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 EUR/USD fell the best part of last week closing near the weekly lows at 1.29498. Price broke the weekly demand area at 1.31037-1.32262 potentially clearing the way down to a prominent weekly ‘buy zone’ at 1.26591-1.28010.

EURUSD WEEKLY

Daily TF.

The daily timeframe shows price dropped like a rock on Thursday, creating a beautiful daily decision-point area (supply) at 1.31589-1.31091. Buying did come into the market on Friday, but nothing to get excited about, as all this could have been was traders taking profits on their short positions. Anyhow, this week could still see a further decline in price down to around the daily demand area at 1.27541-1.28676, since the path south appears to be relatively clear. Be that as it may, before this happens, traders should be prepared for a rally up to around the aforementioned daily decision-point area, since pro money may not have the required liquidity to push prices south any further (willing buys for their sells).

EURUSD DAILY

4hr TF.

At the time of writing, current price action appears to be confined between the round number 1.3, and the 4hr S/D flip area at 1.28970-1.28590, with the round number 1.29 being seen just above. Early this week it is very likely pro money will want to collect any unfilled sell orders left around the round number 1.3, we have a P.A confirmation sell level set just below at 1.29950 ready and waiting, we personally need confirmation at round-number levels since they are regularly prone to deep tests (spikes). If active selling is seen here, we expect a drop down to at least the aforementioned 4hr S/D flip area and round number 1.29 (located just above a daily demand area at 1.27541-1.28676) where we have yet another P.A confirmation buy level set just above at 1.29056.

If a break above is seen, we’ll be looking to take advantage of a possible retest up to an obvious 4hr supply area at 1.31589-1.31326 (which is located deep within the daily decision-point area [supply] at 1.31589-1.31326).

EURUSD 4HR

Pending orders/P.A confirmation levels:

  • 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:

Weekly TF.

A decline in value was also seen on the pound, this should come as no big surprise since the EUR/USD and GBP/USD tend to move in tandem. The weekly close came in at 1.63231, a few pips above a nice-looking weekly R/S flip level support at 1.62591. Looking at the history of this level, a bounce higher at the very least should be seen sometime this week.

GBPUSD WEEKLY

Daily TF

The selling onslaught seen on Thursday brought prices down to a daily demand area at 1.62510-1.63401 (conveniently located just above the weekly R/S flip level support at 1.62591), which is where buyers begun to come into the market on Friday creating an average-looking bullish pin-bar candle. The only way to find out if this buying pressure was legit and not just short covering would be to see a follow-through to the upside towards the daily D/S flip area at 1.64589-1.64949.

GBPUSD DAILY

4hr TF.

Current price action is consolidating around a 4hr demand area at 1.62998-1.63256, The two prominent spikes/tails (1.62858/1.62791) seen penetrating this area, and the round number 1.63 likely stopped out the majority of the traders attempting to go long around this area. Taking into consideration where price is currently located on the higher timeframes (Weekly R/S flip level support at 1.62591, Daily demand at 1.62510-1.63401), we are naturally expecting higher prices to be seen this week. Yes, the buyers are very likely consumed around this 4hr demand/round number area, which likely means price is free to hit the next area of interest, which is in our opinion down below around 4hr demand at 1.61325-1.61888. However since price is located in higher-timeframe demand at the moment, the spikes/tails below the 4hr demand area at 1.62998-1.63256 (levels above) could very well just be a fakeout to collect the much-needed liquidity for a push higher (liquidity in this case would be sell stops from the buyers stopped out, and the breakout sellers’ sell orders).

We have placed a pending buy order just above the round number 1.63 at 1.63064, since around the open, price will likely revisit this level, and continue on north up to at least the round number 1.64.

GBPUSD 4HR

Pending orders/P.A confirmation levels:

  • Areas to watch for buy orders: P.O: 1.63064 (SL: 1.62672 TP: [1] 1.64) 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.

 

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.

A close above the medium-term daily range (0.92046-0.92354/0.93529) was seen on Friday. We did initially report that if a close above this range was seen, it was very likely price would visit the daily supply area above at 0.94729-0.94175, however if one looks closely, it seems price is reacting off of a small daily decision-point level around the 0.94044 area, so we may be seeing a push back into the aforementioned daily range sometime this week.

AUDUSD DAILY

4hr TF.

Our P.A confirmation sell level (0.93971) was triggered on Friday around the round number 0.94. For this level to be confirmed, the sellers will need to break below the 4hr demand area at 0.93316-0.93473, only then will we consider setting a pending sell order awaiting a possible return.

A break above the round number could spell disaster for the sellers, here’s why: Notice the spike/wick marked with a blue arrow at 0.94024, this likely consumed the sellers around the minor supply just above at 0.94153-0.93999, and just above this area we have a pink down trend line – not to represent a trend as such, more to show how pro money were likely consuming sell orders as price was declining (look at those wicks), thus the path north will be relatively clear for any buying. The next fresh area of 4hr supply (albeit ugly looking) comes in at 0.94729-0.94436.

AUDUSD 4HR

Pending orders/P.A confirmation levels:

  • 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:

Weekly TF.

A break above the weekly supply area at 105.432-104.065 was seen last week, potentially clearing the path north up to weekly supply at 110.652-108.123. However, before we all start putting in our buy orders, a decline in value may be seen back down to the weekly R/S flip level support at 101.206, since pro money may not have the required liquidity to push prices higher just yet.

USDJPY WEEKLY

Daily TF.

From Wednesday onwards price was seen dancing around the lower base of a huge daily supply area at 106.946-105.083. Now cast your minds back to the weekly timeframe analysis, a break above weekly supply (levels above) was seen, this break could have been a fakeout into the aforementioned daily supply area. This would have accumulated a lot of buy orders for pro money to sell into here (Stops from traders attempting to fade the weekly supply area, and also the breakout buyers’ buy orders). If selling is seen this week, active buyers are expected around the daily demand area at 103.544-103.911.

USDJPY DAILY

4hr TF.

Considering where price is currently located on the higher timeframes (Weekly supply: 105.432-104.065, Daily supply: 106.946-105.083), we are naturally expecting lower prices sometime this week.  Our pending buy order set at 104.954 was stopped out within a pip or so, the spike/tail which stopped us out is very important to us (marked with a blue arrow at 104.674).  This tail likely consumed a lot of buyers, including us, potentially signaling a continuation move down to at least the 4hr R/S flip level support at 104.264.

Although we expect lower prices, we must be prepared for a short rally higher beforehand, since pro money may not have the liquidity to push prices south just yet. An area that catches our eye is the QM level marked in pink at 105.301, even though we expect a bearish reaction here, we are still setting a P.A confirmation sell level just below at 105.262, simply because placing a stop-loss order above the high 105.696 would be too far from a risk/reward perspective.

USDJPY 4HR

Pending orders/P.A confirmation levels:

  • 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: 105.262 (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.

Last week saw prices react bearishly off of the weekly decision-point area at 0.80328-0.79780, if follow-through selling is seen this week, we can likely expect prices to decline further down into weekly demand at 0.76931-0.78623.

EURGBP WEEKLY

Daily TF.

A beautiful reaction was seen around the daily supply area at 0.80161-0.79846, which consequently forced price back down to a rather mediocre daily demand area at 0.78905-0.79162. Considering the reaction here was not exactly convincing, and price is now seen pushing off of a weekly decision-point area at 0.80328-0.79780, we are expecting this daily demand area to break sometime this week, and trade on down to a fresh daily demand area at 0.78117-0.78533 which is located within the weekly demand area at 0.76931-0.78623.

EURGBP DAILY

4hr TF.

Price closed the week trading in-between a 4hr supply at 0.79950-0.79863, and a 4hr demand area at 0.78905-0.79305. This 4hr demand area will likely see a break sometime this week, because price has just traded out of a weekly decision-point area at 0.80328-0.79780, and also the weak test seen around daily demand at 0.78905-0.79162 adds confluence to a potential break lower.

Once/if price does trade lower this week, we can likely expect price to hit a 4hr demand area at 0.78602-0.78320 (conveniently located within not only weekly demand at 0.76931-0.78623 but also daily demand as well at 0.78117-0.78533), since below this area, all we see is consumed demand (The tail marked with a blue arrow at 0.78873 has very likely consumed any buy orders left around the circled demand area at 0.78729-0.78926).

EURGBP 4HR

Pending orders/P.A confirmation levels:

  • 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:

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.

USDCAD WEEKLY

Daily TF.

Last week saw buyers and sellers trading in between a daily supply area at 1.09967-1.09401, and a daily S/R flip level support at 1.08277. Ideally, we’re looking for price to break below this level, since this would very likely confirm selling strength from the weekly supply area at 1.10522-1.09996.

USDCAD DAILY

4hr TF.

The market seems to really like the 4hr S/D flip area at 1.08324-1.08092 considering the amount of times it has been tested! However, in our opinion this area does not indicate strength, think of it like this: chopping a tree with an axe too many times, it is bound to give way and eventually fall. This is similar to what is likely happening here, each touch no doubt consumes more buyers each time indicating possible weakness.

Friday saw the market test the round number 1.09, the subsequent rebound produced a potential bearish closing price, but the only way find out if the selling was legit will be to see a follow-through down towards the aforementioned 4hr S/D flip area (which is very likely to see a break). Just below this zone is a small 4hr fakeout area at 1.07948-1.08006 (it’s a fakeout area simply because price faked out below the round number 1.08 before continuing higher), we have set a pending buy order here just above at 1.08028 since when, or indeed if prices reaches here, this area will be likely good for a bounce at the very least.

USDCAD 4HR

Pending orders/P.A confirmation levels:

  • Areas to watch for buy orders: P.O: 1.08028 (SL: 1.07884 TP: Dependent on how price approaches). P.A.C:No P.A confirmation sell levels are 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: 1.09777 (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.

The weekly timeframe shows the buyers were in full swing last week, as a strong push up to the weekly supply area at 0.94546-0.93081 was seen. Will the sellers make an appearance this week and bring prices south? Only time will tell!

USDCHF WEEKLY

Daily TF.

A huge push was seen north on Thursday due to a few high-impacting news events, this push brought prices very near to around a daily supply area at 0.94546-0.93702 (located within weekly supply at 0.94546-0.93081).

On this timeframe, we believe the following could happen:

  1. Pro money attempts to push prices higher into the aforementioned daily supply area (may be difficult though if they do not have the required liquidity).
  2. Price could consolidate, pro money will push price higher and lower, enticing traders to trade the range on the lower timeframes,  at which point, pro money’s main objective would be to stop as many traders out as possible to collect the required liquidity to push prices higher (sells for their buys).
  3. Pro money may sell price hard into all those buyers who followed the bullish momentum last week. This move may potentially bring price all the way down to around the daily demand area at 0.91251-0.91378.

USDCHF DAILY

4hr TF.

Things have got very interesting on this timeframe. Last week price closed above the round number 0.93 on Thursday, and appears to have successfully retested it as support on Friday. With this in mind, take a quick look to the left of current price, you’ll notice there’s possibly consumed supply (take not of these wicks [0.93699/0.93403]) up to around an untouched/fresh 4hr supply area at 0.94546-0.94291 (beautifully located deep within both weekly and daily supply [0.94546-0.93081,0.94546-0.93702]).

Therefore, we know that price could potentially move higher, but how would pro money accomplish this? They would need liquidity to move prices that far. Granted, they may have accumulated enough liquidity from stopping out traders who were long around the round number 0.93, and also not forgetting trapping the breakout sellers as well, so essentially this could be all pro money needed for a possible move higher this week. Let’s just assume for a moment, they do not have the required amount of liquidity, where would they likely bring prices to then? We believe it is likely a decline may be seen down towards a 4hr S/D flip area at 0.92778-0.92469, normally we would not set pending orders in zones such as these, so we zoomed into the 5-minute timeframe to find where the actual decision was made to break this area in the first place, it’s a tiny zone seen at 0.92531-0.92606 where we have set a pending buy order just above at 0.92635, since we expect a first-time reaction when, or indeed if price reaches here

USDCHF 4HR

Pending orders/P.A confirmation levels:

  • Areas to watch for buy orders: P.O: 0.92635 (SL: 0.92410 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)

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 1244.08. At the time of writing, price is currently edging ever so closer to the1244.08 area, so long positions may be a good bet at the moment.

gold weekly

Daily TF.

Last week on Friday we saw price break below the daily decision-point area at 1258.40-1270.30, potentially signaling a continuation move down to daily demand at 1238.41-1254.85.

gold daily

4hr TF.

There were certainly some very active sellers located around the 4hr S/R flip (resistance) level at 1273.07 (which is where we closed half of our buy position [1262.48]), since follow-through selling was seen breaking below the 4hr demand area at 1258.40-1264.53, and reacting off of a 4hr R/S flip (support) level at 1257.55 (fortunately we had our stop-loss order placed below here, so we are still currently long on gold).

If we see price close above the 4hr S/R flip (resistance) level at 1273.07, this will likely confirm higher prices may be seen up to at least the 4hr supply area at 1289.80-1286.71. This may also confirm that the tail seen below the daily decision-point area at 1258.40-1270.30 (which is the same as on the 4hr timeframe – 1257.15) may have also been a fakeout, and not a continuation signal.

gold 4hr

Pending orders/P.A confirmation levels:

  • 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.