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 sold off sharply last week breaking below the weekly demand area at 1.31037-1.32262. This move potentially cleared the way down to a prominent weekly ‘buy zone’ seen at 1.26591-1.28010.

Daily TF: At the time of writing, trading action remains confined between a nice-looking daily decision-point area at 1.31589-1.31091, and a daily demand area at 1.27541-1.28676 (seen just above the aforementioned weekly buy zone). Before the market can challenge the daily demand area, we have to be prepared for the possibility that price may rally (pro money do this to accumulate liquidity) up to around the aforementioned daily decision-point area before lower prices are seen. When, or indeed if prices reach this far, we will without a doubt be looking for shorting opportunities!

4hr TF: According to the daily timeframe analysis (above), we should be prepared for price to move either north or south. Ever since the market opened at 1.29540, ranging price action has been seen. Buyers and sellers appear to be confined between the round number 1.3, and the combined 4hr S/D flip area at 1.28970-1.28590/Round number 1.29 (located just above a daily demand area at 1.27541-1.28676). Early this week, it is very likely pro money will want to collect any unfilled sell orders left around the round number 1.3 from last week’s push south, 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/round number 1.29 where we have a P.A confirmation buy level set just above at 1.29056.

If a close above the round number 1.3 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 1.31589-1.31091).

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: The weekend gap has forced prices to trade below the weekly R/S flip level support at 1.62591, if follow-through selling is seen, the weekly demand area at 1.58533-1.60157 will likely be hit soon.

Daily TF: We now know that the bullish pin-bar pattern formed on Friday was not legit buying, as price gapped below the daily demand area at 1.62510-1.63401. We expect price to continue declining down to around a fantastic-looking area of daily support at 1.58992 (neatly located within the aforementioned weekly demand area), since looking to the left of current price, most of the daily demand zones appear to have already been consumed.

4hr TF: The market opened deep within a 4hr demand area (1.61325-1.61888) at 1.61603, and has, at the time of writing spiked below this area trading directly into the round number 1.61, at which point the buyers came into the market. If weakness is seen around this round-number level, a test of the 4hr demand area at 1.59875-1.60350 may well be seen (huge-figure number 1.6 has located within). We have set a pending buy order at 1.60112 since this area will very likely see a bounce at the very least; if/when price reaches there.

GBPUSD 4HR

Pending orders/P.A confirmation levels:

  • Areas to watch for buy orders: P.O: 1.60112 (SL: 1.59586 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: 1.62667 (SL: 1.63517 TP: Dependent on how prices approaches) 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.

Daily TF: A push back into the medium-term daily range (0.92046-0.92354/0.93529) has been seen off of a small daily decision-point area at 0.94044.

4hr TF: The market opened considerably lower than Friday’s close (0.93710) at 0.93579, however, the 0.93536 level offered enough support for the buyers to push prices north forming a ‘pin-bar looking high’ at 0.93732. This is the point where the sellers came into the market, and price sold off sharply down below not only the 4hr demand area at 0.93316-0.93473, but the round number 0.93 as well.

The selling pressure seems to be easing off at the moment, since the market tested a 4hr fakeout (demand) area at 0.92619-0.92780, which has triggered our P.A confirmation buy level at 0.92807 in the process. For this area to be worthy of consideration, we need to see the buyers break above the round number 0.93 consuming some or most of the sellers looking to play the retest there.

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 (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: 0.93911 (SL: 0.94049 TP: Dependent on how price approaches) P.A.C: No P.A confirmation sell levels are seen in the current market environment.

 

USD/JPY:

Weekly TF: Follow-through buying is currently being seen on the USD/JPY after price broke above the weekly supply area at 105.432-104.065. From here, we see very little on this timeframe stopping price from hitting the heavy-weight weekly supply area at 110.652-108.123.

Daily TF: The buying seen on this pair is pushing prices deeper within a daily supply area at 106.946-105.083.  This area will not likely hold up since most, if not all of the major supply has already been consumed, take a quick look in history within the zone, can you see all those wicks/spikes north (from 106.946 to 106.124)? Unfortunately, we do not have the historical data to go deeper on the lower timeframes, but from this timeframe we see very little supply stopping prices from reaching the weekly supply area mentioned above at 110.652-108.123.

4hr TF: The P.A confirmation sell level set just under the pink QM level resistance (105.301) at 105.262 stood no chance against the vicious buying onslaught recently seen. As already mentioned above, our historical data does not reach far enough back for us to look into the daily supply area (106.946-105.083) in more detail.  With that being said, we were able to likely conclude price intended to trade higher (see above), so for the time being, we have absolutely no interest in selling this market , we’ll now be focusing on buying opportunities.

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: No P.A confirmation sell levels are seen in the current market environment.

 

EUR/GBP:

Weekly TF: The Euro initially gapped higher at the open (0.80099) allowing price to once again trade around the upper limits of the weekly decision-point area at 0.80328-0.79780. This move has potentially confirmed higher prices may be seen up to weekly supply coming in at 0.81571-0.80805.

Daily TF: The gap in price appears to have well and truly consumed the sellers around daily supply at 0.80161-0.79846, which has likely cleared the path north up to around daily supply at 0.81515-0.81145.

4hr TF: The 4hr timeframe shows really just how impressive the gap up at the open (0.80099) was, totaling almost 85 pips! The 4hr supply area at 0.80151-0.80085 saw a near-perfect bearish reaction (our pending sell order was filled in the process at 0.80068), with our first take-profit target getting hit at 0.79959. However, it was not long before prices reversed, and continued north stopping out our short position (a small profit was already locked in thankfully).

At the time of writing, price appears to be on full steam ahead towards a fresh 4hr supply area at 0.80619-0.80409. If price closes above the high (circled) 0.80351, we then very much expect the aforementioned 4hr supply area to be hit. We have set a pending sell order relatively deep within this zone at 0.80533, since on the 4hr timeframe this is where pro money likely made the decision to push prices south in the first place, hence unfilled sell orders may well remain there.

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: 0.80533 SL: 0.80660 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 seen stalling after hitting an 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: The daily timeframe shows the buyers and sellers are still trading between daily supply at 1.09967-1.09401, and a daily S/R flip level support at 1.08277. If we see a break below this level, it would likely mean selling pressure has been confirmed from the weekly supply area mentioned above at 1.10522-1.09996.

4hr TF: Active buying was seen at the open (1.08774), the buyers pushed price up to the round number 1.09, where a bearish pin-bar candle formed. This pattern no doubt enticed sellers to place their sell orders just below the low of this pattern at 1.08880, unfortunately (for those traders), price dropped enough to trigger these sell orders, only then for price to push above the high of the pin bar at 1.09011 likely stopping most of the sellers out.

Assuming this round number level gives way, then the next area of interest is coming in at around the 4hr supply area at 1.09967-1.09807 (a P.A confirmation sell level is set just below at 1.09777),  which is located deep within daily supply at 1.09967-1.09401. Why are we not looking the 4hr supply area circled in red at 1.09226? The reason is this area has likely already been consumed, or partly consumed of sellers by the wick/spike highlighted with a blue arrow at 1.09261.

If, however sellers come into the market around this round number level, it’s very likely price will fake past the 4hr S/D flip area at 1.08324-1.08092 into a small 4hr fakeout (demand) zone at 1.07948-1.08006 (it’s a fakeout area simply because price faked out below the round number 1.08 before continuing higher). The reasoning behind this is simply because of the three monstrous tails (1.08097/1.08197/1.08389) marked with blue arrows indicating demand has more than likely been consumed here, hence the path south is potentially clear. We have set a pending buy order just above (1.08028) the aforementioned 4hr fakeout zone, since there is usually unfilled buy orders left around these areas.

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: Price is now currently trading around a strong-looking weekly supply area at 0.94546-0.93081. If sellers enter the market here, we can likely expect active buyers to be situated around the weekly R/S flip level support at 0.90927.

Daily TF: Ranging action is currently being seen on the daily timeframe between the 0.93346/0.92840 area (Friday’s high/low).

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), which is located within a weekly supply area (levels above).
  2. Price could consolidate (as it’s doing now), 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 the 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.

4hr TF: The weekly open (0.93020) saw buyers coming into the market two pips above the round number 0.93. The buying pressure seemed to have dried up when the market tested a minor 4hr resistance level at 0.93284. If a positive close is seen above this 4hr resistance level (and the high 0.93346), the possibility of a push higher up to at least the round number 0.94 is certainly not out of the question, since in between we see only consumed supply (Wicks consuming supply as price was declining [0.93699/0.93403]).

However, if a positive bearish close is seen below the round number, it is very likely price will hit the 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 (which was at the time a 4hr supply zone) 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: At the time of writing, price is trading just above a weekly decision-point level at 1244.08. In our humble opinion, it may be time to be locking in profits on any shorts one has currently open, and thinking about looking for buying opportunities.

Daily TF: On the daily timeframe price is seen entering within a daily demand area at 1238.41-1254.85. This area of demand appears weak from the deep test seen on 03/06/14 at 1240.23. Nonetheless, price is currently trading around a small, untouched decision-point level (demand) at 1252.02 at the moment, notice this level was not a reaction to anything, and until now remained untouched, let’s see what the 4hr timeframe has to say!

4hr TF: Our pending buy order set at 1262.48 stood very little chance against that huge full-bodied bearish candle (1265.94/1251.46) recently seen, which pushed prices deep within a fresh area of 4hr demand at 1250.15-1253.79. If we see price close above the 4hr R/S flip (resistance) level at 1257.55, we will definitely be looking for longs back down within the aforementioned 4hr demand area, since we see a clear path north up to at least the 4hr supply area at 1271.78-1267.52.

GOLD 4HR

Pending orders/P.A confirmation levels:

  • Areas to watch for buy orders: 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.