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:

The higher-timeframe picture resembles the following:

Weekly TF: The break seen below the weekly demand area at 1.31037-1.32262 likely signals a continuation move down to the weekly demand area at 1.26591-1.28010.

Daily TF: A solid daily close has been seen below the daily demand area 1.31037-1.31755, this could very likely force price to test the daily demand area at 1.27541-1.28676 (located around the weekly demand area at 1.26591-1.28010).

4hr TF: The Euro dropped like a rock yesterday due to negative news announcements. We saw price slam through not only the round number 1.31 level, but also the 1.30 level as well!

With that being said, we are, at the time of writing trading thirty pips or so away from reaching the next area of interest which so happens to be a combination of the round-number level 1.29, and a 4hr S/D flip area at 1.28970-1.28590 (P.A confirmation buy level set just above at 1.29056), but with the mighty NFP announcement due out later today, we’re taking no chances here, and placing only P.A confirmation levels! If, once again negative numbers are seen, a break below the aforementioned areas could well be seen forcing prices all the way down to a beautiful- looking 4hr demand area at 1.27541-1.27904.

Upon breaking the huge-figure number 1.3 (a P.A confirmation sell level has been set just below at 1.29950) there were likely unfilled sell orders left there by pro money indicating a rally could be seen up to this level to fill these orders (dependent on news of course) sometime today.

Pending orders/P.A confirmation levels:

  • The pending buy order (Green line) set just above 4hr demand (1.31037-1.31278) at 1.31333 has been stopped out.
  • New P.A confirmation buy levels (Red line) are seen just above the round number 1.29/4hr S/D flip area (1.29/1.28970-1.28590) at 1.29056. Confirmation is required here since there is no logical level to place a stop-loss order that is close enough to allow good risk to reward.
  • 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 1.30 at 1.29950. We have placed a P.A confirmation sell level here simply because these round-number levels are prone to deep tests (spikes) that regularly stop traders out, so confirmation is essential here for us.

EURUSD 4HR

Quick Recap:

With the huge decline in value seen, we are now watching the following levels for a reaction during the mighty NFP announcement: Buy orders are seen around the round number/4hr S/D flip area (1.29/1.28970-1.28590) at 1.29056, likewise, sell orders are seen around the huge-figure number 1.3 at 1.29950.

  • Areas to watch for buy orders: P.O: No pending buy orders are seen in the current market environment.P.A.C: 1.29056 (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: 1.29950 (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:

The higher-timeframe picture resembles the following:

Weekly TF: The weekly demand area at 1.64589-1.66339 has well and truly been consumed, this potentially allows for the sellers to now challenge the weekly R/S flip support level at 1.62591.

Daily TF: Price is now firmly trading within a daily demand area at 1.62510-1.63401, which is beautifully located just above the aforementioned weekly R/S flip support level; could we be seeing higher prices from here? If so, expect active sellers to be lurking around the daily D/S flip resistance area at 1.64589-1.64949.

4hr TF: Negative news saw prices take a tumble, which literally looks like a cliff edge on the 4hr timeframe! At the time of writing price is trading within a 4hr demand area at 1.62998-1.63256 (located within the daily demand area at 1.62510-1.63401). We would, in usual market conditions consider going long (@ market) here, but since the mighty NFP is due out today, we’ll hold fire and wait to see if we can enter on a retrace if buying is indeed seen here.

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 has been removed since this area failed to be confirmed.
  • 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:

After the recent decline in value seen on the pound, price is now trading within a 4hr demand area at 1.62998-1.63256, which is where we’re looking to enter long if, and only if buying interest is proved here, as don’t forget we have the unpredictable NFP announcement due later today!

  • 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.

 

AUD/USD:

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.

4hr TF: Both 4hr supply areas (0.93509-0.93370/0.93866-0.93728) have in our opinion been consumed, potentially clearing the way up to at least the round number 0.94 (P.A confirmation sell level set just below at 0.93971). With high volatility expected today, we’re looking at either trading the aforementioned round number, or if negative numbers come in, we believe buying pressure will be seen around the 4hr fakeout area at 0.92619-0.92780 (P.A confirmation buy level set just above at 0.92807). The reason we have not set any orders/levels around the round number 0.93 is because price will very likely spike/fake through this level down to the aforementioned 4hr fakeout area, as pro money will likely be looking to collect as much liquidity as they possibly can during highly volatile times such as the NFP.

Pending orders/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 the 4hr fakeout area (0.92619-0.92780) at 0.92807. We prefer to go with confirmation levels during highly volatile times such as the NFP, as good positions can easily be stopped out by a deep spike.
  • The pending sell order (Green line) set just below a 4hr supply area (0.93509-0.93370) at 0.93341 has been stopped out
  • New P.A confirmation sell levels (Red line) are seen just below the round number 0.94 at 0.93971. Confirmation is required here since there is no logical area for a stop-loss order to be set that is close enough, so as per usual regarding round numbers, confirmation is in order.

AUDUSD 4HR

Quick Recap:

The key areas/levels to watch for are the round number 0.94 ((P.A confirmation sell level set just below at 0.93971) seen just above current price, since price appears relatively clear to reach this level now, and also the 4hr fakeout area at 0.92619-0.92780 (a P.A confirmation buy level is set just above at 0.92807, which will likely be hit if negative numbers are seen during the NFP announcement due later today.

  • Areas to watch for buy orders: P.O: No pending buy orders are seen in the current market environment. P.A.C: 0.92807 (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: No pending sell orders are seen in the current market environment P.A.C: 0.93971 (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:

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 no 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: The recent buying has pushed prices even deeper into the daily supply area at 106.946-105.083, and at the time of writing there seems to be no interest in taking things lower for the time being.

4hr TF: With little interest being seen by the sellers on the higher timeframes (price is located within higher-timeframe supply areas – Weekly: 105.432-104.065, Daily: 106.946-105.083), we believe with the right trade management, i.e. closing the trade if, price goes against you, we can safely look at taking some long positions. Price has formed a 4hr fakeout area at 104.732-104.931, the reason it’s a fakeout area is simply because price ‘faked’ below the round  number 105 before taking off north, and consuming the sellers around the high marked with a blue arrow at 105.301, this is very likely the work of pro money. So with this in mind we’re looking at taking a long entry around the 104.954 level.

Pending orders/P.A confirmation levels:

  • New pending buy orders (Green line) are seen just above the 4hr fakeout area (104.732-104.931) at 104.954. The reason we have set a pending buy order here is because price will likely see a first-time reaction around this area, since the sellers are already consumed above the high marked with a blue arrow at 105.301, potentially clearing the path north.
  • 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 round number 105 at 104.957 has been removed since price has traded too far from the entry level, making this trade invalid.

USDJPY 4HR

Quick Recap

  • Areas to watch for buy orders: P.O: 104.954 (SL: 104.686 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.

 

EUR/GBP:

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 below 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, which price has very nearly hit already.

4hr TF: The 4hr supply area at 0.79778-0.79664 was clearly not enough to repel the buying onslaught recently seen. The market seems to be ‘resting’ for now, as price is currently ranging (Pink rectangle) between the high 0.79950, and the low 0.79789.

A break out of the temporary 4hr range will likely encourage buying up to the round number 0.8, big-figure levels such as this are usually huge magnets to price! Nevertheless, what we’re drawn to for the time being is the 4hr supply area above at 0.80151-0.80085 (a pending sell order is set just below at 0.80068) for two reasons:

  1. This area is begging to be spiked, as the round number highly likely has an unimaginable amount of stop orders set just above, and also not forgetting the breakout buyers’ orders also. So a fakeout above this round number into the aforementioned 4hr supply area would likely give pro money liquidity in which they would need to sell, simply put, buy orders for their sell orders.
  2. Notice that the 4hr supply area is the last fresh area below where supply was already consumed (The supply consumption is depicted with the black-dotted down trendline – pro money likely consumed supply as price was dropping, essentially clearing the path north for any buying), as all the levels above are very likely consumed, making this area a place where pro money were very likely active, indicating there may well be unfilled sell orders still lurking there.

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

EURGBP 4HR

Quick Recap:

A key area we’re watching at the moment is a 4hr supply area just above the round number (0.8) at 0.80151-0.80085 (a pending sell order is set just below at 0.80068) which is prime for a first-time reaction. A breakout above the 4hr range (0.79950/0.79789) would likely force a fakeout above the round number up to the aforementioned 4hr supply area, since pro money would be able to accumulate a truck-load of liquidity within this move for possible selling.

  • 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:

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.

4hr TF: The 4hr timeframe shows that selling pressure dried up when the market tested the 4hr demand area at 1.08553-1.08681, which in turn saw a beautiful to-the-pip bullish reaction, triggering our P.A confirmation buy level located just above at 1.08715. The subsequent rebound rally produced a potential bullish close, but the only way to find out if the buying was legit, and not just traders covering their short positions, will be to see a close above the round number 0.9. This would give us the confidence to allocate a pending buy order in place of the P.A confirmation buy level.

Taking all of the above into consideration, current price is trading around impressive higher-timeframe supply areas (Weekly: 1.10522-1.09996, Daily: 1.09967-1.09401) at the moment, so expecting a huge rally higher at the moment may be a little too ambitious for the time being.

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 4hr demand (1.08553-1.08681) at 1.08715 is now active. For this area to be confirmed the buyers must close price above the round number 0.9, only then will we consider setting a pending buy order in the market.
  • 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:

A rebound seen off of the 4hr demand area at 1.08553-1.08681 triggered our P.A confirmation buy level at 1.08715. For us to set a pending buy order around this area, we need to see a close above the round number 0.9, if one is not seen, no buy orders will be getting placed as the risk is too high in our opinion.

  • Areas to watch for buy orders: P.O: No pending buy orders are seen in the current market environment. P.A.C:1.08715 (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: 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:

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).

4hr TF: The sellers around the round number 0.92 were clearly strong enough to repel anything the buyers had to throw at them from the 4hr demand area at 0.91761-0.91872, so strong in fact; a break below this area was seen, stopping us, and no doubt countless other traders out in the process!

With price breaking this 4hr demand area, the path south is likely very clear down to at least the 4hr demand area at 0.91376-0.91478 (a pending buy order is set just above at 0.91494). Be that as it may, the higher timeframes tell a slightly different story in that the horizon is likely clear of any troublesome supply areas at the moment. So, was this break below the 4hr demand area just a fakeout? A break, and close above the round number could very well mean this was a fakeout, however, if the sellers successfully push price down from the round number, we can likely expect follow-through selling down to the 4hr demand area at 0.91376-0.91478.

Pending orders/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 has been stopped out.
  • 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 just above the 4hr demand area (0.91761-0.91872) at 0.91494 has been stopped out within a few pips. If price closes above the round number 0.92, we can likely expect the break below (that stopped us out) the aforementioned 4hr demand area was a possible fakeout, on the other hand, if sellers repel price from the round number, we could then likely see a drop down to the 4hr demand area at 0.91376-0.91478 (a pending buy order is set just above at 0.91494), as most of the demand has already likely been consumed around the 4hr demand area at 0.91761-0.91872.

  • 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)

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.

4hr TF: Gold has begun to show some strength, as traders have bought price within the 4hr demand area at 1258.40-1264.53. We have closed half of our buy position (1262.48) at the first take-profit target set at 1273.07, and will let the other half run, on the possibility that price may break above the 4hr S/R flip level resistance at 1273.07, and continue to trade higher.

At the time of writing, active selling is being seen off of the 4hr S/R flip resistance level just mentioned, hinting sellers may bring price back down to the aforementioned 4hr demand area. So for us, it remains a waiting game, oh what fun!

Pending orders/P.A confirmation levels:

  • The pending buy order (Green line) set just above 4hr demand (1258.40-1264.53) at 1262.48 is now active. Our first take-profit level has been hit at 1273.07, so do keep an eye on our second take-profit target set at 1285.27.
  • 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 is now currently seen reacting off of the 4hr S/R flip resistance level at 1273.07 (which was our first take-profit target on our long position taken at 1262.48), if selling continues here, we could see a second touch of the 4hr demand area at 1258.40-1264.53, yet we would prefer price to continue to trade higher for obvious reasons!

  • Areas to watch for buy orders: P.O: 1262.48 (Active) (SL: 1256.40 TP: [1] 1273.07 [2] 1285.27) 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.