EUR/USD:

Weekly Timeframe: The weekly timeframe shows that buying interest is being seen off of a minor weekly demand area coming in at 1.24996-1.26262. However, going long here is not something we’d consider since there is a huge weekly support flip level looming just above at 1.27541.

Daily Timeframe: At the time of writing,price seems to be standing strong on a minor daily support level seen at 1.26213. Anyone who has taken a long trade around this level may want to prepare for some selling interesting being seen in the market soon, as price is getting nearer to a daily resistance flip level coming in at 1.27500 (located just below the weekly support flip level mentioned above at 1.27541).

4hr Timeframe: As already mentioned in the previous analysis, the 4hr demand area at 1.26236-1.26469 has likely already been consumed (blue arrow – 1.26125). Below this area – other than the 1.26 level, most of the demand to the left has also likely been consumed as well (check out the demand consumption tails around the green trend line), which leaves the path clear down to around a 4hr Quasimodo support level seen at 1.25699 (active buy orders are seen just above at 1.25744).

The market opened at 1.26757, and ever since then price appears to be continuing to consume demand as price rallies higher (pink trendline) much the same as what we’re seeing around the green trendline. That being said though, the market appears to be having some trouble breaking through a 4hr decision-point supply area at 1.27387-1.27109. If further selling is indeed seen here, a relatively big decline in value may ensue down to at least the 1.26 level.

However, taking into account what we found on the daily timeframe, we must expect price to fakeout above the aforementioned 4hr decision-point supply area into the 1.27500 daily level before any type of sell off is seen. Furthermore, we mustn’t forget that price is currently trading around a minor weekly demand area (1.24996-1.26262) and off of a small daily support level (1.26213) at the moment. So, with this in mind, assuming one does consider selling this market, he/she will need to monitor the trade carefully, as buying could come into the market at any time.

4hr

Buy/sell levels:

  • Buy orders: 1.25744 (Predicative stop-loss orders seen at: 1.25593).
  • Sell orders: N/A (Predicative stop-loss orders seen at: N/A).

 

GBP/USD:

Weekly Timeframe: For the past few weeks price has been trading around a weekly demand area coming in at 1.58533-1.60157. There has been some buying interest seen here, but nothing to get excited about. A break below here would likely attract further selling down to a weekly resistance flip level seen at 1.57166.

Daily Timeframe: The daily timeframe shows just why the buying interest on the weekly timeframe is not anything to get excited about. Price has been trading between a minor daily support flip level at 1.61609 and a combined daily demand/Quasimodo support area at 1.58533-1.59914/1.58934 since the 03/10/2014. It is only until one of these areas sees a positive close; we will then have some idea on future direction.

4hr Timeframe: The 4hr timeframe shows that ever since the market opened at 1.60733, the buyers have been in control. This buying interest has consequently consumed a nice-looking 4hr decision-point supply area seen at 1.61297-1.61066, which at first appeared to us as if price would likely continue higher up to around the combined 4hr supply/round number area at 1.62255-1.61910/1.62.

We however believe that this could indeed be a fakeout. The reasons why are as follows:

  1. Price is trading near a proven area of daily resistance at 1.61609 (See daily timeframe).
  2. As already mentioned above, the buying interest out of the weekly demand area at 1.58533-1.60157 is not anything to get excited about which could indicate potential buying weakness (see the weekly timeframe), and thus further selling could be seen.

With the above taken into consideration, we have decided to remain flat on this pair, and wait for further developments.

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).

 

AUD/USD:

Weekly Timeframe: In our opinion the weekly timeframe is still depicting buying weakness out of a weekly demand area coming in at 0.86591-0.88247. If price on the other hand breaks above the 0.88874 level, then our bias will likely change, but until then we remain on the side of caution.

Daily Timeframe: The daily timeframe remains to be indecisive, as price is still seen ranging 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, there is no clear direction on this timeframe until either one of these areas sees a break. Therefore, going long within the aforementioned weekly demand area may not be the best path to take until the daily decision-point supply area mentioned above is consumed.

4hr Timeframe: The 4hr timeframe shows that ever since the market opened at 0.88015, this pair has not seen much movement at all.

At the time of writing, price still remains consolidating between a 4hr supply area seen at 0.88591-0.88275 (tentative sell orders are seen just below at 0.88250), and a combined 4hr demand/round number area at 0.86744-0.87235/0.87 (tentative buy orders are seen just above at 0.87297). Both of these areas are supported by the daily range mentioned above.

The 4hr range has proved to be relatively stable considering the amount of times it has been tested, and as a result there are very likely opportunities to trade the extremes. However, trading at the extremes puts us at risk of fakeouts, so we would only contemplate entering the market with corresponding lower-timeframe confirmation.

4hr

Buy/sell levels:

  • Buy orders: 0.87297 – Tentative (Predicative stop-loss orders seen at: 0.86483).
  • Sell orders: 0.88250 – Tentative (Predicative stop-loss orders seen at: 0.88657).

 

USD/JPY:

Weekly Timeframe: The week before last showed price reacting off of a weekly resistance flip level seen at 105.432. Last week however saw further buying coming into the market, which pushed price back up to a major weekly supply area coming in at 110.652-108.123. Could this be pro money coming back to collect the last of the unfilled sell orders before a more aggressive sell off is seen?

Daily Timeframe: Aggressive selling came into the market around a minor daily support flip level at 108.241 yesterday (located just within the weekly supply area mentioned above at 110.652-108.123). Does this mean we should be expecting further selling to be seen? As the path south appears to be relatively clear down to around a daily decision-point demand area at 106.239-106.934. Let’s see what we can find on the 4hr timeframe.

4hr Timeframe: The 4hr timeframe shows that the market may have found temporary support around a small 4hr decision-point demand area seen at 107.419-107.627. In the event further buying comes into the market here, and the 108 level is consumed, we do not see much in the way of price hitting a small 4hr Quasimodo resistance level above coming in at 108.524 (active sell orders are seen just below at 108.478), which is conveniently located just below the major daily resistance flip level at 108.575.

If the above does indeed happen, this could likely be the start of a nice down trending market as we mustn’t forget that price is now trading around a monster weekly supply area seen at 110.652-108.123, and the aforementioned 4hr Quasimodo resistance level could provide the perfect entry!

4hr

Buy/sell levels:

  • Buy orders: N/A (Predicative stop-loss orders seen at: N/A).
  • Sell orders: 108.478 (Predicative stop-loss orders seen at: 108.787).

 

EUR/GBP:

Weekly Timeframe: The weekly timeframe shows that price remains trading around the base of a weekly demand area seen at 0.76931-0.78623. Considering just the weekly timeframe for a moment, price has not exactly been showing much in the way of buying strength. Could it be ‘game over’ for this demand area?

Daily Timeframe: Price still seems to be indecisive as price is seen ranging within a daily decision-point demand area seen at 0.78468.0.78986. Let’s see what we can find on the 4hr timeframe.

4hr Timeframe: The 4hr timeframe shows beautiful price action. Take a look at how price has approached (green trendline) the fresh 4hr demand area at 0.78468-0.78595 (active buy orders are seen just above at 0.78616).

Price movement such as this is a very common when approaching very obvious supply or demand zones. However, this chart is particularly beautiful! Notice that each time price makes a lower low, we then see a return to collect any unfilled sell orders that may have been left behind (marked with blue arrows). This does two things, it allows pro money to keep pushing price south using the unfilled sell orders, but at the same time it also clears the path north for any future buying, which in our opinion is a perfect approach to a fresh demand area.

Therefore, with the path likely clear north on the 4hr timeframe, and price currently trading around not only a weekly demand area, but also a daily decision-point demand area as well (levels above), it is very likely buying interest will be seen around this 4hr demand area just like what we are seeing at the moment.

4hr

 

Buy/sell levels:

  • Buy orders: 0.78616 (Predicative stop-loss orders seen at: 0.78444).
  • Sell orders: N/A (Predicative stop-loss orders seen at: N/A).

 

USD/CAD:

Weekly Timeframe: The week before last shows that the buyers were unable to close above the 1.12775 high. Be that as it may, we still feel that the majority of sellers here were well and truly consumed with that humongous wick coming in at 1.13842, and as a result there is a good chance higher prices could still be seen.

Daily Timeframe: The daily timeframe shows that even though price was unable to close above the 1.12775 high on the weekly timeframe, it certainly did on the daily timeframe, which in our view indicates buying strength. At the time of writing, price is trading around a daily decision-point demand area seen at 1.10807-1.11719. Assuming bullish price action is seen on the 4hr timeframe, this could be a fantastic place to go long.

4hr Timeframe: Unfortunately, this pair is behaving very similarly to the AUD/USD in that it has seen very little movement over the past few weeks.

Price is still currently seen consolidating  between a combined 4hr demand/round number area at 1.11837-1.12186/1.12 (located just within the daily decision-point demand area mentioned above at 1.10807-1.11719), and a small 4hr supply area coming in at 1.12953-1.12813. There is however potential opportunities to trade this range with   sell orders seen at 1.12756, and buy orders at 1.12233. Be that as it may, we would only do so with corresponding lower-timeframe confirmation.

Ideally, what we would like to see here is a push above both the small 4hr supply area, and the 1.13 level. This would in our opinion clear the path north up to around the 1.14 level, and at the same time likely imply buying strength from the aforementioned daily decision-point demand area. Why we have not included the 4hr supply area at 1.13842-1.13352 is simply because this area has already likely been weakened by the touch seen on the 16/10/14 at 1.13601. Assuming the above takes place, where could one buy into this action? If the 1.13 level sees a positive close above, you could attempt to trade the retest with a small stop targeting the 1.14 level. However, as price action develops there will likely be fresh demand areas forming where one could also potentially trade off of.

4hr

Buy/sell levels:

  • Buy orders: 1.12233 (Predicative stop-loss orders seen at: 1.11774).
  • Sell orders: 1.12756 (Predicative stop-loss orders seen at: 1.13059).

 

USD/CHF:

Weekly Timeframe: The weekly timeframe currently shows that price is capped between a weekly supply area coming in at 0.98378-0.95895, and a weekly resistance flip level seen at 0.94546.

Daily Timeframe: Likewise, the daily timeframe also shows price is currently capped between a daily supply area at 0.95613-0.94675, and a daily decision-point demand area seen at 0.93522-0.93970. It is only until one of these areas sees a break, will we then likely have some idea regarding future direction.

4hr Timeframe: The 4hr timeframe shows that price meandered out of a 4hr supply area at 0.95613-0.95298 down towards an area of 4hr demand coming in at 0.94713-0.94955, where a little buying interest is currently being seen.

Considering the higher timeframes are not telling us much other than the fact that price is currently ranging, there may however still be a potential long entry within the current 4hr demand area. Check out the approach towards this 4hr demand zone (green trendline), can you see how after each consecutive lower low, price retraced to collect unfilled sell orders before continuing south. What this does is not only allow pro money to keep selling towards their destination, but it also clears the path north for any future buying.  So, with this in mind, a small buy position could be taken here with small risk, and one could set their first take-profit target at around the 4hr supply area mentioned above at 0.95613-0.95298.

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).

 

XAU/USD (GOLD):

Weekly Timeframe: The rebound from the weekly support flip level at 1244.08 is currently extending lower at the moment. Assuming this selling continues, there is a possibility that price could trade back down towards a weekly demand area at 1156.70-1195.45.

Daily Timeframe: The daily timeframe shows that further selling could indeed be seen. The path south appears to be relatively clear down to around the 1206.49 level, since most of the demand to the left of current price has already likely been consumed by the two buying tails seen at 1221.78/1217.25. Let’s see what the 4hr timeframe has to say.

4hr Timeframe: The 4hr timeframe shows that price is now seen trading deep within a 4hr demand area coming in at 1221.78-1227.37. This could potentially hold the market higher; however the incentive to begin buying is not there, since there is a 4hr supply area looming just above at 1235.99-1232.15.

With the above in mind, assuming price breaks below the current 4hr demand area, where would price likely trade to next? Just below the area there seems to be consumed demand (green trendline), and the only other area in our view that would likely have heavy active buy orders would be around the 1204.66 level, which coincidentally lines up nicely with the daily level seen at 1206.49.

So, until either the current 4hr demand area breaks south, or a break above the near-term 4hr supply area is seen, we will for the time being remain flat on Gold.

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).