Daily Market Analysis by IC Markets

Commercial Content Analysts
181

EUR/USD:

[B]4hr TF.
[/B]
The last analysis reported that price would likely retrace back to the origin around demand below at 1.35036-1.35312, which did in fact happen, along with our pending buy order set at 1.35378 being filled with little to no drawdown.

The first target for this active long trade is at the round number 1.36000 seen just above, which has yet to be hit. At the time of writing the buyers look to be in full force and are currently doing battle with the sellers around the highs 1.35791, if the buyers overcome this selling pressure, our first target will no doubt be hit very soon after.

[B]Pending/P.A confirmation orders:[/B]

[ul]
[li][B]Pending buy orders [/B](Green line) are seen around demand (1.33995-1.34298) at 1.34368. This demand area will more than likely see some sort of reaction due to its location seen to the left.[/li][li][B]The pending buy order[/B] (Green line) set at [B]1.35378[/B] just above demand at 1.35036-1.35312 [B]is now active. Traders should keep a close eye on the first target area seen above at 1.36000 (as seen below).[/B][/li][li][B]No P.A confirmation buy orders [/B](Red line) are seen in the current market environment.[/li][li][B]Pending sell orders[/B] (Green line) seen at 1.36955 just below supply at 1.37235-1.37005 are set here since this level remains untouched, meaning unfilled orders are likely still set around this area.[/li][li][B]P.A confirmation sell orders[/B] (Red line) are visible below the minor resistance 1.36666 at 1.36625, this level has proved valid in the past, but still needs to be confirmed due to a spike/wick (circled) seen above resistance, which may have consumed most of the sellers originally there.[B]Do be on your guard with these sell orders; the higher-timeframes are currently indicating that higher prices may be seen this week (Weekly demand: 1.34770-1.36771 Daily demand: 1.34770-1.35557).[/B][/li][/ul]

[ul]
[li][B]Areas to watch for buy orders:[/B] [B]P.O:[/B] 1.34368 (SL: 1.33926 TP: Dependent on how price action approaches the zone) 1.35378 B[/B] (SL: 1.34971 TP: [1] 1.36000 [2] 1.36666 [may be subject to change depending on approaching price action]). [B]P.A.C: [/B]No P.A confirmation orders seen in the current market environment.[/li][li][B]Areas to watch for sell orders[/B]: [B]P.O:[/B] 1.36955 (SL: 1.37270 TP: [1] 1.36666 [2] 1.36000) [B]P.A.C:[/B]1.36625 (SL: 1.36810 TP: Dependent on where price ‘confirms’ the level).[/li][li][B]Most likely scenario: [/B] With the buyers currently doing battle with the sellers around the highs at 1.35791, a minor retracement south will likely be seen towards demand at 1.35036-1.35312. However, price is expected to rally north from here hitting the round number above at 1.36000, this will likely happen before a break of demand below at 1.35036-1.35312 is seen.[/li][/ul]

182

GBP/USD:

[B]4hr TF.
[/B]
The pound, as reported yesterday, looks a total mess with wicks and tails seen in all directions. Pro money has well and truly been very active, notice another attempt to the upside was made at the round number 1.70000 (marked with a check sign), yet the buyers were unable to trade above the last high/wick seen to the left at 1.70105. This likely indicates strong selling interest in and around this supply area/round number (1.69963-1.69726/1.70000).

Price is currently once again seen trading around minor support (1.69431), and at the time of writing the sellers are unable to positively close below. A pending sell order can only be set once an attempt to consume the majority of the buyers around the ‘mini low’ (marked with an arrow) at 1.69221 has been seen.

[B]Pending/P.A confirmation orders:[/B]

[ul]
[li][B]Pending buy orders[/B] (Green line) are seen just above the round number 1.67000 at 1.67043, this area will likely see a reaction due to the amount of credible touches this level has seen, making it an area to watch out for.[/li][li][B]Pending buy orders [/B](Green line) are seen at 1.67610 just above demand at 1.67378-1.67583. A pending order is valid here due to the momentum away from the demand area, indicating orders may be left unfilled here.[/li][li][B]P.A confirmation buy orders[/B] (Red line) are seen just above the round number 1.68000 at 1.68038. A reaction may be likely here because of the way pro money used this level to rally prices higher with force, a quick change in direction like this likely indicates pro money activity, thus, all of their orders may have not been filled at that time. The reason a pending order is not used here is because pro money, on a regular basis perform deep stop hunts around big figure levels (1.68000), and these tails/wicks can be huge sometimes, hence the need to wait for confirmation.[/li][li][B]No pending sell orders [/B](green line) are seen in the current market environment.[/li][li][B]The P.A confirmation sell order[/B] (Red line) set at [B]1.69696[/B] just below supply at 1.69963-1.69726[B]still remains active[/B]. Price, however, still will need to convincingly consume buyers around the low (marked with an arrow) at 1.69221 below before a pending sell order is permitted.[/li][/ul]

[ul]
[li][B]Areas to watch for buy orders:[/B] [B]P.O:[/B] 1.67043 (SL: 1.66527 TP: [1] 1.68000 [3] 1.68708) 1.67610 (SL: 1.67345 TP: [1] 1.68000 [2] 1.69000 [likely to be changed, depending on price approach]).[B]P.A.C:[/B] 1.68038 (SL: Dependent on approaching price action after the level has been confirmed TP: Dependent on approaching price action after the level has been confirmed).[/li][li][B]Areas to watch for sell orders[/B]: [B]P.O:[/B] No pending sell orders seen in the current market environment. [B]P.A.C: (Active-awaiting confirmation)[/B] [B]1.69696[/B] (SL: More than likely will be at 1.70030 TP: Dependent on approaching price action after the level has been confirmed).[/li][li][B]Most likely scenario: [/B].Price is still likely heading south from supply at 1.69963-1.69726, but we may see a lot of choppy price action before this materializes, as another test has been seen at minor support (1.69431), only this time a little deeper which may indicate accumulated selling pressure.[/li][/ul]

183

AUD/USD:

[B]Daily TF.
[/B]
The sellers around supply at 0.94468-0.93758 have really begun shown a lot of energy recently, which was not entirely expected, as this supply area appears to have been weakened by the wick/spike (circled) that likely consumed most of the sellers in and around this area.

As per this timeframe, price is currently capped between the supply area just mentioned above, and demand below at 0.92054-0.92633.


[B]4hr TF.[/B]
The sellers have pushed price down into the D/S flip area (demand) at 0.93186-0.93345, where buyers are currently beginning to show interest.

It was reported yesterday [I]that the sellers have yet to push price down to its full potential, as there is more room to the downside with little stopping price from hitting the round number below at 0.93000. The zone between the D/S flip area at 0.93186-0.93345 and the round number 0.93000 marked with a check sign, appears to be a lovely area for a fakeout in the near future.[/I]
Our pending sell order above set at 0.94447 around the highs 0.94613 will still likely remain in its place for the following reasons:

[ul]
[li][I]A new mini downtrend line has been attached to the chart marked with an arrow, this is not to show a trend, it is more to show how pro money has likely been consuming small supply pockets on the lower timeframes whilst price is still dropping, thus if price manages to rally, and consume the circled area (0.94000,) there will be little to stop the buyers pushing price up to the highs (marked with a circle to the left) at 0.94613 where we currently have a pending sell order set at 0.94447[/I].[/li][li]A fakeout of the high marked with an x at 0.94375 is a great place for pro money to stop sellers out, giving them buy orders to sell into, whilst filling their pending sell orders around the highs at 0.94613.[/li][/ul]

[B]Pending/P.A confirmation orders:[/B]

[ul]
[li][B]No pending buy orders[/B] (Green line) are seen in the current market environment.[/li][li][B]P.A confirmation buy orders[/B] (Red line) are seen at 0.92231 just above demand at 0.92037-0.92203. It would be too risky to set a pending order around this area, since deep spikes into this demand zone have been seen (levels above) possibly consuming the majority of buyers in the process.[/li][li][B]P.A confirmation buy orders[/B] (Red line) are visible just above the round number 0.93000 at 0.93025. We require confirmation of this level because previous price action has warned us deep tests both north and south happen on a regular basis, hence the need to wait for confirmation rather than getting stopped out time after time through lack of patience.[/li][li][B]Pending sell orders[/B] (Green line) are seen at 0.94447, if price manages to get up to this level, active sellers are likely waiting because of how quickly price changed in direction, only pro money have the account size to do this, indicating unfilled sell orders may still be unfilled there.[/li][li][B]No P.A confirmation sell orders [/B](Red line) are seen in the current market environment.[/li][/ul]

[ul]
[li][B]Areas to watch for buy orders:[/B] [B]P.O:[/B] No pending orders are seen with current price action[B]. P.A.C:[/B]0.92231 (SL: more than likely will be at 0.91984 TP: Dependent on approaching price action after the level has been confirmed) 0.93025 (SL: Dependent on approaching price action after the level has been confirmed TP: Dependent on approaching price action after the level has been confirmed).[/li][li][B]Areas to watch for sell orders[/B]: [B]P.O:[/B] 0.94447 (SL: 0.94667 TP: Dependent on approaching price action). [B]P.A.C:[/B] No P.A confirmation sell orders seen in the current market environment.[/li][li][B]Most likely scenario: [/B]Ideally we want price to rally from where price is currently trading to the highs seen at 0.94613, however what will likely happen is a spike below to the round number 0.93000 will be seen triggering our confirmation buy order set at 0.93025.[/li][/ul]

184

USD/JPY:

[B]Daily TF.
[/B]
The daily timeframe currently shows price is trading between demand below at 101.532-100.787 and minor resistance (supply) above at 102.645. With the weekly timeframe showing strong long-term support around the 101.254 area, price will likely break the daily upper supply (minor resistance – level above) before breaking the daily demand area below (levels above).


[B]4hr TF.[/B]
It was reported in the last analysis that price would likely retrace a little from hitting the minor S/R flip level at 102.117, then proceed to rally north to at least 102.367.

The sellers were clearly no match for the buyers around the S/R flip level just mentioned, as little to no retrace was seen to the downside. Buyers have made an attempt to push price up to a ‘decision point’ area seen at 102.367, which is in fact our second target for our active long trade. Sellers unfortunately begun showing interest five to six pips short of this target, so anyone who was long from 101.679 may have been inclined to close some of their position earlier nearer to the target, as there is nothing worse than a trade that nearly hits its target, then drops (in this case) right back to the entry, or worse, a loss!

[B]Pending/P.A confirmation orders:[/B]

[ul]
[li][B]The pending buy order[/B] (Green line) set just above demand (101.427-101.660) at [B]101.679[/B] [B]still remains active.[/B] The first [B]target has been hit at 102.000; second target is seen at 102.367.[/B][/li][li][B]No P.A confirmation buy orders[/B] (red line) are seen in the current market environment.[/li][li][B]Pending sell orders[/B] (Green line) are visible at 102.980, deep within supply (103.055-102.742), this area may well appear to be weak now, but the way price reacted at the circled area within supply indicates pro money activity, meaning sell orders may be left unfilled there, so a pending sell order is permitted.[/li][li][B]Near-term pending sell orders [/B](Green line) are seen at 102.367. A pending order is valid here since this is the area where pro money made the ‘decision’ to take prices lower into demand (101.427-101.660), unfilled sell orders were likely left there in the process.[/li][li][B]No P.A confirmation sell orders[/B] (Red line) are seen in the current market environment.[/li][/ul]

[ul]
[li][B]Areas to watch for buy orders:[/B] [B]P.O: (Active – 1[SUP]st target[/SUP] hit)[/B] 101.679 (SL: 101.404 TP: [1] [B]102.000[/B][2] 102.367 [but may be subject to change]) [B]P.A.C:[/B] No P.A confirmation buy orders are seen in the current market environment.[/li][li][B]Areas to watch for sell orders[/B]: [B]P.O:[/B] 102.980 (SL: 103.108 TP: 102.117, but may well change if the market sees any new developments) 102.367 (SL: 102.458 TP: Dependent on how price action approaches this area). [B]P.A.C:[/B] No P.A confirmation sell orders are seen in the current market environment.[/li][li][B]Most likely scenario: [/B]Price will likely now see a decline to the minor S/R flip level at 102.117, or if the sellers have the strength, to the round number below at 102.000, before a final rally is seen to at least 102.367.[/li][/ul]

185

EUR/GBP:

[B]Daily TF.[/B]
The daily timeframe shows the buyers are completely in control at the moment from demand at 0.79282-0.79649, with no opposing selling pressure seen until at least the D/S flip area at 0.80348-0.80576.


[B]4hr TF.
[/B]
Buyers appeared to have consumed the majority of sellers in and around the D/S flip area at 0.80053-0.80176, consequently, a retracement to the downside was seen as reported may happen in the last analysis.

However, price never reached our pending buy order set at 0.79580 as it was too low. Price reacted beautifully at around 0.79689 (marked with a circle), which if one looks to the near left, we can see this was an obvious ‘decision point’ (marked with the horizontal level) where pro money clearly ‘decided’ to rally price into the D/S flip area (levels above) in the first place.

All is not lost though! We do not chase price, we wait for price to come to us! Buyers are currently battling with the sellers seen deeper within the D/S flip area (levels above), if there are some big sell orders remaining there, price will likely drop down to where it reacted to before at around the 0.79689 area, but this time, as some of the buyers will have been consumed there, a spike below this level into demand at 0.79405-0.79552 may be seen, thus filling our pending buy order (level above) in the process.

[B]Pending/P.A confirmation orders:[/B]

[ul]
[li][B]No P.A confirmation buy orders[/B] (Red line) are seen in the current market environment.[/li][li][B]A pending buy order[/B] (Green line) has been set at 0.79580 just above demand at 0.79405-0.79552. The rationale behind this is because buyers have likely consumed the majority of the sellers lurking around supply (D/S flip area) at 0.80053-0.80176, likely clearing the path for higher prices. A small retracement will possibly be seen to collect more buyers for a rally higher, thus triggering our pending buy order.[/li][li][B]No pending sell orders[/B] (Green line) are seen in the current market environment.[/li][li][B]P.A confirmation sell orders[/B] (Red line) under the S/R flip level 0.81403 at 0.81393 is an area where a reaction is likely, however there were too many wicks north seen marked with arrows, indicating sellers are drying up, thus, the need to wait for more confirmation.[/li][li][B]P.A confirmation sell orders [/B](Red line) are seen just under supply (0.80869-0.80771) at 0.80752. Confirmation orders were used here because price is trading around a weekly demand area (0.79596-0.80299), which means price could easily consume this supply level as the higher timeframes usually overrule the lower timeframes.[/li][li][B]P.A confirmation sell orders [/B](Red line) are seen just below supply (0.80647-0.80583) at 0.80293. Confirmation orders were used here because price could easily consume this supply level as we are currently deep within a weekly demand area (0.79596-0.80299), which means price could easily consume this supply level as the higher timeframes usually overrule the lower timeframes.[/li][/ul]

[ul]
[li][B]Areas to watch for buy orders: P.O:[/B] 0.79580 (SL: 0.79368 TP: [1] 0.80000 [2] 0.80583 [May change if any new developments in the market are seen]) [B]P.A.C: [/B]No P.A confirmation buy orders are seen in the current market environment.[/li][li][B]Areas to watch for sell orders[/B]: [B]P.O:[/B] No pending sell orders are seen in the current market environment. [B]P.A.C:[/B] 0.81393 (SL: Will be likely set at 0.81564 TP: Will be likely set at the round number 0.81000) 0.80752 (SL: likely to be set at 0.80900 TP: Dependent on where price ‘confirms’ the level) 0.80293 (SL: likely to be set at 0.80648 TP: Dependent on where price ‘confirms’ the level).[/li][li][B]Most likely scenario: [/B] Price will likely decline from supply (D/S flip area) at 0.80053-0.80176 to demand seen below at 0.79405-0.79552, before any higher prices are seen.[/li][/ul]

186

USD/CAD:

[B]Weekly TF.[/B]
The weekly timeframe shows price is trading in and around support (S/R flip level) at 1.08438 with no sign of a break to the downside visible yet.


[B]
Daily TF.[/B]
The daily timeframe is currently showing price capped between demand below (minor support) at 1.08142 and the lower of the two stacked supply areas seen at 1.10039-1.09356 due to the weekly timeframe being seen at a major area of support (level above), as a result, we can likely expect the daily supply area just mentioned to break first before minor support at 1.08142 does.


[B]4hr TF.
[/B]
The 4hr timeframe shows little development has been seen, other than a rhombus (Diamond) shape formation being formed, these patterns do occur, however they are rare and quite risky to trade as price could, theoretically trade in any direction as both minor supply and demand within the pattern have been consumed.

Price is still seen trading between supply at 1.08907-1.09047 and demand below at 1.08142-1.08330 with a break yet to materialize.

[B]Pending/P.A confirmation orders:[/B]

[ul]
[li][B]No pending buy orders[/B] (Green line) are seen in the current market environment.[/li][li][B]P.A confirmation buy orders[/B] (Red line) seen just above demand (1.08142-1.08330) at 1.08348. There may be orders left unfilled here, however, a pending order is not wise due to how deep price penetrated the level before (marked with an arrow).[/li][li][B]Pending sell orders[/B] (Green line) just below supply (1.10039-1.09875) at 1.09851 will very likely see a nice reaction. However, we should remain aware of the big figure number 1.10000 lurking within the top half of the supply area (levels above), so a bigger stop may be necessary.[/li][li][B]P.A confirmation sell orders[/B] (Red line) are seen just below the S/R flip level (1.09408) at 1.09361. A P.A.C order was selected here because of the deep wicks seen in and around this area, possibly indicating sellers have been consumed, thus weakening the level on return, and also not forgetting we are currently in higher – timeframe demand (weekly:1.08438 daily: 1.08142).[/li][li][B]P.A confirmation sell orders[/B] (Red line) are seen just below the D/S flip area (1.08907-1.09047) at 1.08876. Pending orders are not logical here since price could very well spike north, deep into the zone, attempting to penetrate the round number 1.09000 which could possibly stop us out if we had pending orders set, and also not forgetting we are currently in higher –timeframe demand (weekly:1.08438 daily: 1.08142).[/li][/ul]

[ul]
[li][B]Areas to watch for buy orders:[/B] [B]P.O:[/B] There are no pending buy orders seen in the current market environment. [B]P.A.C:[/B] 1.08348 (SL: Likely to be set at 1.08127 TP: Dependent on approaching price action after the level has been confirmed).[/li][li][B]Areas to watch for sell orders[/B]: [B]P.O:[/B] 1.09851 (SL: 1.10114 TP: [1] 1.09408 [2] 1.09047) [B]P.A.C:[/B]1.09361 (SL likely to be set at 1.09513 TP: Dependent on approaching price action after the level has been confirmed) 0.08876 (SL: Dependent on approaching price action after the level has been confirmed TP: Dependent on approaching price action after the level has been confirmed).[/li][li][B]Most likely scenario: [/B]Current price action has presently formed a diamond shape formation. Now, if we look closely enough, we can see all supply and demand within the pattern have been consumed, thus a likely scenario is very difficult to give at the time of writing. On the safe side, price will likely remain trading within supply seen above at 1.08907-1.09047 and demand below at 1.08142-1.08330 possibly testing either side[/li][/ul]

187

USD/CHF:

[B]4hr TF.
[/B]
The mini range seen at 0.90116/0.89643 still remains firmly in place. The sellers have recently been seen dominating the market, with price currently testing the lower limit of this range (0.89643).

A break to the downside will likely be seen very soon, as once the buyers around lower limit of the range (level above) have been totally consumed, there will be little stopping price from dropping down to demand seen at 0.88973-0.89168.

As mentioned yesterday, we still have an active sell order in the market from 0.90063 with our first target down below at 0.89168, as we remain confident lower prices are expected soon.

[B]Pending/P.A confirmation orders:[/B]

[ul]
[li][B]No pending buy orders[/B] (Green line) are seen in the current market environment.[/li][li][B]P.A confirmation buy orders[/B] (Red line) are seen just above the daily S/R flip level (0.88501) at 0.88533. This level needs to see some confirming price action before any entry is placed in the market, due to their being no logical area for a stop loss order.[/li][li][B]Near-term P.A confirmation buy orders[/B] (Red line) are seen within demand (0.88973-0.89168) at 0.89029, just above the round number 0.89000, as price may retrace to demand to collect unfilled orders.[/li][li][B]The pending sell order[/B] (Green line) visible at the base of supply (0.90381-0.90033) just above the round number 0.90000 [B]at 0.90063 still remains active[/B], so keep a close eye on the [B]first target area[/B].[/li][li][B]No P.A confirmation sell orders[/B] (Red line) are seen in the current market environment.[/li][/ul]

[ul]
[li][B]Areas to watch for buy orders[/B]: P.O: There are no pending buy orders seen in the current market environment[B]. [/B][B]P.A.C:[/B] 0.88533 (SL: Dependent on approaching price action after the level has been confirmed TP: Dependent on approaching price action after the level has been confirmed) 0.89029 (SL: likely to be set at 0.88784 TP: Dependent on approaching price action after the level has been confirmed).[/li][li][B]Areas to watch for sell orders[/B]: [B]P.O: (Active)[/B] 0.90063 (SL: 0.90412 TP: [1] 0.89168 [2] 0.88501)[B]P.A.C:[/B] There are currently no P.A confirmation orders seen in the current market environment.[/li][li][B]Most likely scenario: [/B]Price will likely see more selling to the downside today with a break being seen of the lower limit of the range (0.89643). Once a break to the downside is visible, look for more selling opportunities on the retest of where price broke out around the 0.89643 area.[/li][/ul]

188

XAU/USD (GOLD)

[B]Daily TF.[/B]
The daily timeframe shows price is currently capped between supply above at 1295.52-1285.52 and demand below at 1238.51-1254.97.

A break above supply (levels above) could force price to test oncoming supply at 1331.13-1318.24, conversely, a break below demand (levels below) could force price to test oncoming demand (support) at 1182.01.


[B]4hr TF.[/B]
Price is currently capped between supply above at 1293.47-1285.52 and demand below at 1258.57-1265.27. A break of either side is possible at the moment as the higher timeframes are not showing much in the way of direction (see above).

Demand at 1258.57-1265.27 clearly had active buyers within this area. Sellers are currently being seen showing interest around the S/R flip level resistance at 1273.34, a positive close above this level would not be good for our live sell order at 1284.53, but would be good for our confirmation buy order set at 1266.00.

[ul]
[li][B]Pending buy orders[/B] (Green line) are seen above demand (1231.56-1237.57) at 1238.61 as pro money will in the future likely fake the minor support level at 1240.66 into demand below (levels above).[/li][li][B]The P.A confirmation buy order[/B] (Red line) set just above demand (1258.57-1265.27) at 1266.00[B]is now active[/B]. For this level to be confirmed, buyers will need to consume the majority of the sellers around supply above at 1293.47-1285.52, a pending buy order can then be set at around the 1266.00 area awaiting a possible retracement.[/li][li][B]The pending sell order[/B] (Green line) set just below supply (1293.47-1285.52) at [B]1284.53 remains active[/B] with price [B]hitting its second target at 1266.00. Third and final target is seen below at 1240.66.[/B][/li][li][B]No P.A confirmation sell orders[/B] (Red line) are seen in the current market environment.[/li][/ul]

[ul]
[li][B]Areas to watch for buy orders:[/B] [B]P.O:[/B] 1238.61 (SL: 1230.64 TP: Dependent on approaching price action) [B]P.A.C:[/B] 1266.00 [B](Active-awaiting confirmation)[/B] (SL: likely to be set at 1257.31 TP: Dependent on approaching price action after the level has been confirmed).[/li][li][B]Areas to watch for sell orders[/B]: [B]P.O: [/B]1284.53 [B](Active-2nd target hit)[/B] (SL: 1294.70 TP: [1] 1273.34 [2] 1266.00 [3] 1240.66) [B]P.A.C:[/B] There are currently no P.A confirmation sell orders seen in the current market environment.[/li][li][B]Most likely scenario: [/B]Price will likely trade between the S/R flip level resistance at 1273.34 and demand below at 1258.57-1265.27 during the lower-volume sessions, once volatility picks up, a break either side may be seen, so be on your guard, and only trade when price breaks out and retests one of these areas (levels above).[/li][/ul]

189

EUR/USD:

[B]Daily TF.[/B]
We can clearly see that on the daily timeframe, demand at 1.34770-1.35557 had active buyers within this area with the next trouble point for the buyers being seen at supply above (1.37342-1.36890).


[B]4hr TF.
[/B]
The buyers were taking no prisoners yesterday! There was little to no reaction seen, even at the round number 1.36000, which was our first target as we were long from demand below at 1.35378. Price came within 20 pips of our second target at 1.36666, and with the sellers seen showing interest around this area, it may be best to take what profit we have, and close the position, so all in all, a great trade on this pair, with a tidy profit locked in.

[B]Pending/P.A confirmation orders:[/B]

[ul]
[li][B]Pending buy orders [/B](Green line) are seen around demand (1.33995-1.34298) at 1.34368. This demand area will more than likely see some sort of reaction due to its location seen to the left.[/li][li][B]The pending buy order[/B] (Green line) set at [B]1.35378[/B] just above demand at 1.35036-1.35312 [B]has now been closed. The second target at 1.36666 was nearly hit, so we decided to close our position very near its target.[/B][/li][li][B]No P.A confirmation buy orders [/B](Red line) are seen in the current market environment.[/li][li][B]Pending sell orders[/B] (Green line) seen at 1.36955 just below supply at 1.37235-1.37005 are set here since this level remains untouched, meaning unfilled orders are likely still set around this area.[/li][li][B]P.A confirmation sell orders[/B] (Red line) are visible below the minor resistance 1.36666 at 1.36625, this level has proved valid in the past, but still needs to be confirmed due to a spike/wick (circled) seen above resistance, which may have consumed most of the sellers originally there.[B]Do be on your guard with these sell orders; the higher-timeframes are currently indicating that higher prices may be seen this week (Weekly demand: 1.34770-1.36771 Daily demand: 1.34770-1.35557).[/B][/li][/ul]
[B][/B]

[ul]
[li][B]Areas to watch for buy orders:[/B] [B]P.O:[/B] 1.34368 (SL: 1.33926 TP: Dependent on how price action approaches the zone) 1.35378 [B](Closed in profit)[/B] (SL: 1.34971 TP: [1] 1.36000 [2] 1.36666 [may be subject to change depending on approaching price action]). [B]P.A.C: [/B]No P.A confirmation orders seen in the current market environment.[/li][li][B]Areas to watch for sell orders[/B]: [B]P.O:[/B] 1.36955 (SL: 1.37270 TP: [1] 1.36666 [2] 1.36000) [B]P.A.C:[/B]1.36625 (SL: 1.36810 TP: Dependent on where price ‘confirms’ the level).[/li][li][B]Most likely scenario: [/B] With the daily chart above showing room for price to move north, a fake out at the minor resistance level on the 4hr chart at 1.36666 up to supply at 1.37235-1.37005 may be seen, before any lower prices are visible.[/li][/ul]

190

GBP/USD:

[B]Weekly TF.
[/B]
On this timeframe, we can see price is making an advance towards major supply at 1.76290-1.70490; will long-term sellers come into the market around this area? Only time will tell. One thing we know for sure now is that any long trades on the lower timeframes will have to be carefully placed due to this weekly supply area.


[B]Daily TF.[/B]
On the daily timeframe, daily supply at 1.70410-1.68880 has nearly been fully consumed. If a daily close is seen above the round number 1.70000, and also the supply area just mentioned, this will likely force price to test daily supply above at 1.76290-1.73110 seen deep within the weekly supply area (levels above).

[B]4hr TF.[/B]
Chart 1 below shows how a sneaky tail/spike came down to consume some of the buyers at the mini low 1.69221 (marked with a red line and two arrows). However, notice what happened after! There was no way a pending sell order could have been set once this bullish candle was seen.

Supply at 1.69963-1.69726 has been totally consumed, along with the round number 1.70000 seeing a positive 4hr close above as well, making these areas a place to watch in the near future for buying opportunities.

Chart 1:

[B]Pending/P.A confirmation orders:[/B]

[ul]
[li][B]Pending buy orders [/B](Green line) are seen at 1.67610 just above demand at 1.67378-1.67583. A pending order is valid here due to the momentum away from the demand area, indicating orders may be left unfilled here.[/li][li][B]P.A confirmation buy orders[/B] (Red line) are seen just above the round number 1.68000 at 1.68038. A reaction may be likely here because of the way pro money used this level to rally prices higher with force, a quick change in direction like this likely indicates pro money activity, thus, all of their orders may have not been filled at that time. The reason a pending order is not used here is because pro money, on a regular basis perform deep stop hunts around big figure levels (1.68000), and these tails/wicks can be huge sometimes, hence the need to wait for confirmation.[/li][li][B]New P.A confirmation buy orders [/B](Red line) are seen just above minor support (1.69431) at 1.69482. A reaction north is likely to be seen here, however we are currently seeing higher-timeframe supply being hit on the weekly timeframe at 1.76290-1.70490, hence the need for a confirmation buy order, rather than a pending buy order.[/li][li][B]New P.A confirmation buy orders [/B](Red line) are seen just above the round number 1.70000 at 1.70034. A reaction north is likely to be seen here, however we are currently seeing higher-timeframe supply being hit on the weekly timeframe at 1.76290-1.70490, hence the need for a confirmation buy order, rather than a pending buy order.[/li][li][B]No pending sell orders [/B](Green line) are seen in the current market environment.[/li][li][B]No P.A confirmation sell orders [/B](Red line) are seen in the current market environment.[/li][/ul]

Chart 2 below shows the new alterations made, and the two new P.A confirmation orders that have been added (explained above in the pending/p.a confirmation orders section).

Chart 2:

[ul]
[li][B]Areas to watch for buy orders:[/B] [B]P.O:[/B] 1.67610 (SL: 1.67345 TP: [1] 1.68000 [2] 1.69000 [likely to be changed, depending on price approach]). [B]P.A.C:[/B] 1.68038 (SL: Dependent on approaching price action after the level has been confirmed TP: Dependent on approaching price action after the level has been confirmed). 1.69482 (likely to be set at 1.69176 TP: Dependent on approaching price action after the level has been confirmed) 1.70034 (SL: Dependent on approaching price action after the level has been confirmed TP: Dependent on approaching price action after the level has been confirmed).[/li][li][B]Areas to watch for sell orders[/B]: [B]P.O:[/B] No pending sell orders seen in the current market environment. [B]P.A.C: [/B]No P.A confirmation sell orders seen in the current market environment.[/li][li][B]Most likely scenario: [/B].Price is will likely begin to see a retracement very soon, as buyers will possibly begin taking profit from the rally seen earlier. A retracement will likely see the round number 1.70000 seeing a touch very soon.[/li][/ul]

191

AUD/USD:

[B]4hr TF.
[/B]
This is beautiful, look at what happened around the D/S flip area at 0.93186-0.93345, a tail/spike was seen penetrating deep into the zone, where there were clearly big buy orders from pro money set there.
The minor gold-colored supply area seen at 0.94053-0.93944 needed to be consumed for price to have any chance of hitting our pending sell order at 0.94447 around the high 0.94613.

Price has very little stopping it reaching our pending sell order (level above), other than the high marked with an x at 0.94375, however, this could prove beneficial to pro money, as they may decide to fake this high up to the next set of highs at 0.94613 (circled to the left) thus triggering our pending sell order in the process.

[B]For reference[/B]: the trendlines placed on the charts are not resembling trends as such, it is more to show how pro money has likely consumed minor S/D pockets to clear the path for either the buyers or sellers (depending on which way price is heading).

[B]Pending/P.A confirmation orders:[/B]

[ul]
[li][B]No pending buy orders[/B] (Green line) are seen in the current market environment.[/li][li][B]P.A confirmation buy orders[/B] (Red line) are seen at 0.92231 just above demand at 0.92037-0.92203. It would be too risky to set a pending order around this area, since deep spikes into this demand zone have been seen (levels above) possibly consuming the majority of buyers in the process.[/li][li][B]P.A confirmation buy orders[/B] (Red line) are visible just above the round number 0.93000 at 0.93025. We require confirmation of this level because previous price action has warned us deep tests both north and south happen on a regular basis, hence the need to wait for confirmation rather than getting stopped out time after time through lack of patience.[/li][li][B]Pending sell orders[/B] (Green line) are seen at 0.94447, if price manages to get up to this level, active sellers are likely waiting because of how quickly price changed in direction, only pro money have the account size to do this, indicating unfilled sell orders may still be unfilled there.[/li][li][B]No P.A confirmation sell orders [/B](Red line) are seen in the current market environment.[/li][/ul]

[ul]
[li][B]Areas to watch for buy orders:[/B] [B]P.O:[/B] No pending orders are seen with current price action[B]. P.A.C:[/B]0.92231 (SL: more than likely will be at 0.91984 TP: Dependent on approaching price action after the level has been confirmed) 0.93025 (SL: Dependent on approaching price action after the level has been confirmed TP: Dependent on approaching price action after the level has been confirmed).[/li][li][B]Areas to watch for sell orders[/B]: [B]P.O:[/B] 0.94447 (SL: 0.94667 TP: Dependent on approaching price action). [B]P.A.C:[/B] No P.A confirmation sell orders seen in the current market environment.[/li][li][B]Most likely scenario: [/B]Price will likely decline a little further to the round number 0.94000, before a rally is seen up to the highs (marked with a circle to the left) at 0.94613.[/li][/ul]

192

USD/JPY:

[B]4hr TF.
[/B]
Look at how close our second target at 102.367 came to be filled, literally within a pip or two! We closed our long position at 101.679 represented by the black dashed trend line, as sellers looked as though they were taking over.

Also, what a fantastic trade that would have been, if our pending sell order set at 102.367 would have been filled, we would have currently been at least 4R up in the trade! This pending sell order will remain in position for now, as pro money may decide to re-test this area once again as there was once big sellers there.

A new pending buy order has been set deeper within 4hr demand at 101.427-101.660 as pro money will likely spike deeper into the confirmed demand area (101.427-101.660) to test the area for responsiveness (active buyers), thus helping them decide if they should break this demand area or trade off of it.

[B]Pending/P.A confirmation orders:[/B]

[ul]
[li][B]The pending buy order[/B] (Green line) set just above demand (101.427-101.660) at [B]101.679[/B] [B]has now been closed.[/B] [B]The second target 102.367 came within a pip or two to being filled.[/B][/li][li][B]New pending buy orders [/B](Green line) are seen deeper within demand (101.427-101.660) at 101.542. A pending order is valid here since pro money are frequently seen testing deeper in confirmed demand areas such as this, for active buyers.[/li][li][B]No P.A confirmation buy orders[/B] (red line) are seen in the current market environment.[/li][li][B]Pending sell orders[/B] (Green line) are visible at 102.980, deep within supply (103.055-102.742), this area may well appear to be weak now, but the way price reacted at the circled area within supply indicates pro money activity, meaning sell orders may be left unfilled there, so a pending sell order is permitted.[/li][li][B]Near-term pending sell orders [/B](Green line) are seen at 102.367. A pending order is valid here since this is the area where pro money made the ‘decision’ to take prices lower into demand (101.427-101.660), unfilled sell orders were likely left there in the process.[/li][li][B]No P.A confirmation sell orders[/B] (Red line) are seen in the current market environment.[/li][/ul]

[ul]
[li][B]Areas to watch for buy orders:[/B] [B]P.O: (Closed in profit)[/B] 101.679 (SL: 101.404 TP: [1] [B]102.000[/B] [2][B]102.367[/B] [but may be subject to change]) 101.542 (SL: 101.389 TP: 102.000 but may well change if the market sees any new developments) [B]P.A.C:[/B] No P.A confirmation buy orders are seen in the current market environment.[/li][li][B]Areas to watch for sell orders[/B]: [B]P.O:[/B] 102.980 (SL: 103.108 TP: 102.117, but may well change if the market sees any new developments) 102.367 (SL: 102.458 TP: Dependent on how price action approaches this area). [B]P.A.C:[/B] No P.A confirmation sell orders are seen in the current market environment.[/li][li][B]Most likely scenario: [/B]Pro money will likely test the confirmed demand area (101.427-101.660) by pushing/spiking deeper into the zone hunting for active buyers.[/li][/ul]

193

EUR/GBP:

[B]Daily TF.
[/B]
As reported in yesterday’s analysis, active sellers were expected to come into the market around supply (D/S flip area) at 0.80348-0.80576. Enthusiastic sellers have been seen coming into the market already, just before the supply area mentioned above.


[B]4hr TF.
[/B]
A spike/wick above the D/S flip area at 0.80053-0.80176 has been seen, it is very likely that most of the sellers in and around this area have been consumed now.

If price manages to get back down to the ‘decision point’ area (marked with a horizontal level) at 0.79689, we may see pro money fake past this level into true demand at 0.79405-0.79552. Consequently, this will stop out the majority of the buyers around this area, giving pro money their stops which would be sell orders, for them to buy into, thus supplying the pros with the liquidity they need to push prices higher.

If a break above is seen, price will likely see a reaction within supply at 0.80647-0.80583 which is within the daily D/S flip area mentioned above at 0.80348-0.80576.

[B]Pending/P.A confirmation orders:[/B]

[ul]
[li][B]No P.A confirmation buy orders[/B] (Red line) are seen in the current market environment.[/li][li][B]A pending buy order[/B] (Green line) has been set at 0.79580 just above demand at 0.79405-0.79552. The rationale behind this is because buyers have likely consumed the majority of the sellers lurking around supply (D/S flip area) at 0.80053-0.80176, likely clearing the path for higher prices. A small retracement will possibly be seen to collect more buyers for a rally higher, thus triggering our pending buy order.[/li][li][B]No pending sell orders[/B] (Green line) are seen in the current market environment.[/li][li][B]P.A confirmation sell orders[/B] (Red line) under the S/R flip level 0.81403 at 0.81393 is an area where a reaction is likely, however there were too many wicks north seen marked with arrows, indicating sellers are drying up, thus, the need to wait for more confirmation.[/li][li][B]P.A confirmation sell orders [/B](Red line) are seen just under supply (0.80869-0.80771) at 0.80752. Confirmation orders were used here because price is trading around a weekly demand area (0.79596-0.80299), which means price could easily consume this supply level as the higher timeframes usually overrule the lower timeframes.[/li][li][B]P.A confirmation sell orders [/B](Red line) are seen just below supply (0.80647-0.80583) at 0.80293. Confirmation orders were used here because price could easily consume this supply level as we are currently deep within a weekly demand area (0.79596-0.80299), which means price could easily consume this supply level as the higher timeframes usually overrule the lower timeframes.[/li][/ul]

[ul]
[li][B]Areas to watch for buy orders: P.O:[/B] 0.79580 (SL: 0.79368 TP: [1] 0.80000 [2] 0.80583 [May change if any new developments in the market are seen]) [B]P.A.C: [/B]No P.A confirmation buy orders are seen in the current market environment.[/li][li][B]Areas to watch for sell orders[/B]: [B]P.O:[/B] No pending sell orders are seen in the current market environment. [B]P.A.C:[/B] 0.81393 (SL: Will be likely set at 0.81564 TP: Will be likely set at the round number 0.81000) 0.80752 (SL: likely to be set at 0.80900 TP: Dependent on where price ‘confirms’ the level) 0.80293 (SL: likely to be set at 0.80648 TP: Dependent on where price ‘confirms’ the level).[/li][li][B]Most likely scenario: [/B] We will still see a likely decline from where price is currently trading at the moment to 4hr demand below at 0.79405-0.79552. However, a spike above to 4hr supply at 0.80647-0.80583 is not out of the question.[/li][/ul]

194

USD/CAD:

[B]Daily TF.
[/B]
Minor support seen at 1.08142 on the daily timeframe is currently seeing a reaction. It is unlikely a break below will be seen, but if it does, sellers have little obstacles in their way until demand below at 1.05883-1.06779.


[B]4hr TF.[/B]
The diamond formation has been resolved north into supply (1.08907-1.09047), while also triggering our confirmation sell order set at 1.08876. A sharp drop then followed consuming most of the buyers around demand at 1.08142-1.08330, thus confirming the supply area just mentioned above, and allowing us to set a pending sell order within supply, just below the round number 1.09000 at 1.08975.

[B]Pending/P.A confirmation orders:[/B]

[ul]
[li][B]No pending buy orders[/B] (Green line) are seen in the current market environment.[/li][li][B]The P.A confirmation buy order[/B] (Red line) set just above demand (1.08142-1.08330) at [B]1.08348[/B][B]has been cancelled[/B]. Price dropped too far from the confirmation entry level, and buyers at the time of writing, made no attempt to push prices higher.[/li][li][B]New P.A confirmation buy orders [/B](Red line) are seen just above the round number 1.08000 at 1.08024. The reason a pending buy order has been set is for the simple fact, pro money love to spike these areas looking for stops, thus the need to wait for confirmation, rather than getting stopped out time and time again.[/li][li][B]Pending sell orders[/B] (Green line) just below supply (1.10039-1.09875) at 1.09851 will very likely see a nice reaction. However, we should remain aware of the big figure number 1.10000 lurking within the top half of the supply area (levels above), so a bigger stop may be necessary[/li][li][B]New pending sell orders [/B](Green line) are seen at 1.08975, within supply (1.08907-1.09047) just below the round number 1.09000. A pending sell order is permitted to be set here since the sellers confirmed this area from the previous confirmation sell order that was originally set at 1.08876 (marked with a circle), by consuming the majority of the buyers situated in and around demand below at 1.08142-1.08330.[/li][li][B]P.A confirmation sell orders[/B] (Red line) are seen just below the S/R flip level (1.09408) at 1.09361. A P.A.C order was selected here because of the deep wicks seen in and around this area, possibly indicating sellers have been consumed, thus weakening the level on return, and also not forgetting we are currently in higher – timeframe demand (weekly:1.08438 daily: 1.08142).[/li][/ul]

[ul]
[li][B]Areas to watch for buy orders:[/B] [B]P.O:[/B] There are no pending buy orders seen in the current market environment. [B]P.A.C:[/B] 1.08024 SL: Dependent on approaching price action after the level has been confirmed TP: Dependent on approaching price action after the level has been confirmed).[/li][li][B]Areas to watch for sell orders[/B]: [B]P.O:[/B] 1.09851 (SL: 1.10114 TP: [1] 1.09408 [2] 1.09047) 1.08975 (SL: 1.09059 TP: 1.08330 [May change if any new developments in the market are seen]) [B]P.A.C:[/B]1.09361 (SL likely to be set at 1.09513 TP: Dependent on approaching price action after the level has been confirmed).[/li][li][B]Most likely scenario: [/B]Price can do one of two things, we will either see price spike down below to the round number 1.08000, or we will see price rally hard back up to supply at 1.08907-1.09047. The former is more likely as we are in higher-timeframe demand (weekly: 1.08438 daily: 1.08142).[/li][/ul]

195

USD/CHF:

[B]4hr TF.
[/B]
Price has broken out of the mini range (0.90116/0.89643) to the downside as reported may happen in yesterday’s analysis. Our active short order at 0.90063 has had its first target hit at 0.89168, this would be a good time to lock in some profit on this trade and allow the rest to run, giving price the chance to hit our second target below at the daily S/R flip level 0.88501.

If a break below demand at 0.88973-0.89168 and the round number 0.89000 is seen, the sellers have one obvious trouble area (demand 0.88656-0.88816) to contend with before our final target is hit (level above).

[B]Pending/P.A confirmation orders:[/B]

[ul]
[li][B]No pending buy orders[/B] (Green line) are seen in the current market environment.[/li][li][B]P.A confirmation buy orders[/B] (Red line) are seen just above the daily S/R flip level (0.88501) at 0.88533. This level needs to see some confirming price action before any entry is placed in the market, due to their being no logical area for a stop loss order.[/li][li][B]Near-term P.A confirmation buy orders[/B] (Red line) are seen within demand (0.88973-0.89168) at 0.89029, just above the round number 0.89000, as price may retrace to demand to collect unfilled orders deeper within this area.[/li][li][B]The pending sell order[/B] (Green line) visible at the base of supply (0.90381-0.90033) just above the round number 0.90000 [B]at 0.90063 still remains active. The first target has been hit at 0.89168, the second and final target is seen below at 0.88501.[/B][/li][li][B]No P.A confirmation sell orders[/B] (Red line) are seen in the current market environment.[/li][/ul]

[ul]
[li][B]Areas to watch for buy orders[/B]: P.O: There are no pending buy orders seen in the current market environment[B]. [/B][B]P.A.C:[/B] 0.88533 (SL: Dependent on approaching price action after the level has been confirmed TP: Dependent on approaching price action after the level has been confirmed) 0.89029 (SL: likely to be set at 0.88784 TP: Dependent on approaching price action after the level has been confirmed).[/li][li][B]Areas to watch for sell orders[/B]: [B]P.O: (Active – 1[SUP]st[/SUP] target hit)[/B] [B]0.90063[/B] (SL: 0.90412 TP: [1] [B]0.89168[/B][2] 0.88501) [B]P.A.C:[/B] There are currently no P.A confirmation sell orders seen in the current market environment.[/li][li][B]Most likely scenario: [/B]Price will likely see a reaction to the upside from demand at 0.88973-0.89168, with the buyers expected to run out of steam around the lower limit of the mini range above at 0.89643, sellers will likely show more interest then, and begin pushing price south past the demand area just mentioned.[/li][/ul]

196

XAU/USD (GOLD)

[B]Daily TF.[/B]
Buyers have been on fire recently, daily supply at 1295.52-1285.52 has been consumed, the next fresh area of supply on this timeframe is seen above at 1331.13-1318.24.


[B]4hr TF.[/B]
With the volatility seen from the buyers recently, we have seen supply at 1293.47-1285.52 be consumed, thus ending our short trade set at 1284.53, which if managed correctly, one could have still come away with a nice profit.

The next fresh supply area seen on this timeframe is at 1314.49-1309.37, where we have just placed a pending sell order below at 1307.85.

Price will likely hit the supply area above at 1314.49-1309.37 before a break of demand is seen below at 1258.57-1265.27, as there is very little supply seen to the left that has not already been consumed seen with the arrows on the chart.

[ul]
[li][B]Pending buy orders[/B] (Green line) are seen above demand (1231.56-1237.57) at 1238.61 as pro money will in the future likely fake the minor support level at 1240.66 into demand below (levels above).[/li][li][B]New pending buy orders [/B](Green line) are seen just above demand (1258.57-1265.27) at 1268.91. We are permitted to set a pending buy order here as the buyers have consumed sellers within supply above at 1293.47-1285.52.[/li][li][B]The P.A confirmation buy order[/B] (Red line) set just above demand (1258.57-1265.27) at 1266.00[B]has now been confirmed and a pending buy order is permitted to be set.[/B][/li][li][B]The pending sell order[/B] (Green line) set just below supply (1293.47-1285.52) at [B]1284.53 is now closed in profit (if it was managed correctly).[/B][/li][li][B]New pending sell orders [/B](Green line) are seen just below supply (1314.49-1309.37) at 1307.85. A pending sell order was set here since recent price action indicates there may be unfilled sell orders remaining within this supply area as price has only touched the zone, it has yet to penetrate it.[/li][li][B]No P.A confirmation sell orders[/B] (Red line) are seen in the current market environment.[/li][/ul]

[ul]
[li][B]Areas to watch for buy orders:[/B] [B]P.O:[/B] 1238.61 (SL: 1230.64 TP: Dependent on approaching price action) 1268.91 (SL: 1264.30 TP: Dependent on approaching price action)[B] P.A.C:[/B] There are currently no P.A confirmation buy orders seen in the current market environment.[/li][li][B]Areas to watch for sell orders[/B]: [B]P.O: [/B]1284.53 [B](Closed in profit)[/B] (SL: 1294.70 TP: [1] 1273.34 [2] 1266.00 [3] 1240.66) 1307.85 (SL: 1316.52 TP: Dependent on approaching price action) [B]P.A.C:[/B]There are currently no P.A confirmation sell orders seen in the current market environment.[/li][li][B]Most likely scenario: [/B]Price will likely see a small retracement very soon, before advancing to supply at 1314.49-1309.37 as there is very little supply left above to stop price as most of it has been consumed by the 2 wicks (marked with arrows).[/li][/ul]

197

EUR/USD:

[B]Weekly TF.[/B]
Price still remains trading within weekly demand seen at 1.34770-1.36771. No break was seen of the previous weekly high or low (1.36688/1.35124) with price closing just below the round number 1.36000 at 1.35997.

Supply at 1.42470-1.38580 is currently capping price to the upside, and demand below at 1.34770-1.36771 is capping price to the downside.

[B]Daily TF.[/B]
The previous week’s trading action has shown there to be active buyers within daily demand at 1.34770-1.35557, which is also situated deep within weekly demand (1.34770-1.36771) as mentioned above.

Price remains capped between the daily demand area just mentioned (1.34770-1.35557) and supply above at 1.37342-1.36890. Anything in between here is secondary and considered insignificant on this timeframe.

If a break below demand (levels above) is seen, this would likely force price to test demand below at 1.33995-1.34385, which is situated within weekly demand below the current one at 1.32953-1.34869 (see above). Conversely a break above supply may clear the path for a test of the S/R flip level seen at 1.37931.

[B]4hr TF.[/B]
The long-term bias still remains long due to the higher timeframes being seen trading around demand as explained above. However, on the 4hr timeframe, we are capped between demand below at 1.35036-1.35312 and supply above at 1.36666 (minor resistance) with the round number 1.36000 lurking in between.

A break above supply (1.36666) is more likely to happen before we see a break of demand below at 1.35036-1.35312. If a break above does indeed happen, price will likely test the lower of the two stacked supply areas at 1.37235-1.37005 where a reaction/bounce may be seen to the downside.

[B]Pending/P.A confirmation orders:[/B]

[ul]
[li][B]Pending buy orders [/B](Green line) are seen around demand (1.33995-1.34298) at 1.34368. This demand area will more than likely see some sort of reaction due to its location seen to the left.[/li][li][B]No P.A confirmation buy orders [/B](Red line) are seen in the current market environment.[/li][li][B]Pending sell orders[/B] (Green line) seen at 1.36955 just below supply at 1.37235-1.37005 are set here since this level remains untouched, meaning unfilled orders are likely still set around this area.[/li][li][B]P.A confirmation sell orders[/B] (Red line) are visible below the minor resistance 1.36666 at 1.36625, this level has proved valid in the past, but still needs to be confirmed due to a spike/wick (circled) seen above resistance, which may have consumed most of the sellers originally there.[B]Do be on your guard with the sell orders above; the higher-timeframes are currently indicating that higher prices may be seen this week (Weekly demand: 1.34770-1.36771 Daily demand: 1.34770-1.35557).[/B][/li][/ul]

[B]Quick Recap:[/B]
Price will likely remain trading within where price is currently capped (Supply: 1.36666 Demand: 1.35036-1.35312). Our confirmation sell order at 1.36625 sitting just below the supply area just mentioned above may be hit, as it is very doubtful price will break either one of capped areas (levels above) anytime today.

[ul]
[li][B]Areas to watch for buy orders:[/B] [B]P.O:[/B] 1.34368 (SL: 1.33926 TP: Dependent on how price action approaches the zone) [B]P.A.C: [/B]No P.A confirmation orders seen in the current market environment.[/li][li][B]Areas to watch for sell orders[/B]: [B]P.O:[/B] 1.36955 (SL: 1.37270 TP: [1] 1.36666 [2] 1.36000) [B]P.A.C:[/B]1.36625 (SL: 1.36810 TP: Dependent on where price ‘confirms’ the level).[/li][/ul]

198

GBP/USD:

[B]Weekly TF.[/B]
Much the same as Friday’s analysis, the buyers were seen making an advance towards weekly supply at 1.76290-1.70490, a small reaction has been seen forming what the majority of traders may call an ‘indecision candle’.

Any long trades taken on the lower timeframes will now have to be done with caution as well-funded long-term traders may be looking to short this area, or even liquidate their long positions here, thus creating a sell off.


[B]Daily TF.[/B]
The daily timeframe shows the buyers have attempted to consume some of the sellers around daily supply at 1.70410-1.68880 with two wicks/spikes being seen above it.

As already mentioned above, weekly timeframe supply (1.76290-1.70490) has just been hit, so this break of daily supply (levels above) could just be a fakeout to stop out sellers, and break out buyers, for the overall bigger push down.

The weekly close came in at 1.70135 just above the big figure number 1.70000, meaning [B]if[/B] the two wicks seen above daily supply (levels above) was indeed a fakeout, the first trouble area would in fact be the round number just mentioned above, and then eventually the S/R flip level just below at 1.69210, So, it will be interesting to see what price action unfolds this coming week.


[B]4hr TF.[/B]
A Sharp decline was seen on Friday, right into the round number 1.70000, with a slight bullish reaction being seen.

Traders will need to be very careful going long around this big figure level (level above) as already explained above, we are currently trading at the base of weekly supply (1.76290-1.70490) so price could turn bearish at any time without warning! So, as always expect the unexpected!

[B]Pending/P.A confirmation orders:[/B]

[ul]
[li][B]Pending buy orders [/B](Green line) are seen at 1.67610 just above demand at 1.67378-1.67583. A pending order is valid here due to the momentum away from the demand area, indicating orders may be left unfilled here.[/li][li][B]P.A confirmation buy orders[/B] (Red line) are seen just above the round number 1.68000 at 1.68038. A reaction may be likely here because of the way pro money used this level to rally prices higher with force, a quick change in direction like this likely indicates pro money activity, thus, all of their orders may have not been filled at that time. The reason a pending order is not used here is because pro money, on a regular basis perform deep stop hunts around big figure levels (1.68000), and these tails/wicks can be huge sometimes, hence the need to wait for confirmation.[/li][li][B]P.A confirmation buy orders [/B](Red line) are seen just above minor support (1.69431) at 1.69482. A reaction north is likely to be seen here, however we are currently seeing higher-timeframe supply being hit on the weekly timeframe at 1.76290-1.70490, hence the need for a confirmation buy order, rather than a pending buy order.[/li][li][B]The P.A confirmation buy order [/B](Red line) set just above the round number 1.70000 at [B]1.70034[/B][B]is now active.[/B] For this level to be confirmed, buyers will need to rally price and [B]consume the majority of sellers around the high marked with an x at 1.70597[/B], a pending buy order can then be set, awaiting a possible retracement.[/li][li][B]No pending sell orders [/B](Green line) are seen in the current market environment.[/li][li][B]No P.A confirmation sell orders [/B](Red line) are seen in the current market environment.[/li][/ul]

[B]Quick Recap:[/B]
The confirmation buy order seen just above the round number 1.70000 at 1.70034 has been hit, buyers will need to rally price from here to confirm this level, however do be aware, we have just hit higher-timeframe weekly supply at 1.76290-1.70490 so a sell off could be seen very soon, so do remain vigilant!

[ul]
[li][B]Areas to watch for buy orders:[/B] [B]P.O:[/B] 1.67610 (SL: 1.67345 TP: [1] 1.68000 [2] 1.69000 [likely to be changed, depending on price approach]). [B]P.A.C:[/B] 1.68038 (SL: Dependent on approaching price action after the level has been confirmed TP: Dependent on approaching price action after the level has been confirmed). 1.69482 (likely to be set at 1.69176 TP: Dependent on approaching price action after the level has been confirmed) 1.70034 [B](Active-awaiting confirmation)[/B] (SL: likely to be set at 1.69811 TP: Dependent on approaching price action after the level has been confirmed).[/li][li][B]Areas to watch for sell orders[/B]: [B]P.O:[/B] No pending sell orders seen in the current market environment. [B]P.A.C: [/B]No P.A confirmation sell orders seen in the current market environment.[/li][/ul]

199

AUD/USD:

[B]Weekly TF.[/B]
Price has not seen much change since the last weekly analysis, as price continues to consolidate in and around the weekly S/R flip level at 0.93718. Keep watching this consolidated area for a positive break either above or below the limits, because this may give us an idea on possible long-term direction.


[B]Daily TF.[/B]
The daily timeframe shows sellers seem to be struggling to keep control around the daily supply area at 0.94468-0.93758, with the buyers appearing too strong on this occasion.

A piece from last week’s analysis that is worth remembering:
[I]The circled wick to the left could be a sign that the aforementioned supply area is weak. This spike could have likely consumed the majority of sellers in and around this area, indicating pro money may likely push prices higher to at least fresh supply above at 0.95434-0.94862 which may even be a fakeout to push prices lower, only time will tell.[/I]

[B]4hr TF.[/B]
There were clearly active sellers [B]around[/B] the highs marked with an x at 0.94299 as a beautiful bearish reaction was seen.

This however, does not mean the highs above at 0.94613 will not be hit, as this could still be beneficial for pro money, as they still may decide to fake these highs up to the next set of highs at 0.94613 (circled to the left). If we think about this logically for a moment, there are clearly sellers at the highs marked with an x (0.94299), this means there will also be buy stops just above the actual high at 0.94375, and also breakout buyers’ orders, with the high at 0.94613 being seen just above this is a perfect fakeout zone for pro money as they need all those buy orders to sell into! So do be on your guard for this to possibly happen sometime this week.

Price is currently capped between supply at 0.94299 and demand (D/S flip area) at 0.93186-0.93345. A break below this demand area will possibly force price to test the round number below at 0.93000, conversely, a break above supply (highs) would likely see price testing the oncoming highs at 0.94613 marked with a circle to the far left.

[B]Pending/P.A confirmation orders:[/B]

[ul]
[li][B]No pending buy orders[/B] (Green line) are seen in the current market environment.[/li][li][B]P.A confirmation buy orders[/B] (Red line) are seen at 0.92231 just above demand at 0.92037-0.92203. It would be too risky to set a pending order around this area, since deep spikes into this demand zone have been seen (levels above) possibly consuming the majority of buyers in the process.[/li][li][B]P.A confirmation buy orders[/B] (Red line) are visible just above the round number 0.93000 at 0.93025. We require confirmation of this level because previous price action has warned us deep tests both north and south happen on a regular basis, hence the need to wait for confirmation rather than getting stopped out time after time through lack of patience.[/li][li][B]Pending sell orders[/B] (Green line) are seen at 0.94447, if price manages to get up to this level, active sellers are likely waiting because of how quickly price changed in direction, only pro money have the account size to do this, indicating unfilled sell orders may still be unfilled there.[/li][li][B]No P.A confirmation sell orders [/B](Red line) are seen in the current market environment.[/li][/ul]

[B]Quick Recap:[/B]
The weekly timeframe shows price is currently consolidating around weekly resistance at 0.93718 and the daily timeframe shows price is currently trading within weak supply at 0.94468-0.93758. Today, price will likely remain trading between the highs/close at 0.94375/0.94299 and demand (D/S flip area) below at 0.93186-0.93345, with a break above the highs (level above) being more likely before we see a break of demand (levels above) below, due to weak daily supply (levels above) as explained in the detailed analysis above.

[ul]
[li][B]Areas to watch for buy orders:[/B] [B]P.O:[/B] No pending orders are seen with current price action[B]. P.A.C:[/B]0.92231 (SL: more than likely will be at 0.91984 TP: Dependent on approaching price action after the level has been confirmed) 0.93025 (SL: Dependent on approaching price action after the level has been confirmed TP: Dependent on approaching price action after the level has been confirmed).[/li][li][B]Areas to watch for sell orders[/B]: [B]P.O:[/B] 0.94447 (SL: 0.94667 TP: Dependent on approaching price action). [B]P.A.C:[/B] No P.A confirmation sell orders seen in the current market environment.[/li][/ul]

200

USD/JPY:

[B]Weekly TF.[/B]
On the weekly timeframe, price still remains trading above the S/R flip level at 101.254, with no attempt to break below seen yet.

The recently closed weekly candle, formed what the majority of traders call an ‘indecision candle’ with no break of the previous weekly high/low (102.650/101.606) being seen.

Price still remains capped between supply above at 105.441-104.075 and demand below (S/R flip level) at 101.254, with the long-term bias still being seen as long [B]on this timeframe.[/B]

[B]Daily TF.[/B]
Price is currently capped between demand (S/D flip area) at 101.532-100.787 and supply (minor resistance) at 102.645 with an attempt to break either area not yet being seen.

A break below the S/D flip area (levels above) could force price to test demand at 99.571-100.255, this could be a lovely demand area to help facilitate a fakeout of the weekly S/R flip level support on the weekly timeframe at 101.254. A break above daily -timeframe minor resistance at 102.645 may see buyers pushing price all the way up to supply at 104.114-103.812.

[B]4hr TF.[/B]
Price remains capped between the decision point seen above (supply) at 102.367, and demand below at 101.427-101.660. At the time of writing, it is very difficult to guestimate which area will likely see a break first on this timeframe, as we have not got much information from the higher timeframes regarding possible direction (see above). The safest bet at the moment would be to play the limits where price is capped (levels above), but do remain vigilant to the fact a break of either one of these areas is possible (levels above) anytime during the week.

[B]Pending/P.A confirmation orders:[/B]

[ul]
[li][B]Pending buy orders [/B](Green line) are seen deeper within demand (101.427-101.660) at 101.542. A pending order is valid here since pro money are frequently seen testing deeper in confirmed demand areas such as this, for active buyers.[/li][li][B]No P.A confirmation buy orders[/B] (red line) are seen in the current market environment.[/li][li][B]Pending sell orders[/B] (Green line) are visible at 102.980, deep within supply (103.055-102.742), this area may well appear to be weak now, but the way price reacted at the circled area within supply indicates pro money activity, meaning sell orders may be left unfilled there, so a pending sell order is permitted.[/li][li][B]Near-term pending sell orders [/B](Green line) are seen at 102.367. A pending order is valid here since this is the area where pro money made the ‘decision’ to take prices lower into demand (101.427-101.660), unfilled sell orders were likely left there in the process.[/li][li][B]No P.A confirmation sell orders[/B] (Red line) are seen in the current market environment.[/li][/ul]

[B]Quick Recap:[/B]
Price is currently capped between the decision point (supply) above at 102.367, and demand below at 101.427-101.660. A break of these areas are very unlikely to be seen today, however a re-test of the decision point may happen soon, which will subsequently fill our pending sell order at 102.367 which was so very nearly filled last week!

[ul]
[li][B]Areas to watch for buy orders:[/B] [B]P.O: [/B]101.542 (SL: 101.389 TP: 102.000 but may well change if the market sees any new developments) [B]P.A.C:[/B] No P.A confirmation buy orders are seen in the current market environment.[/li][li][B]Areas to watch for sell orders[/B]: [B]P.O:[/B] 102.980 (SL: 103.108 TP: 102.117, but may well change if the market sees any new developments) 102.367 (SL: 102.458 TP: Dependent on how price action approaches this area). [B]P.A.C:[/B] No P.A confirmation sell orders are seen in the current market environment.[/li][/ul]