EUR/USD:

Weekly Timeframe: Strong buying has been seen on the Euro, and as a result, price aggressively broke above a weekly support flip level (1.27541) into a strong-looking weekly supply area at 1.29941-1.28583.

Daily Timeframe: A bearish reaction has been seen from a daily supply area at 1.29001-1.28453 (located within the weekly supply area mentioned above at 1.29941-1.28583). However, as mentioned in the previous analysis, the small daily resistance flip level just below coming in at 1.27500 appears to be a troublesome barrier for the sellers to overcome.

4hr Timeframe: The 4hr timeframeshows that price is currently trading between a minor 4hr Quasimodo resistance level at 1.28667, and a psychological number 1.27.

Considering the fact that price is currently trading out of a weekly supply area (1.29941-1.28583) at the moment, we are naturally favoring lower prices to be seen. With that being said though, selling strength will only be confirmed if price closes below the 1.27 level, only then would we begin looking for shorting opportunities targeting the 4hr demand area below at 1.26236-1.26469.

4hr

Buy/sell levels:

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

 

GBP/USD:

Weekly Timeframe: The weekly timeframe shows that price still remains trading within a nice-looking weekly demand area coming in at 1.58533-1.60157; could this area be supportive enough to rally prices higher?

Daily Timeframe: The daily Quasimodo support level (1.58934) seen within not only a daily demand area at 1.58533-1.59914, but also within the weekly demand area mentioned above at 1.58533-1.60157 was clearly enough to allow buyers to enter the market. Assuming the small daily decision-point supply area at 1.61255-1.60498 is consumed, higher prices will very likely follow up to a daily support flip level seen at 1.62503.

4hr Timeframe: The 4hr timeframe shows that price is trading just below a 4hr decision-point supply area seen at 1.61344-1.61035. In the event price breaks above this area, which is quite possible since price is trading out of a weekly demand area (1.58533-1.60157) at the moment, this will likely attract further buying up to a combined 4hr supply/round number area at 1.62255-1.61910/1.62 (tentative sell orders are seen just below at 1.61849). This will also as a consequence consume the daily decision-point supply area mentioned above at 1.61255-1.60498.

However, assuming selling interest comes into the market before higher prices are seen, it is very likely price will drop down towards the 1.6 level, where at which point we’d expect active buyers to enter the market around the 1.60055 level.

4hr

Buy/sell levels:

  • Buy orders: 1.60055 (Predicative stop-loss orders seen at: 1.59781).
  • Sell orders: 1.61849 (Predicative stop-loss orders seen at: 1.62322).

 

AUD/USD:

Weekly Timeframe: The weekly demand area seen at 0.86591-0.88247 in our opinion is showing weakness. Take a look at how every time the buyers attempt to trade higher, selling interest comes into the market around the 0.88874 level. Could this be this be a subtle hint that it’s ‘game over’ for this demand area?

Daily Timeframe: The daily timeframe is currently showing indecision, as price is 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. In our opinion, until either one of these areas break, there is no clear direction on this timeframe.

4hr Timeframe: The 4hr timeframe shows there is a definite consolidation in play here between the combined 4hr demand/round-number area at 0.86744-0.87235/0.87 (tentative buy orders are seen just above at 0.87297), and the 4hr supply area above at 0.88975-0.88614 (tentative sell orders are seen just below at 0.88566). Opportunities to trade this 4hr range are clearly evident, but we would not recommend entering blindly with limit orders here, we would advise waiting for lower-timeframe confirmation. What we mean by this is simply to wait for an opposing decision-point area to be consumed on your chosen timeframe before considering entering the market.

4hr

Buy/sell levels:

  • Buy orders: 0.87297 (Predicative stop-loss orders seen at: 0.86483).
  • Sell orders: 0.88566 (Predicative stop-loss orders seen at: 0.89061).

 

USD/JPY:

Weekly Timeframe: The weekly timeframe shows that buying interest is being seen off of a weekly resistance flip level at 105.432. Is this level really enough to put a halt on the selling that was recently seen out of the weekly supply area above at 110.625-108.123?

Daily Timeframe: We can see that the weekly resistance flip level mentioned above at 105.432 is clearly supported by a sturdy-looking daily decision-point demand area coming in at 104.674-105.244. As per this timeframe before any further selling is seen, it is very likely that price will continue to rally higher until at least the daily decision-point supply area at 107.486-106.661.

4hr Timeframe: The 4hr timeframe shows some very interesting price action, and a possible buying opportunity. Price has consumed the small 4hr decision-point supply area seen at 106.391-106.196 (marked with a blue arrow), and with that, likely stopped out a ton of sellers in the process. What this means to us is that price is now free to trade up to at least the 106.747 level.

Be that as it may, we feel there is a good chance that price will likely see a retracement down towards a small 4hr Quasimodo support level seen at 105.673, and as such, this could prove to be a beautiful low-risk buying opportunity targeting the 106.747 level. The reason for the target being quite small for this trade is simply because the daily timeframe shows oncoming supply around the 107.486-106.661 area as already mentioned above.

4hr

Buy/sell levels:

  • Buy orders: 105.708 (Predicative stop-loss orders seen at: 105.407).
  • Sell orders: N/A (Predicative stop-loss orders seen at: N/A).

 

EUR/GBP:

Weekly Timeframe: Serious buying interest has come into the market within a weekly demand area seen at 0.76931-0.78623. However, before the market can push higher and challenge the weekly supply area above at 0.81571-0.80635, buying pressure must take out a weekly resistance level coming in at 0.80351.

Daily Timeframe: The daily timeframe on the other hand shows that the 0.80351 level is also a nice-looking daily Quasimodo resistance level. If further selling comes into the market here, we see very little stopping price from declining all the way down to the 0.78729 level. Let’s take a look on the 4hr timeframe.

4hr Timeframe: The price action is far clearer on this timeframe. Price aggressively broke the huge psychological number 0.8, and proceeded to rally higher up to a beautiful-looking 4hr Quasimodo resistance level at 0.80362. It was here where the sellers began coming into the market. The 0.8 level once again has recently been breached, and as a result, price is trading very near to an ignored 4hr Quasimodo resistance level seen at 0.79831.

Considering that price is trading around a weekly resistance level (0.80351) at the moment, we feel lower prices will be seen down to at least the 4hr decision-point area coming in at 0.79350-0.79567 (tentative buy orders are seen just above at 0.79586). A break below here would likely signal that price could decline further down to the 0.79144 level.

However on a side note, we should expect some sort of bullish action from the ignored Quasimodo resistance level (0.79831) beforehand, since these levels usually see some sort of a reaction.

4hr

Buy/sell levels:

  • Buy orders: 0.79586 (Predicative stop-loss orders seen at: 0.79322).
  • Sell orders: N/A (Predicative stop-loss orders seen at: N/A).

 

USD/CAD:

Weekly Timeframe: The weekly timeframe shows that price has broken above the high 1.12775. Assuming price can close above this level, there is a good chance that the path north is then clear up to a weekly supply area coming in at 1.17225-1.15417.

Daily Timeframe: The daily timeframe on the other hand shows that the market has found support around the 1.12418 level. This should come as no surprise really, considering that this level was a relatively strong resistance barrier before. If the buyers can hold out above this level, we think it is very likely a weekly close above 1.12775 will indeed be seen.

4hr Timeframe:  The 4hr timeframe shows price reacted around a very obvious 4hr decision-point demand area seen at 1.12162-1.12441. This is an extremely important area as we believe this is where the overall decision was made to break above the high seen on the weekly timeframe at 1.12775. With that being said, we are expecting to see some selling opposition to come into the market either around the 1.13 level, or the 4hr supply area just above at 1.13842-1.13352 (tentative sell orders seen just below at 1.13301). Nonetheless, as long as the 4hr decision-point demand area just mentioned continues to provide a support barrier to the market, then there is a good chance further buying will be seen.

4hr

Buy/sell levels:

  • Buy orders: N/A (Predicative stop-loss orders seen at: N/A).
  • Sell orders: 1.13301 (Predicative stop-loss orders seen at: 1.13896).

 

USD/CHF:

Weekly Timeframe: The sellers were clearly too strong for any buying opposition seen around the weekly resistance flip level at 0.94546. So, considering that price has just traded out of a weekly supply area at 0.98378-0.95895, and the weekly swap level just mentioned has likely seen the majority of buyers there consumed, can we now expect lower prices down to around the 0.92497 level sometime soon?

Daily Timeframe: If further selling is to be seen, the daily decision-point demand area at 0.93522-0.93970 will have to be consumed beforehand. There is a good chance however, we may even see higher prices from here up to at least the daily supply area coming in at 0.95613-0.94675, since well-funded traders will likely need to collect unfilled sell orders around this area before further selling can take place.

4hr Timeframe: The 4hr timeframe shows price reacted beautifully off of a 4hr Quasimodo support level seen at 0.93774 (located deep within the daily decision-point demand area mentioned above at 0.93522-0.93970). As a result, price rallied up to a small 4hr decision-point supply area at 0.94729-0.94597, where at the time of writing active sellers seem to be coming into the market. In the event price closes above this area, this will likely attract further buying up to the 0.95 level (active sell orders seen just below at 0.94965), which in turn will see price trading relatively deep within the daily supply area mentioned above at 0.95613-0.94675.

4hr

Buy/sell levels:

  • Buy orders: N/A (Predicative stop-loss orders seen at: N/A).
  • Sell orders: 0.94965 (Predicative stop-loss orders seen at: 0.95101).

 

XAU/USD (GOLD):

Weekly Timeframe: Further buying has recently been seen out of a weekly demand area at 1156.70-1194.45, which has consequently pushed prices up to a weekly support flip level coming in at 1244.08.

Daily Timeframe: The daily timeframe shows that minor selling interest is being seen around the weekly support flip level mentioned above at 1244.08. However, for further selling to be seen, a small daily resistance flip level at 1235.54 will need to be consumed.

4hr Timeframe: It appears to be decision time on Gold at the moment! Take a look at how price is confined between the 4hr supply area seen at 1250.85-1243.69, and a small 4hr decision-point demand area at 1234.07-1238.94. If price breaks below here, this will likely force prices down to at least a 4hr demand area coming in at 1221.78-1227.37 (tentative buy orders are seen just above at 1228.13), and could potentially indicate buying weakness out of the weekly demand area mentioned above at 1156.70-1194.45.

That being said though, in the event price breaks above the aforementioned 4hr supply area, this will likely indicate buying strength from the weekly demand area just mentioned, and as such a rally higher will likely follow up to the 4hr support flip level coming in at 1257.15 (tentative sell orders are seen just below at 1256.61).

4hr

Buy/sell levels:

  • Buy orders: 1228.13 (Predicative stop-loss orders seen at: 1220.74).
  • Sell orders: 1256.61 (Predicative stop-loss orders seen at: 1260.52).