For the readers’ benefit:

Price action confirmation levels: 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 Timeframe: 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 Timeframe: A reaction has been seen around the top of a daily demand area at 1.27541-1.28676, not surprising really considering this area is sitting just above a weekly ‘buy zone’ mentioned above at 1.26591-1.28010. The subsequent rebound rally produced a potential bullish closing price, but the only way find out if this buying is legit, and not just traders covering their shorts with be a follow through to the upside. A key area in particular to pay attention to is the daily decision-point area (supply) above at 1.31589-1.31091.

4hr Timeframe: The important 4hr decision-point level at 1.29580 has been consumed by a fraction of a pip, marked with a blue arrow at 1.29617. This could likely be a signal pro money are taking prices higher, well, at least to the next area of interest, which seems to be the huge psychological number 1.3. Do bear in mind this is only our opinion, we know of some traders who would want to see the 1.3 level consumed before looking for longs, it’s all about personal preference! We have set a new pending buy order just within the combined 4hr supply flip/round number area (1.28970-1.28590/1.29) at 1.28936 which was recently filled. Our first-take profit target for this trade is set just below the 1.3 level at 1.29839.

EURUSD 4HR

Pending orders/Price action confirmation levels:

  • Areas to watch for buy orders:Pending orders: 1.28936 (Stop loss: 1.28437 Take profit level(s): [1] 1.29839 [May be subject to change]). Price action confirmation levels:No price action confirmation buy levels are seen in the current market environment.
  • Areas to watch for sell orders: Pending orders: No pending sell orders are seen in the current market environment. Price action confirmation levels:1.29950 (Stop loss: Dependent on price action after the level has been confirmed, Take profit levels(s): Dependent on approaching price action after the level has been confirmed).

 

GBP/USD:

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

Daily Timeframe: The gap below daily demand at 1.62510-1.63401 seen at the beginning of the week likely signals a continuation move 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. However, active buyers seem to be coming into the market around the 1.60506 level, which could potentially bring prices up to the daily demand flip area at 1.62510-1.63401. This could very well be pro money at work here, rallying price higher in order to entice buyers into the market, only later to sell into them, only time will tell though.

4hr Timeframe: Pro money clearly had already accumulated enough liquidity (sell orders to buy into) without needing to bring prices down into the 4hr demand area below at 1.59875-1.60350. The accumulation of sell orders around the round number 1.61, and an ever-so subtle fakeout of the low 1.60580 was all that was needed to rally prices higher.

A small bullish close has recently been seen above the round number 1.62, nevertheless, in our opinion this round number may not hold since the sellers around the high marked with a blue arrow at 1.62317 have yet to be consumed. It may be a good idea to remember the manipulation games that are played by pro money, they know as well as we do that price is trading above a heavy-weight weekly demand area at 1.58533-1.60157, so everyone is expecting higher prices, and quite a lot of traders will already likely be long. Stopping out all these unwanted traders (who are now long) by pushing prices south once again right down to the aforementioned 4hr demand area will cause panic and frustration, thus forcing traders to cover their positions essentially by selling (if a trader buys into the market, once that trader closes, their order becomes a sell), perfect for pro money to buy into.

GBPUSD 4HR

Pending orders/Price action confirmation levels:

  • Areas to watch for buy orders:Pending orders: 1.60112 (Stop loss: 1.59586 Take profit levels(s): Dependent on how price approaches) Price action confirmation levels: No price action confirmation buy levels are seen in the current market environment.
  • Areas to watch for sell orders: Pending orders: 1.62667 (Stop loss: 1.63517 Take profit levels(s): Dependent on how prices approaches) Price action confirmation levels: No price action confirmation sell levels are seen in the current market environment.

 

AUD/USD:

Weekly Timeframe: A break below the weekly consolidation area (0.94600/0.92046) is taking place at the time of writing, could this be just a fakeout to stop sellers out, or is it really a continuation move in the making?

Daily Timeframe: Selling pressure seems to have dried up for the time being when the market tested a daily flip resistance level at 0.91323. If the buying interest seen here is legit, and not traders just short covering, the first trouble area of daily supply on the horizon is likely around the daily demand flip area at 0.92046-0.92354. If we see a daily close below the daily flip resistance level (level above), this would likely confirm that the break of the weekly consolidation area is not a fakeout, and is indeed a continuation move.

4hr Timeframe: This pair is quite a difficult one to trade at the moment, since a breakout of the weekly consolidation has been seen (0.94600/0.92046) indicating we may see follow-through selling, but at the same time, on the daily timeframe price is seen reacting off of a daily flip resistance level at 0.91323, so confirmation is the name of the game for the time being, at least until we get a positive direction on the higher timeframes.

We have set a new price action confirmation sell level just below a 4hr decision-point area (0.92168-0.91871) at 0.91853, these types of supply aras usually produce a bounce at the very least, but as already mentioned, with no aggreable higher-timeframe structure, confirmation is what we need!

AUD 4HR

Pending orders/Price action confirmation levels:

  • Areas to watch for buy orders: Pending orders: No pending buy orders are seen in the current market environment. Price action confirmation levels: No price action confirmation buy levels are seen in the current market environment.
  • Areas to watch for sell orders: Pending orders: No pending sell orders are seen in the current market environment. Price action confirmation levels: 0.92350 (Stop loss: Dependent on price action after the level has been confirmed, Take profit levels(s): Dependent on approaching price action after the level has been confirmed) 0.91853 (Stop loss: Dependent on price action after the level has been confirmed, Take profit levels(s): Dependent on approaching price action after the level has been confirmed).

USD/JPY:

Weekly Timeframe: 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 Timeframe: Price is currently seen trading around the upper limit of the daily supply area at 106.946-105.083. A break above here could attract another heavy round of buying essentially pushing price up to the weekly supply area mentioned already at 110.652-108.123, since all we see above this daily supply area is consumed supply/sellers – just take a look at all those wicks (108.021/109.071/109.166/110.278), poetry in motion!

4hr Timeframe: The round number 106 proved to be a fantastic area to go long off of, unfortunately for us, there was no confirmation on this timeframe. Price is edging ever so closer to the round number 107, and while we are still expecting higher prices to come (as per the higher-timeframe analysis above), selling may be seen around this number, this will be very likely be traders covering their long positions, but nonetheless, it will possibly cause a small bearish correction within the clear up trend we’re all seeing.

Assuming sellers do come into the market around the 107 level, we’ll be looking to enter long around the 4hr demand area (106.030-106.241) at 106.288 (pending buy order set at this level).

USDJPY 4HR

 

Pending orders/Price action confirmation levels:

  • Areas to watch for buy orders:Pending orders: 106.288 (Stop loss: 105.886 Take profit: Dependent on how price approaches). Price action confirmation levels:105.377 (Stop loss: Dependent on price action after the level has been confirmed, Take profit level(s): Dependent on approaching price action after the level has been confirmed).
  • Areas to watch for sell orders: Pending orders: No pending sell orders are seen in the current market environment. Price action confirmation levels: No price action confirmation sell levels are seen in the current market environment.

EUR/GBP:

Weekly Timeframe: The sellers appear well and truly consumed now around the weekly decision-point area at 0.80328-0.79780. Price is now very likely free to hit the weekly supply area just above at 0.81571-0.80805, which is where we will be looking for future shorting opportunities on the lower timeframes.

Daily Timeframe: 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 (located beautifully within weekly supply at 0.81571-0.80805). The buyers have made a recent attempt to push higher, but it seems they have hit a potential trouble area at 0.80635 for the time being.

4hr Timeframe: Our price action confirmation sell level set just under the ‘not so good-looking’ Quasimodo (resistance – 0.80104) level at 0.80090 has been removed since price slammed through this level, take a look at the beautiful retest though, nearly a perfect to-the pip reaction!

Our pending sell order set deep within a 4hr supply area at 0.80619-0.80409 has been filled; fortunately the spike/wick above this zone did not stop us out! Our first take-profit target is set around the 4hr flip support level (0.80351) at 0.80372 which should be hit very soon. Assuming active buying is seen around this level, and most of the sellers are consumed around the 4hr supply area just above (which we think they are), a rally up to a small fresh 4hr supply area at 0.80860-0.80811 is likely to follow. We clearly do not want that to happen though! A close below the 4hr flip support level would be fantastic, as this could encourage follow-through selling down to at least the 0.80104/0.8 area, which is where our second take-profit target is set (0.80126).

EURGBP 4HR

Pending orders/Price action confirmation levels:

  • Areas to watch for buy orders: Pending orders: No pending buy orders are seen in the current market environment. Price action confirmation levels: No price action confirmation buy levels are seen in the current market environment.
  • Areas to watch for sell orders: Pending orders:0.80533 (Active) (Stop loss: 0.80660 Take profit levels(s): [1] 0.80372 [2] 0.80126 May be subject to change). Price action confirmation levels:No price action confirmation sell levels are seen in the current environment.

USD/CAD:

Weekly Timeframe: Once again, price is currently trading around the weekly supply area at 1.10522-1.09996. Was the initial touch at 1.09967 just to draw the sellers in, only to retrace price back up to this area forcing traders to cover their positions? We have seen this kind of move time and time again, and it usually results in a heavy move being seen.

Daily Timeframe: A beautiful-looking fakeout above daily supply at 1.09967-1.09401 into a small daily supply area at 1.10522-1.10133 (this area is conveniently located within weekly supply at 1.10522-1.09996) will very likely encourage follow-through selling. The first trouble area of demand for the sellers seen on this timeframe is around the daily flip support level at 1.08277.

4hr Timeframe: Our pending sell order set just below 4hr supply (1.10388-1.10163) at 1.10127 has been successfully filled, and at the time of writing nicely sitting in the green. Our first take-profit target is set just above the 4hr flip support level (1.09311) at 1.09428. Whilst this is a little way off, we strongly believe price will drop down to around that area, since there appears to be very little on this timeframe stopping price, and also not forgetting, we are currently trading out of higher-timeframe supply areas (Weekly: 1.10522-1.09996, Daily: 1.10522-1.10133). So, for the time being we will let price action unfold, and tell us what to do next.

USDCAD 4HR

Pending orders/Price action confirmation levels:

  • Areas to watch for buy orders: Pending orders: 1.08028 (Stop loss: 1.07884 Take profit levels(s): Dependent on how price approaches). Price action confirmation levels:No price action confirmation buy levels are seen in the current market environment.
  • Areas to watch for sell orders: Pending orders: 1.10127(Active) (Stop loss: 1.10440 Take profit levels(s): [1] 1.09428 May be subject to change) Price action confirmation levels: No Price action confirmation sell levels are seen in the current market environment.

USD/CHF:

Weekly Timeframe: 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 flip support level at 0.90927.

Daily Timeframe: A beautiful to-the-pip reaction has been seen around daily supply at 0.94546-0.93702. If this selling continues, the first trouble area for the sellers on this timeframe is likely around a daily decision-point level at 0.93019.

4hr TF: It definitely seems like we may have missed the boat on this short trade (0.93845) for the time being! What a shame, the risk/reward would’ve been fantastic. Onwards and upwards as they say, we are planning to still leave the aforementioned pending sell order in place, since that area is likely where the overall decision was made by pro money to drop prices, initially forming the 4hr supply area at 0.93911-0.93746 (take a look in history, it’s a thing of beauty).

Current price action is testing a 4hr flip support level at 0.93257, a close below here could likely force prices to test the round number 0.93 (a Price action confirmation buy level is set just above at 0.93046), which remains an important level, since around this area was, in our opinion the overall origin of the rally into the aforementioned 4hr supply area. However, we must continually remind ourselves of where price is currently trading on the higher timeframes (Weekly supply: 0.94546-0.93081, Daily supply: 0.94546-0.93702) hence the need to wait for confirmation on any long trades at the moment!

USDCHF 4HR

Pending orders/Price action confirmation levels:

  • Areas to watch for buy orders:Pending orders: 0.92635 (Stop loss: 0.92410 Take profit levels(s): Dependent on how price approaches) Price action confirmation levels: 0.93046 (Stop loss: Dependent on price action after the level has been confirmed, Take profit levels(s): Dependent on approaching price action after the level has been confirmed).
  • Areas to watch for sell orders: Pending orders: 0.93845 (Stop loss: 0.94078 Take profit levels(s): Dependent on how price approaches) Price action confirmation levels: No Price action confirmation sell levels are seen in the current market environment.

XAU/USD (GOLD):

Weekly Timeframe: At the time of writing, price is trading directly above a weekly decision-point (support) level at 1244.08. In our humble opinion, it may be time to be locking in profits on any shorts open, and thinking about looking for buying opportunities.

Daily Timeframe: On the daily timeframe price is seen entering 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 daily decision-point level (demand- 1252.02) at the moment, notice this level was not a reaction to anything, and until now remained untouched, so we expect a bounce here at the very least.

4hr Timeframe: Our pending buy order set just above 4hr demand (1240.92-1244.87) at 1245.52 has been filled, and at the time of writing is sitting nicely in the green! We are naturally expecting a nice runner out of this buy trade, since this is a fantastic fresh-looking 4hr demand area, and also not forgetting that price is currently trading around some really attractive higher-timeframe demand areas (weekly decision-point (support) level at 1244.08, daily decision-point level at 1252.02) at the moment. The first area of concern on this timeframe is around where active sellers last came into the market, the 4hr resistance flip level at 1257.55, we will be sure to take partial profits before reaching this level.

GOLD 4HR 

Pending orders/Price action confirmation levels:

  • Areas to watch for buy orders: Pending orders:1245.52 (Active) (Stop loss: 1239.58 Take profit levels(s): [1] 1254.87 [2] 1266.36). Price action confirmation levels: No price action confirmation buy levels are seen in the current market environment.
  • Areas to watch for sell orders: Pending orders: No pending sell orders are seen in the current market environment. Price action confirmation levels: No price action confirmation sell levels are seen in the current market environment.