EUR/USD:

Weekly Timeframe: At the time of writing, price is once again seen trading around a key weekly support flip level coming in at 1.27541. In the event of a close above this level, price may then be forced to test the weekly supply area seen at 1.29941-1.28583.

Daily Timeframe: The daily timeframe shows price is currently trapped trading between a daily demand area at 1.24642-1.25616 and a small daily supply area at 1.29001-1.28453, which is located relatively deep within the weekly supply area mentioned above at 1.29941-1.28583.

4hr Timeframe: A strong break above the 1.27 level was recently seen, but the market seems to have found temporary resistance just under a 4hr decision-point supply area (1.27894-1.27731) at 1.27670.

In our opinion, there’s very little to stop price from dropping back down to the 1.27 level to retest it as support (tentative buy orders seen just above at 1.27054). However, if we see a close above the aforementioned 4hr decision-point supply area beforehand, this would likely attract further buying up to around the 4hr Quasimodo resistance level at 1.28667. This would then see price trading not only within a daily supply area mentioned above at 1.29001-1.28453, but also within a larger, more prominent weekly supply area seen at 1.29941-1.28583.

4HR

Buy/sell levels:

  • Buy orders: 1.27054 (Predicative stop-loss orders seen at: 1.26598).
  • Sell orders: N/A (Predicative stop-loss orders seen at: N/A).

 

GBP/USD:

Weekly Timeframe: The weekly timeframe shows that buying activity is currently being seen out of a weekly demand area at 1.58533-1.60157. That being said though, the buying interest appears to be deteriorating, which is not a good sign for anyone currently long at the moment. Could this be all the weekly demand area has to offer?

Daily Timeframe: At the time of writing, price is capped between a major daily support flip level coming at 1.62503, and a daily demand area seen at 1.58533-1.59914 (located deep within the weekly demand area mentioned above).Until either one of these areas sees a break, there is no direction in our opinion on this timeframe.

4hr Timeframe: The market opened at 1.60724, and the buyers immediately took prices up to a combined 4hr decision-point/round-number area at 1.61344-1.61035/1.61 as expected. There is clear selling interest being shown here, which leads us to believe that further selling will be seen down towards the 1.60 level. There are no doubt millions of buy orders located here with stop-loss orders set just below, which well-funded traders are surely aware of! With that in mind, a nice fakeout below this level will most probably be seen into a beautiful fresh 4hr demand/fakeout area at 1.59506-1.59770. It is here we expect a nice rally higher to be seen from the 1.59824 level, as we mustn’t forget that price is still (albeit showing some weakness) trading around a weekly demand area (1.58533-1.60157) at the moment.

4HR

Buy/sell levels:

  • Buy orders: 1.59824 (Predicative stop-loss orders seen at: 1.61605).
  • Sell orders: N/A (Predicative stop-loss orders seen at: N/A).

 

AUD/USD:

Weekly Timeframe: The weekly timeframe shows that most of the buyers have either been consumed or stopped out now around the weekly demand area seen at 0.86591-0.88247. With that in mind, the current buying being seen on the Aussie may be fuelled from the stop-loss orders taken out already, since once a buyer is stopped out, their stops become sell orders, and this provides well-funded traders the opportunity to take advantage of this liquidity offering by buying into all these sell orders.

Daily Timeframe: Price is currently seen trading between a daily demand area at 0.86183-0.87183, and a daily decision-point supply area coming in at 0.88961-0.88302. Until either one of these areas sees a break, there is no clear direction in our opinion on this timeframe.

4hr Timeframe: The 4hr timeframe shows that as soon as the market opened at 0.86906, the sellers pushed price south and tested the 4hr Quasimodo support level at 0.86629. There were clearly active buyers waiting here as, since price rallied around 135 points!

Considering the fact that price is currently trading within a weekly demand area (0.86591-0.88247) at the moment, we feel further buying will be seen up until at least the 0.88 level (tentative sell orders seen below at 0.87970). A break above there would then likely attract follow-through buying up to a 4hr Quasimodo resistance level seen at 0.88330.

4hr

Buy/sell levels:

  • Buy orders: N/A (Predicative stop-loss orders seen at: N/A).
  • Sell orders: 0.87970 (Predicative stop-loss orders seen at: 0.88145).

 

USD/JPY:

Weekly Timeframe: The weekly timeframe shows that further selling is currently being seen out of a major weekly supply area at 110.652-108.123. Assuming this selling activity continues, we can likely expect prices to trade down to at least the weekly resistance flip level coming in at 105.432.

Daily Timeframe: It appears with the recent selling interest being shown on the weekly timeframe; the daily decision-point demand area at 106.799-107.383 has also been consumed. With this in mind, there will likely be a rally in price now, since a lot of buyers have potentially been stopped out, and once stopped, their orders become sells – perfect for well-funded traders to buy into (liquidity offering).

4hr Timeframe: As we can all see, the combined 4hr demand/round-number area at 106.799-107.048/107 has obviously been consumed as well, since this level sat deep within the daily decision-point demand area mentioned above at 106.799-107.383.

As already mentioned on the daily timeframe, we are expecting price to rally, however with price aggressively trading out of a weekly supply area at the moment, we feel it is unlikely price will be able to break above the sturdy-looking 4hr supply area coming in at 107.563-107.273. In fact, there are very likely active sell orders set just below at 107.224, which could make this a nice area to sell at!

4hr

Buy/sell levels:

  • Buy orders: N/A (Predicative stop-loss orders seen at: N/A).
  • Sell orders: 107.224 (Predicative stop-loss orders seen at: 107.603).

 

EUR/GBP:

Weekly Timeframe: The weekly timeframe shows that the buyers and sellers are still battling it out within a major weekly demand area coming in at 0.76931-0.78623. Considering this is a strong weekly ‘buy zone’, we are naturally expecting higher prices to be seen soon.

Daily Timeframe: The daily timeframe on the other hand shows that the 0.78729 level is proving to be a rather troublesome resistance barrier. Assuming this level is taken out (a daily close above seen), this could then create enough upside momentum to test the daily supply area at 0.80084-0.79391, which in turn would likely confirm buying strength from the weekly demand area mentioned above at 0.76931-0.78623.

4hr Timeframe: The 4hr timeframe shows that ever since the market opened at 0.78555, the buyers took control pushing prices north up to a minor 4hr supply area (green) seen at 0.78936-0.78811. Assuming the buyers can overcome any selling opposition that may reside here, we will then likely see prices test the 4hr supply area at 0.79569-0.79323 (active sell orders likely set just below at 0.79293), which is conveniently located just within the daily supply area mentioned above at 0.80084-0.79391. The reason we believe prices can trade thus high, is simply because we see nothing but consumption wicks to the left of current price (0.78938/0.78984), and as such this likely indicates that the path north is likely clear.

However, if selling interest is seen here, we must be prepared for prices to trade down towards the 4hr demand area at 0.78271-0.78399, where a reaction could indeed be seen. However, we shall not be buying here since we feel this area has already been weakened by the touch seen on the 07/10/14 at 0.78357. The market will likely continue trading south, bouncing off of all the minor areas of demand until it reaches the 4hr Quasimodo support level seen at 0.77840 (active buy orders are seen just above at 0.77876).The reason we believe this level may act as a magnet to price is simply because it’s sitting just above a daily demand area at 0.77507-0.77772, and coupled with the fact that price is trading within a weekly demand area (0.76931-0.78623) at the moment, this is very likely a high-probability buying opportunity.

4hr

Buy/sell levels:

  • Buy orders: 0.77876 (Predicative stop-loss orders seen at: 0.77618).
  • Sell orders: 0.79293 (Predicative stop-loss orders seen at: 0.79592).

 

USD/CAD:

Weekly Timeframe: Considering price is currently trading around a medium-term weekly high (1.12775) at the moment, the selling interest is not exactly convincing.

Daily Timeframe: The small daily decision-point area coming in at 1.10521-1.10826 is very likely responsible for the selling weakness being seen on the weekly timeframe. The buying pressure was, and appears to still be too strong to overcome, and with that, no lower prices can obviously be seen until this area is consumed.

4hr Timeframe: The market opened around 14 pips or so lower than Friday’s close (1.11886) at 1.11723, which saw immediate buying activity pushing price up to the 1.12 level.

In our opinion, two things can happen here:

  1. Price continues to rally up to a 4hr supply area seen at 1.12697-1.12415 (active sell orders likely set just below at 1.12380), and as a result price would then be trading within the daily supply area at 1.12775-1.12361, which obviously forms the overall weekly high at 1.12775.
  1. Selling interest could come into the market from the 1.12 level, which could see price declining all the way down to a 4hr Quasimodo support level coming in at 1.11104 (active buy orders likely set just above at 1.11129).

Selling at the 4hr supply area just mentioned above could work out to be a nice trade, since we would be effectively trading into higher-timeframe supply (see above), even with the current selling weakness being seen. However, in the event we do see a decline in value from the 1.12 area down to the Quasimodo support level, we would (in our opinion) be best off waiting for lower-timeframe price-action confirmation. We only say this only price ‘could’ spike right though both this level, and the 1.11 level into a 4hr demand area seen at 1.10521-1.10758.

4hr

Buy/sell levels:

  • Buy orders: 1.11129 (Predicative stop-loss orders seen at: 1.10891).
  • Sell orders: 1.12380 (Predicative stop-loss orders seen at: 1.12759).

 

USD/CHF:

Weekly Timeframe: Last week shows that active selling was seen out of a weekly supply area at 0.98378-0.95895. That being said though, buying interest also came into the market as price came within a few pips of hitting a weekly resistance flip level at 0.94546. On this timeframe, there is no clear direction in our opinion until either one of these areas is broken.

Daily Timeframe: Price successfully broke below a daily decision-point demand area seen at 0.95163-0.95581 on Thursday last week, which likely indicates that the path south is clear down to at least the daily decision-point demand area at 0.93522-0.93970. Be that as it may, this does not mean we are recommending hitting the sell button just yet! What it does mean however is we should be patient, as this break below the 0.95163-0.95581 area could very well just be a fakeout into the weekly resistance flip level mentioned above at 0.94546.

4hr Timeframe: The market opened at 0.95644, and ever since then the sellers have been in overall control. Price was rather aggressively sold into the 0.95315 level, where at which point a little buying interest was seen, but however was not enough to contend with the current selling onslaught taking place.

With that being said, price broke (marked with a red circle) above the high 0.95881 just before the market closed last week, which In our opinion was an important signal that higher prices may follow. The pink area from the high just mentioned, up to the high 0.96236 is a consumed supply area. Take a look inside the zone and check out the supply consumption wicks seen at 0.95965/0.95996/0.96106.

Therefore, if we assume that most of the sell orders are consumed around the 0.95881 level, this likely leaves the path north clear up until at least the 0.96236 level. However before we all go hitting the buy button, we must be prepared for prices to now decline down to at least the 0.9 level (active buy orders likely set just above at 0.95037), or even the 4hr demand area just below coming in at 0.94587-0.94785 (active buy orders likely set just above at 0.94820), for the simple reason that the big guys may not have the liquidity (sell orders for their buys) to push prices higher just yet.

We must advise caution to anyone considering touch trading any of these buy levels, as we mustn’t forget that the higher-timeframe direction is unclear at the moment, so waiting for lower-timeframe confirmation here is the best path to take in our opinion.

4hr

Buy/sell levels:

  • Buy orders: 0.95037 (Predicative stop-loss orders seen at: 0.94920) 0.94820 (Predicative stop-loss orders seen at: 0.94520).
  • Sell orders: N/A (Predicative stop-loss orders seen at: N/A).

 

XAU/USD (GOLD):

Weekly Timeframe: The weekly timeframe shows that further buying is currently being seen out of a weekly demand area at 1156.70-1194.45. Assuming this buying activity continues, we can likely expect prices to trade up to at least the weekly support flip level coming in at 1244.08.

Daily Timeframe: The daily timeframe on the other hand shows that price is currently trading relatively deep within a daily supply area seen at 1241.95-1231.52, and the only way price will hit the weekly support flip level mentioned above at 1244.08, is if all the selling opposition is consumed here.

4hr Timeframe: The 4hr timeframe shows that price is currently trading within a rather weak-looking 4hr supply area at 1239.37-1233.79.The reason why we think this area is weak is simply because of the amount of times it has been hit (marked with blue arrows), as each time this area sees some action, a new batch of sell orders are consumed, and thus the area weakens upon each visit. So, with this in mind, and remembering the fact that price is currently trading out of a weekly demand area (1156.70-1194.45) at the moment, we feel that this 4hr supply area will be broken sometime soon, and as a result exposes a very important 4hr supply area at 1250.85-1243.69 (active sell orders likely set just below at 1242.59).

Why do we deem this area as important? Take a look on the weekly chart around the weekly support flip level at 1244.08, now go down into the 4hr timeframe and you’ll see that the this 4hr supply area was likely where the ‘decision’ was made to break below this major weekly level, which makes this an extremely important area to have on your watchlist.

4hr

Buy/sell levels:

  • Buy orders: N/A (Predicative stop-loss orders seen at: N/A).
  • Sell orders: 1242.59 (Predicative stop-loss orders seen at: 1251.50).