round number.

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 are seen in the current market environment.
  • New Pending sell orders (Green line) are seen just below 4hr supply (0.80151-0.80085) at 0.80068. The reason we have set a pending sell order here is because we believe if/when price reaches the round number 0.8, a fakeout (spike) may be seen up to this 4hr supply area making it a great place to look for a first-time reaction.
  • The P.A confirmation sell level (Red line) set just below the 4hr decision-point level (0.79472) at 0.79456 has been removed, since price traded too far above the entry level, thus making any sell trade invalid.

EURGBP 4HR

Quick Recap:

With the current buying being seen on this pair, and the sellers likely being consumed around the 4hr supply area at 0.79778-0.79664, we’re watching the 4hr supply area a above at 0.80151-0.80085 (a pending sell order is set just below at 0.80068), the reasoning behind this is because when, or indeed if prices reaches the round number 0.8, we expect a fakeout (spike) above to the 4hr supply area just mentioned, making it a fantastic area to watch on its first-time back.

  • 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: 0.80068 SL: 0.80158 TP: Dependent on how price approaches). 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: Prices are stalling after hitting the awesome-looking weekly supply area at 1.10522-1.09996. Considering just the weekly timeframe for the moment, we still believe lower prices could be seen, since there’s very little stopping the sellers from challenging the weekly demand area below at 1.05715-1.07008.

Daily TF: A stunning to-the-pip reaction has been seen off of the daily supply area at 1.09967-1.09401. Taking into account where price is located on the weekly timeframe (see above), we very much expect prices to drop from here back down to at least the daily S/R flip level at 1.08277.

It was reported in the previous analysis, a break above the 4hr supply area at 1.09073-1.08883, and round number 1.09 likely signaled the path north was clear up to at least the 4hr S/R flip level at 1.09311, which as we can all see played out beautifully.

The sellers originally situated around the aforementioned 4hr S/R flip level were very likely filled, and are now most probably enjoying the ride down! With price consuming most of the sellers around this area, this could very well be a signal price wants to trade higher up to at least the 4hr supply area at 0.09967-1.09807. So with this in mind we have been (and still are) watching the 4hr demand area at 1.08553-1.08681, which originally had a pending buy order set just above at 1.08715, but since we are trading around some heavy higher-timeframe supply areas (Weekly: 1.10522-1.09996, Daily: 1.09967-1.09401) at the moment, we have chosen to stay on the side of caution and wait for confirmation.

At the time of writing, the buyers and sellers are seen dancing around the round number 1.09, if this level gives way (which is very possible), we will very likely then see the aforementioned 4hr demand area hit soon after.  Conversely, assuming that buyers do come into the market here, a break of the high marked with a blue arrow at 1.09418 would need to be seen for us to be interested.

Pending/P.A confirmation levels:

  • No pending buy orders (Green line) are seen in the current market environment.
  • New P.A confirmation buy levels (Red line) are seen just above 4hr demand (1.08553-1.08681) at 1.08715. The reason we have set a P.A confirmation buy level here is simply because of where price is currently located on the higher timeframes at the moment (Weekly: 1.10522-1.09996, Daily: 1.09967-1.09401).
  • 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 (1.09967-1.09807) 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:

If buying interest is seen off of the round number 1.09, we need to see price break above the high marked with a blue arrow at 1.09418 in order for us to become interested. A break below this round number could likely force prices to test 4hr demand below at 1.08553-1.08681, where we have a P.A confirmation buy order ready and waiting just above at 1.08715.

  • Areas to watch for buy orders: P.O: No pending buy orders are seen in the current market environment. P.A.C:1.08715 (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: 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 (in our opinion) seen around daily supply at 0.94546-0.93448 (conveniently located within a weekly supply area at 0.94546-0.93081).

A retest of the round number 0.92 appears to have failed, since a drop down to the 4hr demand area at 0.91761-0.91872 was seen. As price hit this area, our pending buy order was filled in the process at 0.91893. Unfortunately though, active sellers around the round number 0.92 do not seem to want to allow prices to trade higher just yet, which is something we had not anticipated when planning the trade. Ideally what we’re looking to see is price close above the round number level, and successfully retest it, this will give us more confidence to remain in the trade.

The area within the red circle is something we’re a little concerned about, as this is likely attractive to pro money. It is what we call a price void, essentially all it means is on this timeframe, if a close below the aforementioned 4hr demand area is seen, price has absolutely no areas of demand visible to stop prices from dropping.

Pending/P.A confirmation levels:

  • 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 orders sitting there.
  • The pending buy order (Green line) set just above a 4hr demand area (0.91761-0.91872) at 0.91893 is now active, so do keep an eye on our first take-profit target set at 0.92112.
  • 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:

Our pending buy order set at 0.91893 has been successfully filled, what we expect to see form here is price close above the round number 0.92, and successfully retest it, this will give us more confidence to remain in the trade. However, if price breaks below into what we call a price void (red circle), then it is highly likely price will be trading on down to the next 4hr demand area at 0.91376-0.91478.

  • Areas to watch for buy orders: P.O: 0.91494 (SL: 0.91352 TP: Dependent on how price approaches) 0.91893 (Active) (SL: 0.91743 TP: [1] 0.92112 [2] 0.92436) 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. Price is currently edging ever so closer to the lower limits of the 1244.08 area, so long positions may be a good bet at the moment.

Daily TF: A break below the daily S/R flip level at 1277.36 has been seen, consequently forcing price down to around a daily decision-point area at 1258.40-1270.30 where buying interest is currently seen coming into the market.

Following on from our previous analysis on the 4hr timeframe, price did eventually trade within the 4hr demand area at 1258.40-1264.53, which filled our pending buy order at 1262.48 with very little drawdown we are pleased to add! From a risk/reward perspective, we can likely expect a 3R winning trade if price hits our first target set just above at 1273.07, however, we will not be taking closing all the position there, we will more than likely close half and let the other run on a potential break above the aforementioned 4hr S/R flip level.

On a side note, for all our readers, please do have a look through the history of your daily charts, find daily areas of supply and demand, and try to locate either fresh 4hr or 1hr areas within, these are great places to look for trades, and it is exactly what we try to do! The only downside with this is it requires patience, which unfortunately is a hard skill to master, especially when $ are on the line!

Pending/P.A confirmation levels:

  • The pending buy order (Green line) set just above 4hr demand (1258.40-1264.53) at 1262.48, so do keep an eye on our first take-profit target set at 1273.07.
  • 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:

Price traded deeper within the 4hr demand area at 1258.40-1264.53, which filled our pending buy order in the process at 1262.48. We very much expect higher prices from here up to around the 4hr S/R flip level at 1273.07, which is where we’ll be likely taking partial profits.

  • Areas to watch for buy orders: P.O: 1262.48 (Active) (SL: 1256.40 TP: 1273.07 [may be subject to change]) 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.