Daily Market Analysis by IC Markets

Commercial Content Analysts
221

EUR/USD:

[B]Daily TF.[/B]
The daily timeframe has not seen much of a change recently; however a reminder will not hurt. Daily demand at 1.34770-1.35557 is currently capping price to the downside, with supply above at 1.37342-1.36890 capping price to the upside.

A break above the supply area just mentioned could force price to test the S/R flip level at 1.37931, conversely, a break below the demand area mentioned above, would likely see price testing oncoming demand seen at 1.33995-1.34385. We favor the former to happen as we are still trading within a much larger demand area seen on the weekly timeframe at 1.34770-1.36771.


[B]4hr TF.[/B]
Chart one below shows how price faked out above the original ascending triangle, and then pushed hard to downside, seeing price trading within the triangle once more, a nice fakeout north has been seen here!

Chart 1:

[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).[/B][/li][/ul]

Chart two is follow on from chart one above, showing all price has done is continued forming the triangle around the round number 1.36000. Again, similar to the last analysis, price will likely break the triangle to the upside and then retest it, before advancing towards minor resistance at 1.36666.

A snippet from yesterday’s analysis, just in case anyone missed it:
[I]Price still remains capped between demand below at 1.35036-1.35312 and supply above at 1.36666 (minor resistance). A break above this supply could see price testing oncoming supply at 1.37235-1.37005; conversely, if price breaks the demand area (levels above) below, price could very well hit demand at 1.33995-1.34298.
[/I]
Chart 2:

[B]Quick Recap:[/B]
A small fakeout north was seen out of the ascending triangle seen on the 4hr chart, however, all price did was essentially expand the triangle rather than break it. Price is very condensed within the triangle at present, a break to the upside is highly expected, which will see our P.A confirmation sell order set at 1.36625 get triggered.

[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]

222

GBP/USD:

[B]4hr TF.[/B]
A quick reminder of the higher timeframes from the last analysis is always good to help keep the bigger picture in mind. The weekly timeframe shows active sellers around the base of weekly supply at 1.76290-1.70490 coming into the market. The daily timeframe shows sellers are now pushing down from supply at 1.70410-1.68880 into the first likely trouble area seen at an S/R flip level (1.69210) just below.

On the 4hr timeframe, pro money sellers clearly had enough liquidity to push price south to around the minor support level at 1.69431 after breaking the huge round number 1.70000. However, notice that the move down was not exactly flowing with selling enthusiasm, it was more compressed, meaning pro money may have been entering small buy orders into the market around there while price was dropping (thus clearing sellers out for a possible rally higher), once the selling pressure dries up around this area, price will be free to advance to either the round number just mentioned above, or the decision point area at 1.70320-1.70233.

Price is now temporarily capped between acting resistance at the round number 1.70000, and minor support below at 1.69431, we still favor a break to the downside at the moment with all things being considered.

[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]Pending sell orders [/B](Green line) are seen just within the decision point supply area (1.70320-1.70233) at 1.70241. A pending sell order is valid here due this being the last decision point seen before pro money broke the round number 1.70000 to the downside meaning unfilled order may be left 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]
A bearish reaction on the higher timeframe supply areas (Weekly: 1.76290-1.70490, Daily: 1.70410-1.68880) are still being seen, whilst the 4hr timeframe shows price is trading within the round number 1.70000 above current price, and minor support below at 1.69431. Price will likely break the support area just mentioned, however a rally in higher prices may be seen to either the round number just mentioned, or even the decision point [B]level[/B] seen at 1.70241 (which is where we currently have our pending sell order located) before a break south is visible.

[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).[/li][li][B]Areas to watch for sell orders[/B]: [B]P.O:[/B] 1.70241 (SL: 1.70352 TP: [1] 1.70000, subject to change depending on how future price action unfolds) [B]P.A.C: [/B]No P.A confirmation sell orders seen in the current market environment.[/li][/ul]

223

AUD/USD:

[B]Daily TF.[/B]
There are currently active sellers seen within daily supply at 0.94468-0.93758, however this selling activity could be short lived. The circled wick to the left of the chart shows where the majority of sellers in and around this daily supply area may have been consumed, so be on your guard for a possible bullish reversal, and exit positions if price on the lower timeframes indicate to do so!


[B]4hr TF.[/B]
The sellers are taking no prisoners on this timeframe, a beautiful reaction around the highs (circled shown on chart one below) at 0.94613 was seen, and price has currently consumed the last (demand) decision point area at around 0.93894, which was where the ‘decision’ was initially made by pro money to form the higher high in the first place.

A retest of the decision point level just mentioned is currently taking place, at present there is little stopping price from hitting demand (D/S flip area) below at 0.93186-0.93345.

[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]The pending sell order[/B] (Green line) set at [B]0.94447[/B] around the high 0.94613 (marked with a circle), [B]the first target set at 0.93894 has been hit, and the second target is seen below at 0.93436.[/B][/li][li][B]No P.A confirmation sell orders [/B](Red line) are seen in the current market environment.[/li][/ul]


Chart 1:

[B]Quick Recap:[/B]
Sellers have been seen trading in and around possible weak daily supply at 0.94468-0.93758, while on the 4hr timeframe our sell order is still live at 0.94447, and is presently showing a nice profit. Sellers have recently consumed an important decision point area at 0.93894, and at the time of writing shows very little stopping price from dropping even further to at least the demand area at 0.93186-0.93345 where our second take profit level is sitting (0.93436).

[ul]
[li][B]Areas to watch for buy orders:[/B] [B]P.O:[/B] No pending buy 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 [B](Active – 1[SUP]st[/SUP] target hit)[/B] (SL: 0.94667 TP: [1] [B]0.93894[/B][2] 0.93436). [B]P.A.C:[/B] No P.A confirmation sell orders seen in the current market environment.[/li][/ul]

224

USD/JPY:

[B]4hr TF.[/B]
Chart one below shows how price broke the round number 102.000 to get to the ‘possible’ decision point area at 102.096, where a nice little reaction was seen.

Below on chart two, a large triangle formation has been spotted coupled with the round number 102.000 within; the decision point area mentioned above has been removed as this has likely been consumed already. It is very difficult to tell which way this triangle will break as the higher timeframes are not giving much information regarding possible direction.

If price breaks above, we will likely see a test around the decision point area at 102.367, conversely, a break below could see price dropping to within demand at 101.427-101.660.

[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]

Chart 1:

Chart 2:

[B]Quick Recap:[/B]
The decision point area marked up on chart one got hit, and more than likely consumed. A large triangle formation has been spotted shown on chart two, with a break either side possible at this moment in time. A break above could fill our pending sell order at 102.367 which is a very important area, conversely a break below could see our pending buy order getting filled deep within demand (101.427-101.660) at 101.542.

[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]

225

EUR/GBP:

[B]Daily TF.[/B]
A bearish reaction is currently being seen around the daily supply (D/S flip area) at 0.80348-0.80576, will the buyers have any strength to fight the selling pressure seen here? The weekly timeframe seems to think so, as price is seen trading deep within weekly demand at 0.79596-0.80299, so a break above the daily supply area just mentioned is likely to happen.


[B]4hr TF.[/B]
Supply at 0.80647-0.80583 has been hit; this supply area is quite a risky level to go short off of due to the weekly timeframe showing price trading within weekly demand (levels above). A nice bearish reaction however could still be seen here, but nothing drastic is expected, as pro money likely know we are in higher-timeframe weekly demand, and they will no doubt attempt to take advantage of this.

Price is temporarily capped between the supply area just mentioned above at 0.80647-0.80583 and acting support below at the round number 0.80000.

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

[ul]
[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 the round number 0.80000 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 P.A confirmation buy orders[/B] (Red line) are seen in the current market environment.[/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[B]is now active. Considering the higher-timeframe location seen on the weekly chart (Weekly demand: 0.79596-0.80299) , the sellers will need to consume the majority of the buyers around the 4hr demand area below at 0.79405-0.79552; a pending sell order can then be set awaiting a possible retracement[/B].[/li][/ul]


[B]Quick Recap:[/B]
Our P.A confirmation sell order set at 0.80293 was triggered recently around supply at 0.80647-0.80583. We may likely see a bearish reaction here possibly to demand below at 0.79405-0.79552, but do not expect it, as price is currently trading within weekly demand at 0.79596-0.80299, and as most of us know, the higher timeframe usually overrules!

[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 [B](Active-awaiting confirmation)[/B] (SL: likely to be set at 0.80648 TP: Dependent on where price ‘confirms’ the level).[/li][/ul]

226

USD/CAD:

[B]4hr TF.[/B]
Technically, price has not changed much on the 4hr timeframe since the last analysis. We have recently seen price consolidating around the 4hr S/R flip level at 1.07266, with a breakout north of this small consolidation being seen, only for price to push hard back into where price was originally consolidating.
It is not looking too promising for the buyers at the moment even though we are in weekly demand at 1.05609-1.07372. If we see a break lower, price will likely test the round number immediately below at 1.07000.

As mentioned in yesterday’s analysis, price could [I]drop hard towards daily demand at 1.05883-1.06779, and then see a bullish reaction; the beautiful thing about this though is that price would never leave the confines of the weekly demand area[/I], [B]so this is something we possibly need to bear in mind In the near future.
[/B]
[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 the S/R flip level (1.07266) at 1.07325 [B]is now active.[/B] Buyers will need to confirm this level by [B]consuming the sellers around the high 1.07759 marked with an x[/B], a pending buy order can then be set, awaiting a possible retracement.[/li][li][B]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 by consuming the majority of the buyers situated in and around (which was) demand at 1.08142-1.08330 (Seen on Thursday 19[SUP]th[/SUP] June daily analysis).[/li][li][B]Pending sell orders [/B](Green line) are seen within the decision point supply area (1.08251-1.08164) at 1.08226. Pending orders are valid here due this likely being the work of pro money, the momentum out of the zone is only caused by traders with big accounts, and when pro money move the market, all of their orders here were unlikely to have been filled, hence a pending order being logical here.[/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 still seen consolidating around the 4hr S/R flip level at 1.07266, where we currently have a P.A confirmation buy order active, which is not looking too promising at the moment. Judging by recent price action, we will likely see a decline to the round number 1.07000, if price fails to hold there, we are very likely heading for daily demand at 1.05883-1.06779.

[ul]
[li][B]Areas to watch for buy orders:[/B] [B]P.O:[/B] There are no pending buy orders seen within the current market environment.[B] P.A.C:[/B] [B]1.07325[/B] [B](Active-awaiting confirmation)[/B] SL: likely to be set at 1.07152 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]1.08975 (SL: 1.09059 TP: 1.08330 [May change if any new developments in the market are seen]) 1.08226 (SL: 1.08357 TP: Dependent on approaching price action) [B]P.A.C:[/B] There are no P.A confirmation sell orders seen within the current market environment.[/li][/ul]

227

USD/CHF:

[B]4hr TF.[/B]
The Sellers have recently broken the ‘possible’ decision point area at 0.89283 consuming any of the buyers left around that area. Sellers quickly ran into trouble around demand at 0.88973-0.89168 as buyers have begun to show interest, nevertheless, this demand area appears weak due to the amount of touches it has seen, so a break south is very likely at the moment.

Overall, price remains capped between the low of the mini range above at 0.89643 acting as temporary resistance, and demand below at 0.88973-0.89168.

[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, we are allowing our final position to run, giving price room to move and hopefully hit our final target at the daily S/R flip level (0.88501).[/B][/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 ‘possible’ decision point area at 0.89283 has now been consumed south, which is a fantastic sign for our current sell position above at 0.90063. Price is currently seen trading within demand at 0.88973-0.89168, which appears weak, we also have a P.A confirmation buy order set within here at 0.89029, which will very likely fail if it is triggered. Price will likely consume the demand area just mentioned and begin making its way down to oncoming demand at 0.88656-0.88816, by this time we will begin moving our stop very close to current price action.

[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][/ul]

228

XAU/USD (GOLD)

[B]Daily TF.[/B]
This daily supply area at 1331.13-1318.24 is becoming a little concerning at the moment, there has been no positive bearish close seen, and the tails currently seen forming indicate that buyers may well be too strong for any of the sellers there.


[B]4hr TF.[/B]
A nice tail/spike (marked with an arrow) has been seen below demand (S/D flip area) at 1314.49-1309.37, which may have possibly consumed/stopped out most of the buyers that were situated there. A further rally up into supply at 1331.13-1327.42 is likely to happen as pro money may not have enough liquidity to drop price all the way to the next demand area which is currently seen below at 1284.88-1280.74. If price were to break above this supply area just mentioned, we would likely see a test of oncoming supply at 1342.46-1337.02 which could in fact help facilitate a nice fakeout of the daily supply area at 1331.13-1318.24, but only time will tell.

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

[ul]
[li][B]Pending buy orders [/B](Green line) are seen within demand (S/D flip area… 1284.88-1280.74) at 1282.82. We have set a pending buy order here due to the fact there was a decision made here (marked by the black horizontal level, when decisions are made by pro money, they may be unfilled buy orders left there, hence the fact we have set our pending order there.[/li][li][B]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 (which was at the time of writing) supply at 1293.47-1285.52, as per the previous confirmation buy order originally set at 1266.00 [B](See Thursday 19[SUP]th[/SUP] June for details).[/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 seen just below the supply/decision point (1331.13-1327.42) at 1325.90. A pending sell order was set here because this area is deep within daily supply (1331.13-1318.24) and the momentum away from the area indicates unfilled orders may well be left 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 daily timeframe shows sellers are currently struggling around daily supply at 1331.13-1318.24, while on the 4hr timeframe a decision needs to be made. Price will either have to consume and break supply at 1331.13-1327.42, or consume and break demand below at 1314.49-1309.37.

We however, favor the latter, because we are presently trading in and around in higher-timeframe daily supply (levels above) If this does indeed happen, our pending sell order set at 1325.90 may well be filled as pro money may perform a deeper test of supply above at 1331.13-1327.42 to help fill the liquidity requirements (buy orders to sell into) for the overall sell off.

[ul]
[li][B]Areas to watch for buy orders:[/B] [B]P.O:[/B] 1268.91 (SL: 1264.30 TP: Dependent on approaching price action) 1282.82 (SL: 1275.12 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]1325.90 (SL: 1332.71 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][/ul]

229

EUR/USD:

[B]Daily TF.[/B]
Not much of a change has been seen to the daily timeframe price action, as we still see price capped between supply above at 1.37342-1.36890 and demand below at 1.34770-1.35557.

The small trendline placed on the chart is not there to represent a trend, it is more to show how pro money may be consuming small pockets of demand as price is rallying higher, thus clearing a path south for sellers to take over.


[B]4hr TF.[/B]
A breakout north of the ascending triangle has been seen, and is currently seen retesting it. On the breakout north, price missed the minor resistance level at 1.36666 by about 15 pips, if price successfully retests the triangle, a push higher to the minor resistance level may well be seen sometime today.

This was written a few days ago while analyzing this pair, but still holds true and is worth remembering:
[I]Price still remains capped between demand below at 1.35036-1.35312 and supply above at 1.36666 (minor resistance). A break above this supply could see price testing oncoming supply at 1.37235-1.37005; conversely, if price breaks the demand area (levels above) below, price could very well hit demand at 1.33995-1.34298.
[/I]
[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 higher prices may happen soon (Weekly demand: 1.34770-1.36771).[/B][/li][/ul]

[B]Quick Recap:[/B]
The price action seen on the daily timeframe appears to be showing weakness when it left daily demand at 1.34770-1.35557, while on the 4hr timeframe a breakout of the ascending triangle has been seen, where price is currently retesting it at the moment. A spike south towards the round number 1.36000 may happen, collecting stops from eager buyers, where an advance up to at least the minor resistance area at 1.36666 is expected, however, do bear in mind that the daily timeframe is not showing strong buying in the market at present, so remain aware of this fact today when considering any long positions.

[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]

230

GBP/USD:

[B]Weekly TF.[/B]
It appears that sellers are beginning to run out of steam, no positive bearish price action is currently being seen, so a push deeper within weekly supply at 1.76290-1.70490 may well be expected to happen soon.


[B]Daily TF.[/B]
The sellers did not even make it to the first trouble area at the S/R flip level below (1.69210) before the buyers began showing interest, this does not look good for sellers at the moment, as a break above may well be seen with little stopping price from hitting the next fresh supply at 1.76290-1.73110 situated deep within the weekly supply mentioned above.


[B]4hr TF.[/B]
The buyers have recently been very active, a touch of the round number 1.70000 was seen, and a small bearish reaction followed, however it did not take long for the buyers to gather enough liquidity (sell orders to buy into) to break the round number with a nice-looking bullish candle. Price traded right into our decision point area (supply) at 1.70320-1.70233, where at the time of writing the sellers seem to be struggling against the current buying onslaught.

If price breaks above this supply area just mentioned, there is very little stopping price from advancing, history on this timeframe is not available back to where we require it, so we can only assume price will visit a higher timeframe supply area on the daily chart seen at 1.76290-1.73110.

[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 pending sell order [/B](Green line) set just within the decision point supply area (1.70320-1.70233) [B]has been stopped out within a pip (at the time of writing).[/B][/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]
Buyers are becoming more active around weekly supply at 1.76290-1.70490, while on the daily timeframe, the first trouble area for the sellers (S/R flip level 1.69210) was not even hit before buyers came into the market. The 4hr timeframe shows buyers currently doing battle with sellers around a decision point area at 1.70320-1.70233 where our pending sell order was filled and then very shortly stopped out. If the buyers win here, price will likely be seeing much higher prices trading deeper into weekly supply (levels above).

[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).[/li][li][B]Areas to watch for sell orders[/B]: [B]P.O:[/B] 1.70241 [B](Stopped out)[/B] (SL: 1.70352 TP: [1] 1.70000, subject to change depending on how future price action unfolds) [B]P.A.C: [/B]No P.A confirmation sell orders seen in the current market environment.[/li][/ul]

231

AUD/USD:

[B]Daily TF.[/B]
Indecisive price action is currently seen within daily supply at 0.94468-0.93758.


[B]4hr TF.[/B]
The buyers have recently taken over the market, a small bearish reaction at the round number 0.94000 was seen, but subsequently got broken, then retested for a possible advance north which is currently happening at the moment.

If buyers have the strength to continue, we will likely see our decision point supply at 0.94270 get hit, which will possibly push price down to at least the round number below at 0.94000.

[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]The pending sell order[/B] (Green line) set at [B]0.94447[/B] around the high 0.94613 [B]has seen[/B] [B]the first target set at 0.93894 hit, with the second target being seen below at 0.93436.[/B][/li][li][B]New Pending sell orders [/B](Green line) are seen at a decision point supply area (0.94270) at 0.94251. The reason a pending sell order can be set here is because this is the last obvious decision made by pro money, where unfilled sell orders may still be lurking.[/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 daily timeframe is showing indecisiveness within daily supply at 0.94468-0.93758, while on the 4hr timeframe active buyers are currently being seen. Price nearly hit our second target (0.93436) on our remaining short position above at 0.94447, but as we agreed, we were going to let price run. Price will likely push higher into our pending sell order seen at 0.92451 just below a decision point area at 0.94270 as this is the next fresh supply area currently being seen.

[ul]
[li][B]Areas to watch for buy orders:[/B] [B]P.O:[/B] No pending buy 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 [B](Active – 1[SUP]st[/SUP] target hit)[/B] (SL: 0.94667 TP: [1] [B]0.93894[/B][2] 0.93436) 0.94251 (SL: 0.94329 TP: [1] 0.94000 [2] 0.93671, but may be changed if any new developments are seen in the market). [B]P.A.C:[/B] No P.A confirmation sell orders seen in the current market environment.[/li][/ul]

232

USD/JPY:

[B]4hr TF.[/B]
Chart one below shows price aggressively broke out of the triangle formation to the downside, consequently hitting demand below at 101.427-101.660 as reported may happen in the last analysis if a break south was seen.

Chart 1:

Chart two below shows a new decision point (supply) level has formed at 102.103, as the sellers have confirmed this area by consuming multiple lows below. Price will likely bounce in between supply just mentioned above (102.103) and demand below at 101.427-101.660 for most of today.

Higher timeframes show price will likely see 4hr demand holding, with 4hr supply above breaking first (levels above), as we are in higher timeframe demand (Weekly: 101.254 Daily: 101.532-100.787), but as always, expect the unexpected and remain vigilant to what the lower timeframe price action tells you!

[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]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 break the low 102.113 and take prices lower into demand (101.427-101.660) meaning unfilled sell orders were likely left there in the process.[/li][li][B]New pending sell orders [/B](Green line) are seen at a decision point (102.103) at 102.084. Pending sell orders are viable here due to this being an important decision point level where pro money decided to break multiple lows and visit demand below at 101.427-101.660, thus giving the impression unfilled sell orders may be left there as price did change direction very quickly.[/li][li][B]No P.A confirmation sell orders[/B] (Red line) are seen in the current market environment.[/li][/ul]

Chart 2:

[B]Quick Recap:[/B]
The recent triangle formation spotted on the 4hr timeframe (chart one) saw a strong break south trading right into demand at 101.427-101.660. A new decision point level has formed, also on the 4hr timeframe, at 102.013 where we have set a pending sell order just below at 102.084. Price will likely break supply above (102.013) before breaking the demand area just mentioned, as the higher timeframes are currently trading around demand (Weekly: 101.254 Daily: 101.532-100.787).

[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) 102.084 (SL: 102.184 TP: Dependent on how price approaches this area) [B]P.A.C:[/B] No P.A confirmation sell orders are seen in the current market environment.[/li][/ul]

233

EUR/GBP:

[B]Daily TF.[/B]
A beautiful to-the-pip reaction has been seen off the daily D/S flip area (supply) at 0.80348-0.80576, the first trouble area for sellers is demand below at 0.79282-0.79649.


[B]4hr TF.[/B]
It was reported in the last analysis that [I]Supply at 0.80647-0.80583 has been hit; this supply area is quite a risky level to go short off of due to the weekly timeframe showing price trading within weekly demand at 0.79596-0.80299.[/I] Even though this statement is still true, strong selling from the supply area mentioned above is being seen, however this could be short lived, so do be prepared for that. If we see a positive break below demand at 0.79405-0.79552 however, we can then begin looking for shorting opportunities if this does indeed happen.

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

[ul]
[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 the round number 0.80000 and supply above at 0.80647-0.80583 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 P.A confirmation buy orders[/B] (Red line) are seen in the current market environment.[/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[B]is now active. Considering the higher-timeframe location seen on the weekly chart (Weekly demand: 0.79596-0.80299) , the sellers will need to consume the majority of the buyers around the 4hr demand area below at 0.79405-0.79552; a pending sell order can then be set awaiting a possible retracement[/B].[/li][/ul]


[B]Quick Recap:[/B]
The daily timeframe currently shows price reacting off of supply (D/S flip area) at 0.80348-0.80576, while on the 4hr timeframe we can see price has reacted well to supply at 0.80647-0.80583, which triggered our P.A confirmation sell order at 0.80293 in the process. This selling pressure will not likely make it past 4hr demand at 0.79405.0.79552 ( where we currently have a pending buy order set at 0.79580) due to price currently being seen trading within weekly demand at 0.79596-0.80299.

[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 [B](Active-awaiting confirmation)[/B] (SL: likely to be set at 0.80648 TP: Dependent on where price ‘confirms’ the level).[/li][/ul]

234

USD/CAD:

[B]Weekly TF.[/B]
The first reaction we saw around weekly demand at 1.05609-1.07372 looked relatively bullish, however price has taken a dive south heading deeper into this demand area (levels above).


[B]Daily TF.[/B]
It appears from the daily timeframe, that pro money may want to move price deeper into weekly demand (see above) to daily demand at 1.05883-1.06779 as there is very little stopping price from doing this.


[B]4hr TF.[/B]
Chart one below shows a breakout north of the consolidating price action as explained in yesterday’s analysis. Price then was seen selling quite heavily, consuming any lower timeframe buyers attempting to play the lower limits of this consolidating price action, while nearly hitting the round number below at 1.07000.

Chart 1:

[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 the S/R flip level (1.07266) at 1.07325[B]has now been cancelled. Price dropped too far from the entry level, and the buyers were unable to consume any of the sellers around the high 1.07759 marked with an x (chart 1).[/B][/li][li][B]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 by consuming the majority of the buyers situated in and around (which was) demand at 1.08142-1.08330 (Seen on Thursday 19[SUP]th[/SUP] June daily analysis).[/li][li][B]Pending sell orders [/B](Green line) are seen within the decision point supply area (1.08251-1.08164) at 1.08226. Pending orders are valid here due this likely being the work of pro money, the momentum out of the zone is only caused by traders with big accounts, and when pro money move the market, all of their orders here were unlikely to have been filled, hence a pending order being logical here.[/li][li][B]New pending sell orders [/B](Green line) are seen around the decision point level (1.07481) at 1.07461. A pending sell order is valid here due to this being the last ‘obvious’ decision made by pro money that consumed buyers around the S/R flip level at 1.07266, unfilled sell orders may have been left here in the process.[/li][li][B]No P.A confirmation sell orders[/B] (Red line) are seen in the current market environment.[/li][/ul]

Chart two below shows a new decision point area has formed. Now, some would say one would be crazy to sell into weekly demand, right? In most cases this would be correct. However, remember above on the daily timeframe, it shows price has [B]room to move[/B] south possibly into daily demand at 1.05883-1.06779. To do this pro money requires liquidity (buy orders to sell into), and the newly-formed decision point mentioned above may well be the perfect place to help facilitate this.

Price will likely see a bullish reaction off of the round number 1.07000, then rally up to the decision point area (level above) for an overall bigger push south.

Chart 2:

[B]Quick Recap:[/B]
The weekly timeframe shows sellers pushing deeper into weekly demand at 1.05609-1.07372, while the daily timeframe shows little is stopping price from dropping further south towards daily demand at 1.05883-1.06779. Our P.A confirmation buy order on the 4hr timeframe set at 1.07325 around the S/R flip level (1.07266) did not work out. A new decision point level has formed at 1.07481 where we have a pending sell order set at 1.07461 as we believe price may retrace back to this level before continuing south to daily demand (levels above).

[ul]
[li][B]Areas to watch for buy orders:[/B] [B]P.O:[/B] There are no pending buy orders seen within the current market environment.[B] P.A.C:[/B] [B]1.07325[/B] [B](Has been cancelled)[/B] SL: likely to be set at 1.07152 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]1.08975 (SL: 1.09059 TP: 1.08330 [May change if any new developments in the market are seen]) 1.08226 (SL: 1.08357 TP: Dependent on approaching price action) 1.07461 (SL: 1.07550 TP: Dependent on how price approaches this level). [B]P.A.C:[/B]There are no P.A confirmation sell orders seen within the current market environment.[/li][/ul]

235

USD/CHF:

[B]Daily TF.[/B]
Price appears to be forming a range with the highs being seen at 0.90367 and the lows at 0.89081. A break below this range would likely see price testing the S/R flip level just below at 0.88501, conversely, a break above the range would likely see price testing supply at 0.91563-0.90844.


[B]4hr TF.[/B]
Cleary there were buyers left around the demand area at 0.88973-0.89168, as it was reported in the last analysis that [I]this demand area appears weak due to the amount of touches it has seen, so a break south is very likely at the moment.
[/I]
As one can see, this pair is being difficult, clear price action is presently not being shown other than price remaining capped between the low of the mini range above at 0.89643 acting as temporary resistance, and demand below at 0.88973-0.89168.

A break below the demand area just mentioned would see price likely testing demand below at 0.88656-0.88816, likewise a break above supply would likely force price to test supply once again at 0.90381-0.90033.

[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, we have closed most of our final position now, allowing a very small position to run, giving price room to move, and hopefully hit our final target at the daily S/R flip level (0.88501).[/B][/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 daily timeframe currently shows a range forming (0.90367/0.89081), while on the 4hr timeframe price remains capped between the low of the mini range above at 0.89643 acting as temporary resistance, and demand below at 0.88973-0.89168. It is very difficult to give a likely scenario here with the current price action offered, this is the reason we have closed 90% of our sell position now from 0.90063, so our best bet is to wait until a break of either 4hr supply or demand (levels above) happens.

[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][/ul]

236

XAU/USD (GOLD)

[B]Daily TF.[/B]
It is getting messy around daily supply at 1331.13-1318.24; there are wicks and tails in all directions, with either side yet to be seen taking charge.


[B]4hr TF.[/B]
Other than a deeper tail being seen below the S/D flip area at 1314.49-1309.37 marked with an arrow, not a lot has changed. Price still remains capped between the demand area just mentioned and supply above at 1331.13-1327.42.

A snippet from yesterday’s analysis which remains valid at the time of writing:
[I]A further rally up into supply at 1331.13-1327.42 is likely to happen as pro money may not have enough liquidity to drop price all the way to the next demand area which is currently seen below at 1284.88-1280.74. If price were to break above this supply area just mentioned, we would likely see a test of oncoming supply at 1342.46-1337.02 which could in fact help facilitate a nice fakeout of the daily supply area at 1331.13-1318.24 mentioned above, but only time will tell.
[/I]
Overall, we still favour shorts as we are in higher-timeframe supply (levels above).
[B]Pending/P.A confirmation orders:[/B]

[ul]
[li][B]Pending buy orders [/B](Green line) are seen within demand (S/D flip area… 1284.88-1280.74) at 1282.82. We have set a pending buy order here due to the fact there was a decision made here (marked by the black horizontal level, when decisions are made by pro money, they may be unfilled buy orders left there, hence the fact we have set our pending order there.[/li][li][B]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 (which was at the time of writing) supply at 1293.47-1285.52, as per the previous confirmation buy order originally set at 1266.00 [B](See Thursday 19[SUP]th[/SUP] June for details).[/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 seen just below the supply/decision point (1331.13-1327.42) at 1325.90. A pending sell order was set here because this area is deep within daily supply (1331.13-1318.24) and the momentum away from the area indicates unfilled orders may well be left 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]
Other than price nearly filling our pending sell order at 1235.90, nothing has changed and remains exactly the same as the last analysis:

[I]The daily timeframe shows sellers are currently struggling around daily supply at 1331.13-1318.24, while on the 4hr timeframe a decision needs to be made. Price will either have to consume and break supply at 1331.13-1327.42, or consume and break demand below at 1314.49-1309.37.
[/I]
[I]We however, favor the latter, because we are presently trading in and around in higher-timeframe daily supply (levels above) If this does indeed happen, our pending sell order set at 1325.90 may well be filled as pro money may perform a deeper test of supply above at 1331.13-1327.42 to help fill the liquidity requirements (buy orders to sell into) for the overall sell off.
[/I]

[ul]
[li][B]Areas to watch for buy orders:[/B] [B]P.O:[/B] 1268.91 (SL: 1264.30 TP: Dependent on approaching price action) 1282.82 (SL: 1275.12 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]1325.90 (SL: 1332.71 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][/ul]

237

EUR/USD:

[B]Weekly TF.[/B]
The weekly timeframe still shows price trading within demand at 1.34770-1.36771, a breakout above or below the base has yet to be seen though.

If a break below of the aforementioned demand area happens, price will immediately be trading within demand below at 1.32953-1.34869 which is the second layer of three stacked demand areas.

As of now price remains capped between demand at 1.34770-1.36771 and supply above at 1.42470-1.38580.

[B]Daily TF.[/B]
The daily timeframe saw very little change last week, however it is worth remembering this from Friday’s analysis last week, as it still holds true:

Price still remains capped between supply above at 1.37342-1.36890 and demand below at 1.34770-1.35557 with a break of either area yet to be seen.

[I]The small trendline placed on the chart is not there to represent a trend, it is more to show how pro money may be consuming small pockets of demand as price is rallying higher, thus clearing a path south for sellers to take over.
[/I]

[B]4hr TF.
[/B]
Chart one below shows price had spiked the round number 1.36000 below, stopping out a large number of both buyers trying to go long there, and breakout sellers attempting to sell the breakout. Price then rallied a little, retested our triangle, then advanced, missing minor resistance at 1.36666 by about 17 pips.

Chart 1:

Chart two below shows the new alterations that have been made. A trendline has been placed on the chart to represent what pro money may be doing. Notice each time a higher high was made, price dropped to consume the buyers likely clearing a path for pro sellers, so do watch out for either minor resistance (1.36666) or supply above at 1.37235-1.37005 for a bearish reaction sometime today or tomorrow.

[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 [B]has been removed. Price is trading too far from the entry level.[/B][/li][li][B]New P.A confirmation buy orders [/B](Red line) are seen just above demand (1.35036-1.35312) at 1.35433. The reason behind us placing a P.A confirmation buy order here, rather than a pending buy order is because the aforementioned demand area appears weak as deep spikes have been seen recently (marked with two arrows), and also the circled tail/spike could have cleared out the majority of buy orders as it left.[/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 higher prices may happen soon (Weekly demand: 1.34770-1.36771).[/B][/li][/ul]

Chart 2:

[B]Quick Recap:
[/B]
The price action seen on the weekly timeframe still shows buyers and sellers battling it out within demand at 1.34770-1.36771, while on the daily timeframe pro money may be seen consuming minor demand pockets whilst rallying price, thus clearing a path for any pro sellers. The 4hr timeframe resembles what the daily timeframe is depicting, only with more detail. We currently have a P.A confirmation sell order set at 1.36625 just below minor resistance (1.36666) which will likely be hit today, and if the buyers have the strength, we may even see a push up to supply at 1.37235-1.37005 where we also have a pending sell order set just below at 1.36955.

[ul]
[li][B]Areas to watch for buy orders:[/B] [B]P.O:[/B] No pending buy orders are seen in the current market environment. [B]P.A.C: [/B]1.35433 (SL: Dependent on where price ‘confirms’ the level TP: Dependent on where price ‘confirms’ the level).[/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]

238

GBP/USD:

[B]Weekly TF.[/B]
Price still remains trading at the base of weekly supply (1.76290-1.70490) with little action being seen from the sellers on this timeframe. The most recently closed weekly candle was unable to break the previous week’s high or low (1.70630/1.69198) forming what the majority of traders call an inside bar/candle. Taking all of the above into consideration, traders should be prepared for a possible push higher into the weekly supply area (levels above) sometime this week.

Additionally, price is currently seen capped between weekly supply (levels above) and the top of the long-term consolidation area at 1.67980.

[B]Daily timeframe:[/B]
At the beginning of last week, this timeframe looked picture-perfect with three tails being seen above daily supply indicating a fakeout may have happened, as we were trading into weekly supply (levels above).
The sellers seemed to have run out of steam here, active buyers were seen pushing price back up to the alleged fakeout point indicating this could this be a second test, or that price intends to break this area north. Hopefully this week we shall have our answer.

[B]4hr TF.[/B]
Chart one below shows the decision point area (supply) at 1.70320-1.70233 did see a small bearish reaction down to the round number 1.70000, but most traders were more than likely stopped out on the big red wick marked with an arrow.

Chart 1:

Chart two below shows the alterations that have been made. The price action is not presenting many selling opportunities, which is frustrating considering we’re currently trading around weekly supply (levels above). At the moment, price appears to be stuck between the high at 1.70630 and the low at 1.69522 (marked with a range box). A break above the high would see price trading deeper into weekly supply (levels above) which is the most likely scenario (as per the higher timeframe analysis above), conversely a break below the low would no doubt open more selling opportunities to us to short down to the round number 1.69000 at least.

[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]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:

[B]Quick Recap:[/B]
The weekly timeframe sellers are currently showing weakness around weekly supply at 1.76290-1.70490, while the daily timeframe supports this weakness as active buyers were seen coming into the market mid last week. The 4hr timeframe is currently very difficult to trade, price needs to make a decision to either break above the high seen at 1.70630 or break below the low at 1.69522. We favor the former, as price on the higher timeframes are indicating selling weakness, thus a push higher may be seen sometime this week.

[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).[/li][li][B]Areas to watch for sell orders[/B]: [B]P.O: [/B]No pending sell orders seen in the current market environment. P.A.C: No P.A confirmation sell orders seen in the current market environment.[/li][/ul]

239

AUD/USD:

[B]Weekly TF.[/B]
Price action is still seen consolidating around the S/R flip level at 0.93718, with no positive break in either direction being seen. If price breaks above this current consolidation, supply at 0.97576-0.95821 would very likely be hit, conversely, if price were to break lower, the demand/fo zone would likely be hit below at 0.86601-0.88258.

The recently closed weekly candle represented buying strength. A close above 13 previous weekly candles (within the consolidation) was seen, indicating we may very well see higher prices sometime this week.


[B]Daily TF.[/B]
The daily timeframe supports the weekly timeframe in that daily supply seen at 0.94468-0.93758 is showing weakness. This weakness supports our prior theory regarding the circled wick to the left of the chart; we said that this wick may have consumed the majority of the sellers lurking in and around the aforementioned supply area.
Taking all the above into consideration, a push higher will very likely be seen sometime this week to at least fresh daily supply above at 0.95434-0.94862, so do keep a close eye on that!

As of now though, price still remains capped between supply at 0.94468-0.93758, and demand below at 0.92054-0.92633 with a break either side yet to be seen.

[B]4hr TF.[/B]
Chart one below shows price saw a very small reaction off of our decision point (supply) area at 0.94270, but shortly after price pushed higher, stopping out most of the sellers attempting to short this area.

Chart 1:

Chart two below shows the new alterations that have been made. The demand area seen at 0.93542-0.93670 may well be the area pro money use to push prices higher this week. This would no doubt confuse a lot of traders expecting price to just shoot to the moon straight away without pro money collecting the much-needed liquidity for a move higher. However, the round number 0.94000 just below may be an area to watch out for, as it is very likely pro money will perform a deep stop hunt here first, testing how many buyers are active around this level, so do be on the lookout for this also.

If price does indeed breakout higher, keep an eye on the 4hr supply area above at 0.95434-0.95057 (not seen on the chart), which is located deep within daily supply at 0.95434-0.94862.

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

[ul]
[li][B]New pending buy orders [/B](Green line) are seen just above demand (0.93542-0.93670) at 0.93689. A pending order was permitted to be set here due this demand area showing buying strength clearly created by pro money, meaning unfilled buy orders may still be lurking there.[/li][li][B]New P.A confirmation buy orders [/B](Red line) are seen just above demand (0.93186-0.93345) at 0.93361. The reason a P.A confirmation buy order was placed here rather than a pending buy order, was simply because previous price action shows the buyers in and around the demand area (levels above) may have been consumed with those deep spikes/tails marked with arrows.[/li][li][B]P.A confirmation buy orders[/B] (Red line) are seen at 0.92231 just above demand at 0.92037-0.92203[B] have been removed. Price has rallied too far from the entry point.[/B][/li][li][B]P.A confirmation buy orders[/B] (Red line) are visible just above the round number 0.93000 at 0.93025 [B]have been removed. Price has rallied too far from the entry point.[/B][/li][li][B]The pending sell order[/B] (Green line) set at [B]0.94447[/B] around the high 0.94613 [B]has now been closed with a nice profit.[/B][/li][li][B]The pending sell order [/B](Green line) set just below the decision point supply area (0.94270) at 0.94251 [B]has been stopped out.[/B][/li][li][B]No P.A confirmation sell orders [/B](Red line) are seen in the current market environment.[/li][/ul]

Chart 2:

[B]Quick Recap:[/B]
Buying strength is being currently seen on the weekly timeframe, while the daily timeframe currently supports this assumption since the buyers are appearing to be too strong for the sellers within the daily supply area at 0.94468-0.93758. The 4hr timeframe indicates a small retracement may need to happen to at least the round number below at 0.94000 before any advance higher is seen today or later this week.

[ul]
[li][B]Areas to watch for buy orders:[/B] [B]P.O:[/B] 0.93689 (SL: 0.93510 TP: Dependent on approaching price action). [B]P.A.C:[/B] 0.93361 (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][/ul]

240

USD/JPY:

[B]Weekly TF.[/B]
The sellers really took control last week driving price back down to the weekly S/R flip level at 101.254 with buyers showing little to no interest all week.

If price breaks this lower S/R flip level (levels above), we may likely see price push down towards weekly demand at 96.564-98.574, conversely, If we see a bullish reaction at the S/R flip level just mentioned, we can possibly expect higher prices in the coming weeks.


[B]Daily TF.[/B]
Not much has changed since the last weekly analysis on Monday. Price still remains capped between daily demand at 101.532-100.787 and daily supply (minor resistance) above at 102.645. A break below the aforementioned daily demand area will likely force price to test daily demand below at 99.571-100.255 coupled with the round number 100.000 within, conversely a break above daily supply (levels above) could very likely see price testing oncoming supply at 104.114-103.812.


[B]4hr TF.[/B]
Chart one below shows that 4hr demand at 101.427-101.660 did not hold as reported it may do in Friday’s analysis. A break of this demand area just mentioned will now likely push price lower to around the round number 101.000 area sometime this week.

Chart 1:

Chart two below shows the alterations that needed to be made. From price breaking demand 101.427-101.660, a new D/S flip area has formed at 101.427-101.546. Price now remains capped between supply (D/S flip area) at 101.427-101.546 and demand below (round number) at 101.000. With price currently hitting higher-timeframe demand (Weekly: 101.254 Daily: 101.532-100.787), higher prices are more than likely going to be seen sometime this week. However, considering we have just seen a break of demand (101.427-101.660 [chart one]) we may see lower prices to the round number below at 101.000 before any rally in price happens.

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

[ul]
[li][B]The pending buy order [/B](Green line) set deep within demand (101.427-101.660) at 101.542 [B]has been stopped out for a breakeven trade (see chart one).[/B][/li][li][B]New P.A confirmation buy orders[/B] (red line) are seen just above the round number (101.000) at 101.027. The reason a P.A confirmation buy order was used here is because pro money on a regular basis perform deep spikes through these levels stopping countless traders out, hence the need to wait for confirmation.[/li][li][B]The pending sell order[/B] (Green line) visible at 102.980, deep within supply (103.055-102.742) [B]has been removed due to price moving too far from the entry level (see chart one).[/B][/li][li][B]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 break the low 102.113 and take prices lower into what was demand (101.427-101.660) at the time [B](seen on chart one)[/B] meaning unfilled sell orders were likely left there in the process.[/li][li][B]Pending sell orders [/B](Green line) are seen at a decision point (102.103) at 102.084. Pending sell orders are viable here due to this being an important decision point level where pro money decided to break multiple lows and visit what was demand (101.427-101.660) at the time [B](seen on chart one)[/B], thus giving the impression unfilled sell orders may be left there as price did change direction very quickly.[/li][li][B]New pending sell orders [/B](Green line) are seen just below the decision point (101.709) at 101.691. A pending order was permitted to be placed here since pro money clearly made a decision to consume the majority of the buyers around what was demand at 101.427-101.660 at the time [B](seen above on chart one)[/B], meaning there were more than likely unfilled sell orders left behind in the process.[/li][li][B]No P.A confirmation sell orders[/B] (Red line) are seen in the current market environment.[/li][/ul]

Chart 2:

[B]Quick Recap:[/B]
The weekly timeframe is currently seen trading around weekly support at 101.254, while the daily timeframe is presently showing price trading within daily demand at 101.532-100.787. The 4hr timeframe shows price had consumed demand at 101.427.101.660 on Friday, clearing the path for sellers down to at least the round number below at 101.000. Considering price is in higher-timeframe demand, we will likely see higher prices sometime this week, however do be prepared for the sellers to push price south towards the round number area (101.000) before an advance is seen.

[ul]
[li][B]Areas to watch for buy orders:[/B] [B]P.O: [/B]No pending buy orders are seen in the current market environment. [B]P.A.C:[/B] 101.027 (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] 102.367 (SL: 102.458 TP: Dependent on how price action approaches this area) 102.084 (SL: 102.184 TP: Dependent on how price approaches this area) 101.691 (SL: 101.759 TP: Dependent on how price approaches this area [B]P.A.C:[/B] No P.A confirmation sell orders are seen in the current market environment.[/li][/ul]