Daily Market Analysis by IC Markets

Commercial Content Analysts
81

[B]Weekly TF.
[/B]
Price has completely consumed the resistance level at [B]1.11230[/B], which as per this timeframe is the last obstacle (potential sellers) up to major supply at [B]1.17230 – 1.15410[/B].

However, as we can see, there were a lot of higher-timeframe sellers at resistance ([B]level above[/B]), and price is possibly retracing to the most logical demand area below at [B]1.05883 – 1.07274[/B], due to this selling pressure.

Price is capped between supply at [B]1.17230 – 1.15410[/B] and demand at [B]1.05883 – 1.07274[/B].


[B]
Daily TF.
[/B]
As per this timeframe, price is trading between minor support at [B]108142[/B], and the lower of the two stacked supply areas at [B]1.10039 – 1.09356[/B]. Price will likely break/consume the minor support area just mentioned sometime this week, then likely sell hard towards demand at [B]1.05883 – 1.06779[/B], which is located deep within weekly demand at [B]1.05883 – 1.07274[/B] (shown on the weekly chart above).


[B]
4hr TF.
[/B]
A closer inspection on the 4hr timeframe shows price is caught trading between supply at [B]1.09089 – 1.08844[/B], incorporating the round number [B]1.09000 [/B]within, and two stacked demand areas below at[B]1.08142 – 1.08330/1.07903 – 1.08286[/B]. No break of either area has yet to be seen.

Today, price will likely remain trading between the two areas mentioned above, but a break of the demand area may happen early this week, so no buy orders are to set as it is not worth the risk.

Sell orders are set at [B]1.08844[/B] with stops above at [B]1.09112[/B], targeting the base of the weekly demand area at [B]1.07274[/B] (seen on chart 2 below) as there’s very little stopping price from dropping once the 4hr demand areas are consumed ([B]levels above[/B]).

Here is price to the left; the circled area resembles the top of the weekly base demand area for reference purposes.


[B]
Orders:
[/B]
Buy(s) at: [B]N/A[/B]
[ul]
[li]Stop(s) at: [B]N/A[/B][/li][li]Target(s) at: [B]N/A[/B][/li][/ul]
Sell(s) at: [B]1.08844[/B]
[ul]
[li]Stop(s) at: [B]1.09112[/B][/li][li]Target(s) at [B]1.07274[/B][/li][/ul]

82

[B]Weekly TF.
[/B]
Stacked demand is seen at [B]0.82750 – 0.85500[/B] and [B]0.85670 – 0.88360[/B], whilst stacked supply is also seen above at [B]1.00540 – 0.99190[/B] and [B]0.99710 – 0.97460.
[/B]
Price has been relatively bullish on this timeframe over the past few weeks, reacting off of the higher of the two stacked demand areas at [B]0.85670 – 0.88360[/B].

Let’s see what information the lower timeframes has.


[B]
Daily TF.
[/B]
A bearish reaction has been seen at supply ([B]0.90381 – 0.89392[/B]), a retracement to the S/R flip level at [B]0.88501[/B] is possible, if the sellers have the strength.

A break above this supply area ([B]levels above[/B]) could force price to test supply at [B]0.91563 – 0.90844[/B]because of the circled wicks likely resembling supply consumption, thus clearing the path for buyers.

Taking all of this into consideration, we still have to remember we have just reacted off of higher-timeframe weekly demand at [B]0.85670 – 0.88360[/B] (shown on the weekly chart), so do not go selling just yet!


[B]
4hr TF.
[/B]
The demand area at [B]0.89375 – 0.89459[/B] has been consumed with the majority of the buyers getting stopped out. From here, price may rally to supply above at [B]0.90381 – 0.90033[/B] (chart 2 shows how good this levels looks, marked with an arrow) with the big figure [B]0.90000[/B] just below, to push prices south into 4hr demand at [B]0.88973 – 0.89168[/B].

Sell orders are set at the round number [B]0.90000[/B] with stops placed just above supply at [B]0.90398[/B], targeting the demand are base below at [B]0.89168[/B].

Buy orders are set at [B]0.89168[/B] with stops being set just below the demand area at [B]0.88942[/B], targeting the round number [B]0.90000[/B]. The reason for this is simply because price may not reach the supply area ([B]levels above[/B]) above and decide to drop to demand before rallying, thus allowing flexibility.

[B]Chart 1:
[/B]

[B]
Chart 2:
[/B]

[B]
Orders:
[/B]
Buy(s) at: [B]0.89168[/B]
[ul]
[li]Stop(s) at: [B]0.88942[/B][/li][li]Target(s) at: [B]0.90000[/B][/li][/ul]
Sell(s) at: [B]0.90000[/B]
[ul]
[li]Stop(s) at: [B]0.90398[/B][/li][li]Target(s) at [B]0.89168[/B][/li][/ul]

83

[B]Weekly TF.
[/B]
Gold is currently trading within a range, supply being seen at [B]1495.00 – 1419.68[/B], and demand at[B]1156.85 – 1194.53[/B]. Gold has been trading within this range since 2012 with a break of either area yet to be seen.
Let’s look at the lower timeframes to see if there are any opportunities on the horizon.


[B]
Daily TF.
[/B]
Price is now trading in and around demand at [B]1238.51 – 1254.97[/B] consuming buy orders as it trades deeper south. If we see a bullish reaction here, price may rally to the S/R flip level above at [B]1277.36[/B], or at a push, the supply area above at [B]1392.05 – 1361.79[/B].

If a break of this demand area happens, price will likely drop relatively hard to the support level below at[B]1182.01[/B] as price action to the left is very messy, with no logical demand available on this timeframe.


[B]
4hr TF.
[/B]
Near-term supply is seen at [B]1268.03 – 1260.87[/B] and near-term demand being seen below at [B]1231.56 – 1237.57[/B] just below daily demand at [B]1238.51 – 1254.97[/B](as shown on the daily chart above).

Sell orders are seen at [B]1260.87[/B] with stops being set above supply at [B]1268.99[/B], targeting the demand base at [B]1237.57[/B]. This order may not get triggered due to their being no logical demand to the far left (as shown on chart 2 below) to push prices north. Look at the price action depicted with a trendline on chart 2, the majority of the buyers have been consumed, leaving price a clear path down to demand at [B]1231.56 – 1237.57[/B].

Buy orders are seen at [B]1237.57[/B] with stops being set below at [B]1230.48[/B], targeting the supply base at[B]1260.87[/B].

[B]Chart 1:
[/B]

[B]
Chart 2:
[/B]

[B]
Orders:
[/B]
Buy(s) at: [B]1237.57[/B]

[ul]
[li]Stop(s) at: [B]1230.48[/B][/li][li]Target(s) at: [B]1260.87[/B][/li][/ul]
Sell(s) at: [B]1260.87[/B]

[ul]
[li]Stop(s) at: [B]1268.99[/B][/li][li]Target(s) at [B]1237.57[/B][/li][/ul]

84

[B]EUR/USD:
4hr TF.[/B]
This Pair is still confined within where price is currently capped ([B]Supply: 1.36687 – 1.36542, Demand: 1.35623-1.35984[/B]), and no attempt has been made to break either area yet.

Monday’s analysis reported sell orders ([B]1.35642[/B]) were seen at the small supply area mentioned above, unfortunately, they have remained unfilled at the time of writing. The buy orders set below at 1.35984 have been triggered with little to no drawdown; the stop loss is still in position at 1.35583, with the target remaining the same at 1.36432.

If a break is seen above the supply area at [B]1.36687 – 1.36542[/B], this could force price to test supply at [B]1.37235 – 1.37005[/B] allowing sell orders to be placed above the round number at 1.37005, with stops above supply at 1.37289, the take profit will be decided nearer the time, as price may not give an adequate risk to reward on the trade.


[ul]
[li]Areas to watch for buy orders: (Same as Monday’s analysis) [B]1.35984[/B] (SL: 1.35583 TP: 1.36432).
[/li][li]Areas to watch for sell orders: [B]1.36542[/B] (SL: 1.36741 TP: 1.36000). Impending orders: [B]1.37005[/B] (SL: 1.37289 TP: Dependent on future price approach).
[/li][li]Most likely scenario: Price will likely rally towards the S/D flip area at [B]1.36513 – 1.36432[/B] hitting the take profit at 1.36432, staying within the capped area ([B]Supply: 1.36687 – 1.36542, Demand: 1.35623-1.35984[/B]). Once a break of either area occurs, we’ll have more of an idea on possible future direction.
[/li][/ul]

85

[B]GBP/USD:
4hr TF[/B]

Technically, not a lot has changed on this pair, price is still capped between the round number 1.67000 and supply above at [B]1.68158 – 1.67828[/B], with a breach of either area yet to be seen.

The buy/sell orders remain the same as Monday’s analysis:

Buy orders are seen below the round number (levels above) at 1.66906 with stops being set at 1.66534 which is just below the daily S/R flip level (marked with a black circle), targeting 1.67828 at the base of supply ([B]1.68158 – 1.67828[/B]).

Sell orders are seen at 1.67828, with stops being set above the supply area (levels above) at 1.68216, targeting the round number below at 1.67000.

However, if a break is seen above the capped supply area at[B] 1.68158 – 1.67828[/B], this could force price to test the supply area at [B]1.68822 – 1.68708.[/B] Sell orders could then be set at 1.68708 with stops above supply ([B]1.68822 – 1.69708[/B]) at 1.68860, the target would have to be decided nearer the time as price may not give adequate room for profit on approach, meaning the trade would be invalid.

A break below could see price testing the daily S/R flip level at 1.66631, look for buy orders to be set just above this level at 1.66680 with stops below at 1.66470, again, like above, the take profit areas are very difficult to set without near-term approaching price action.


[ul]
[li]Areas to watch for buy orders: [B]1.66906[/B] (SL: 1.66534 TP: 1.67828). Impending orders: 1.68708 (SL: 1.68860 TP: Dependent on future price approach).
[/li][li]
[/li][li]Areas to watch for sell orders: [B]1.67828[/B] (SL: 1.68216 TP: 1.67000). Impending orders: 1.66680 (SL: 1.66470 TP: Will be decided on future price approach).
[/li][li]
[/li][li]Most likely scenario: Price is capped between supply at [B]1.68158 – 1.67828[/B] and demand at the round number 1.67000. This area is over 100 pips wide, therefore, price will likely stay trading within this area today, testing either area mentioned above.
[/li][/ul]
[ul]
[/ul]

86

[B]AUD/USD:
4hr TF.[/B]

The AUD was on fire yesterday, sellers were well and truly in control! No buy order was set in or around the S/D flip area at [B]0.92576 – 0.92774[/B], as there was little room for a profit target judging by the current price action at the time of writing.


The sell orders set yesterday at 0.93575 have been cancelled. New sell orders have been set at 0.93186 (D/S flip area: [B]0.93345 – 0.93186[/B]), with the stops being set above at 0.93381, targeting the round number 0.93000 as a first target area, the second area will depend on the approach price action takes.

As reported in Monday’s analysis, buy orders are set at 0.92203 (demand [[B]0.92037 – 0.92203[/B]]) with stops set below the round number 0.92000 at 0.91942, targets have been changed to 1. 0.93000, 2. 0.93186 due to a zone being deemed target area selected before being deemed invalid now.


[ul]
[li][B]Areas to watch for buy orders:[/B] 0.92203 (SL: 0.91942 TP: [1] 0.93000 [2] 0.93186).
[/li][li][B]Areas to watch for sell orders: [/B]0.93186 (SL: 0.93381 TP: [1] 0.93000 [2] Dependent on the way price action approaches this area).
[/li][li][B]Most likely scenario: [/B]Price will likely spike south to demand at 0.92037 – 0.92203 triggering the buy orders seen at 0.92203. Remain extra cautious here, protecting your position as we are trading near weekly timeframe resistance at 0.93718, so be on your guard, and think about closing at the first sign of trouble
[/li][/ul]
.

87

[B]USD/JPY:
4hr TF.[/B]

It was reported in Monday’s analysis that the ideal situation would be to see price break/consume supply at [B]101.886 – 101.778[/B], then go on to consume the next supply area above at [B]102.365 – 102.128[/B], but also remaining aware at the same time, that there will be likely active sellers within this area to overcome first.

Price did consume supply at [B]101.886 – 101.778 [/B]yesterday and is currently seeing a bearish reaction at supply ([B]102.365 – 102.128[/B]) just above.

The sell orders set yesterday at 102.128 have been executed, we have two obstacles to overcome (round number 102.000/S/D flip area at [B]101.886 – 101.778[/B]) before target 1 is hit at 101.472. It may be a good idea to take partial profit at the trouble areas just mentioned, this however, would be up to the individual trader though…


[ul]
[li][B]Areas to watch for buy orders:[/B] (Same as Monday) 101.472 (SL: 101.324 TP: [1] 102.000 [2] 102.128).
[/li][li][B]Areas to watch for sell orders:[/B] (Active) 102.128 (SL: 102.387 TP: [1] 101.472 [2] 100.927).
[/li][li][B]Most likely scenario:[/B] Price will likely trade between supply at 102.365 – 102.128 and the S/D flip area at 101.886 – 101.788. More information will be available to us once a break of either area just mentioned is seen.
[/li][/ul]

88

[B]EUR/GBP:
4hr TF.[/B]

The buyers and sellers are currently battling it out between supply at[B] 0.81580 – 0.81512[/B] and demand at [B]0.81053 – 0.81171. [/B]

The sell orders set yesterday (0.81512, SL: 0.81605 TP: 0.81171) remain unchanged, whilst the buy orders at demand ([B]0.81053 – 0.81171[/B]) at 0.81171 have been executed, currently targeting the supply area (0.81580 – 0.81512) at 0.81512.

A break above this supply would possibly see the buyers rally price up to the highest of the 3 stacked supply areas at [B]0.81823 – 0.81766[/B], as price usually tests the extreme zones when areas are stacked similar to this. Impending sell orders will be set at 0.81766, with stops being set above at 0.81845 and a target that is dependent on approaching price action nearer the time.


[ul]
[li][B]Areas to watch for buy orders:[/B] (Active) 0.81171 (SL: 0.80985 TP: 0.81512).
[/li][li][B]Areas to watch for sell orders:[/B] 0.81512 (SL: 0.81605 TP: 0.81171). Impending orders: 0.81766 (SL: 0.81845 TP: Will be decided depending on approaching price action).
[/li][li][B]Most likely scenario: [/B]Price will likely trade between supply at [B]0.81580 – 0.81512[/B] and demand at [B]0.81053 – 0.81171[/B], it is unlikely a break will be seen today, however do remember, anything can happen in the markets!
[/li][/ul]

89

[B]USD/CAD:
4hr TF.[/B]

Price still remains capped between supply at [B]1.90089 – 1.08844 [/B]and stacked demand below at [B]1.07903 – 1.08286/1.08142 – 1.08330.[/B]

The sell order set yesterday at 1.08844 is now active, aiming to take profit around the weekly demand area below at 1.07274; unfortunately we are seeing a rather unpleasant drawdown at the time of writing.

Buy orders may be set at the demand area below ([B]1.08142 – 1.08330[/B]) at 1.08330, with the stop being set below demand at 1.08114, and the target being dependent on approaching price action.


[ul]
[li][B]Areas to watch for buy orders:[/B] Impending orders: 1.08330 (SL: 1.08114 TP: Dependent on approaching price action).
[/li][li][B]Areas to watch for sell orders:[/B] (Active) 1.08330 (SL: 0.09112 TP: 1.07274).
[/li][li][B]Most likely scenario:[/B] Price will likely see a bearish reaction here back into the range ([B]Supply: 1.09089 – 1.08844, Demand: 1.08142 – 1.08330[/B]), but how long this takes to happen is anyone’s guess, only time will tell.
[/li][/ul]

90

[B]USD/CHF:
4hr TF.[/B]

Not a lot has changed from the last analysis yesterday, concerning this pair.
Here is a quick reminder:

The daily timeframe shows we are in supply at [B]0.90381 – 0.89392.[/B] The 4hr timeframe shows demand at 0.89375 – 0.89459 has been consumed with a tail, stopping the majority of buyers out along the way. From here, price may rally to supply above at [B]0.90381 – 0.90033[/B] with the big figure 0.90000 just below, to push prices south into 4hr demand at [B]0.88973 – 0.89168[/B].

Much the same as Monday’s analysis:

[ul]
[li]Sell orders are set at the round number 0.90000 with stops placed just above supply at 0.90398, targeting the demand are base below at 0.89168.
[/li][li]Buy orders are set at 0.89168 with stops being set just below the demand area at 0.88942, targeting the round number 0.90000. The reason for this is simply because price may not reach the supply area (levels above) above and decide to drop to demand before rallying, thus allowing flexibility.
[/li][li]
[/li][/ul]


[ul]
[li][B]Areas to watch for buy orders:[/B] 0.89168 (SL: 0.88942 TP: (Overall) 0.90000, but subject to change depending on price action).
[/li][li][B]Areas to watch for sell orders:[/B] 0.90000 (SL: 0.90398 TP: 0.89168).
[/li][li][B]Most likely scenario:[/B] Price will likely rally into supply above at [B]0.90381 – 0.90033[/B] triggering sell orders at the round number 0.90000 for a possible bearish reaction.
[/li][/ul]

91

[B]XAU/USD (GOLD)
4hr TF.[/B]

Gold was very quiet yesterday, with little movement seen.

Much the same as yesterday’s analysis:

Near-term supply is seen at [B]1268.03 – 1260.87[/B] with near-term demand being seen below at [B]1231.56 – 1237.57 [/B]which is just beneath daily demand at [B]1238.51 – 1254.97.[/B]

Sell orders are seen at 1260.87 with stops being set above supply at 1268.99, targeting the demand base ([B]1231.56 – 1237-57[/B]) at 1237.57. This sell order may not get triggered due to their being no logical demand to the far left to push prices north as explained in yesterday’s analysis in a little more detail.

Buy orders are seen at 1237.57 with stops being set below at 1230.48, targeting the supply base ([B]1260.03 – 1260.87[/B]) at 1260.87.


[ul]
[li][B]Areas to watch for buy orders:[/B] 1237.57 (SL: 1230.48 TP: 1260.87).
[/li][li][B]Areas to watch for sell orders: [/B]1260.87 (SL: 1268.99 TP: 1237.57).
[/li][li][B]Most likely scenario:[/B] Price will likely drop to the demand area below at 1231.56 – 1237.57, triggering buy orders at 1237.57 for a rally in price to be seen, as don’t forget, we’re currently trading within daily demand at 1238.51 – 1254.97.
[/li][/ul]

92

[B]EUR/USD:[/B]

[B]4hr TF.
[/B]
Technically, price has not changed since yesterday’s analysis. The areas (Demand: [B]1.36523 – 1.35984[/B]Supply: [B]1.36087 – 1.36542[/B]) where price are currently capped may have formed in anticipation of the G7 meetings beginning today, as always, remain on guard, and expect the unexpected!

The weekly timeframe shows price is in weekly demand at [B]1.34770 – 1.36771[/B], whilst the daily timeframe shows price reacting to a S/R flip level resistance at [B]1.36432[/B], with the 4hr timeframe currently trading in demand at [B]1.35623 – 1.35984[/B], so higher prices are likely for now.

Buy orders are still seen around the [B]1.35984[/B] level from within 4hr demand at [B]1.35623 – 1.35984[/B], with the expectation of a rally to supply above at [B]1.36687 – 1.36542[/B], where price remains capped. A break below the demand area just mentioned is unlikely due to the higher timeframes currently emphasizing bullish price action.

Sellers are likely still active within and around the supply area at [B]1.36687 – 1.36542[/B], therefore, a reaction may happen if price rallies this far. Sell orders remain the same as yesterday’s analysis, being seen at[B]1.36542[/B]. If a break is seen above the supply area at [B]1.36687 – 1.36542[/B], this could force price to test supply at [B]1.37235 –1.37005[/B] allowing sell orders to be placed above the round number at [B]1.37005[/B].

[ul]
[li][B]Areas to watch for buy orders:[/B] 1.35984 (SL: 1.35583 TP: 1.36432).[/li][li][B]Areas to watch for sell orders[/B]: 1.36542 (SL: 1.36741 TP: 1.36000). Impending orders: 1.37005 (SL: 1.37289 TP: Dependent on future price approach).[/li][li][B]Most likely scenario: [/B]Price will likely see some bullish action today from demand at [B]1.35623 – 1.35984[/B] up to the supply area at [B]1.36687 – 1.36542[/B]. A reaction may be seen at this supply, do not expect it to be magnificent though, as price will likely consume this supply area. However, a spike south is not out of the question before any of the above happens either.[/li][/ul]

93

GBP/USD:

[B]4hr TF.
[/B]
Similar to the Euro, not much has changed. Price still remains capped between the round number below at [B]1.67000[/B] and supply above at [B]1.68158 – 1.67828[/B].

As a reminder, the weekly timeframe is presently showing weakness, price has reacted near a supply area at [B]1.76290 – 1.70490[/B], closing back into the long-term consolidation area at [B]1.67980 – 1.42273[/B]. The daily timeframe candles are also showing weakness around where the low [B]1.67353[/B] was consumed.

Much the same as yesterday’s analysis:

[ul]
[li]Buy orders are seen below the round number at [B]1.66906[/B], this would be a likely area more stop-loss orders are located. A break below could see price testing the daily S/R flip level at [B]1.66631[/B], so look for buy orders to be set just above this level at [B]1.66680[/B].[/li][li]The sell order ([B]1.67828[/B]) at supply ([B]1.68158 – 1.67828[/B]) did not get filled, it missed it by about 1 pip!! This sell order remains the same with no alterations because of the way price approached the supply area ([B]levels above[/B]). Price appears to be consuming buyers as it rallies giving us a hint, price may very likely drop in value. If a break is seen above the capped supply area at [B]1.68158 – 1.67828[/B], this could force price to test the supply area at [B]1.68822 – 1.68708[/B]. Sell orders could then be set at [B]1.68708[/B].[/li][/ul]

[ul]
[li][B]Areas to watch for buy orders:[/B] 1.66906 (SL: 1.66534 TP: 1.67828). Impending orders: 1.68708 (SL: 1.68860 TP: Dependent on future price approach).[/li][li][B]Areas to watch for sell orders[/B]: 1.67828 (SL: 1.68216 TP: 1.67000). Impending orders: 1.66680 (SL: 1.66470 TP: Will be decided on future price approach)[/li][li][B]Most likely scenario: [/B]A drop in price is likely, but not before we see a spike north to supply at[B]1.68158 – 1.67828[/B], up to as far as the round number [B]1.68000[/B] to collect the much-needed liquidity.[/li][/ul]

94

AUD/USD:

[B]4hr TF.
[/B]
The buyers on the 4hr timeframe had taken back control yesterday with price still currently trading in between the D/S flip area above at [B]0.93345 – 0.93186[/B] and demand below at [B]0.92037 – 0.92203[/B] with a breach of either area yet to be seen.

The weekly timeframe shows price trading around resistance at [B]0.93718[/B], with the daily timeframe currently trading in what appears to be weak demand seen at [B]0.92054 – 0.92633[/B], so, we have a battle between weekly resistance and daily demand, this should be very interesting!

Due to the size of the area where price is capped ([B]levels above[/B]), the buy and sell orders remain unchanged.

Buy orders are still seen at [B]0.92203[/B] at the demand area below ([B]0.92037 – 0.92203[/B]), with sell orders at[B]0.93186[/B] at the supply area above ([B]0.93345 – 0.93186[/B]). The reason for not including the round number[B]0.93000[/B] as a sell order is simply because pro money will likely fake this level up to supply collecting the buy stops from the sellers and buy orders from the breakout traders to sell in to.

[ul]
[li][B]Areas to watch for buy orders:[/B] 0.92203 (SL: 0.91942 TP: [1] 0.93000 [2] 0.93186).[/li][li][B]Areas to watch for sell orders[/B]: 0.93186 (SL: 0.93381 TP: [1] 0.93000 [2] Dependent on the way price action approaches this area).[/li][li][B]Most likely scenario: [/B]Due to higher-timeframe influence, selling seems to be in order at the moment. Pro money will likely spike north above the round number [B]0.93000[/B] triggering sell orders at the D/S flip area at [B]0.93345 – 0.93186[/B], for an overall bigger push down though demand at[B]0.92037 – 0.92203[/B].[/li][/ul]

95

USD/JPY:

[B]4hr TF.
[/B]
The supply area at [B]102.365 – 102.128[/B] has been consumed stopping out the majority of the sellers, and triggering some breakout buy orders opening up a great-looking price void above all the way up until the next supply area at [B]103.055 – 102.742[/B]. As reported in Monday’s weekly analysis, higher prices are expected due to price trading off of the weekly support at [B]101.254[/B] and the daily timeframe showing price reacting from demand at [B]100.777 – 101.676[/B].

The buy orders reported yesterday at [B]101.472[/B] at the base of demand ([B]101.356 – 101.472[/B]) remain the same, however, new buy orders are seen above newly formed demand ([B]101.936 – 102.089[/B]) at [B]102.111[/B], and also above the round number [B]102.000 [/B]at [B]102.023[/B] incorporated within the demand area just mentioned, as this area appears to be an important decision point i.e. where the decision was made to consume supply at [B]102.365 – 102.128[/B]).

[ul]
[li][B]Areas to watch for buy orders:[/B] 101.472 (SL: 101.324 TP: [1] 102.000 [2] 102.128) 102.111 (SL: 101.899 TP: [At the time of writing] 102.699) 102.023 (SL: 101.899 TP: [At the time of writing] 102.699).[/li][li][B]Areas to watch for sell orders[/B]: 102.699 (SL: 103.088 TP: [At the time of writing] [1] 102.111 [2] 101.511).[/li][li][B]Most likely scenario: [/B]Price will likely see a drop in value towards demand at [B]101.936 – 102.089[/B]with a reaction expected to be seen, which may rally price up to supply at [B]103.055 – 102.742[/B].[/li][/ul]

96

EUR/GBP:

[B]4hr TF.
[/B]
The buyers are clearly winning the battle at the moment between demand at [B]0.81053 – 0.81171[/B] and the lower of the 3 stacked supply areas at [B]0.81580 – 0.81512[/B].

The weekly timeframe shows price is in demand at [B]0.80848 – 0.81668[/B], whilst the daily timeframe is
showing price is trading at the base of a supply area ([B]0.81819 – 0.81430[/B]) giving conflicting signals.

The buy order [B]0.81171[/B] is in good profit and may be a good time to think about closing part of the position and moving the stop loss to breakeven, as price came very near to the take profit target already.

The sell order ([B]0.81512[/B]) remains unchanged at supply ([B]0.81580 – 0.81512[/B]) with price coming very near to filling the order yesterday. A break above this supply would possibly see a rally up to the highest of the 3 stacked supply areas at [B]0.81823 – 0.81766[/B], as price usually tests the extreme zones when areas are stacked similar to this. Impending sell orders will be set just below the supply area just mentioned at [B]0.81746[/B].

[ul]
[li][B]Areas to watch for buy orders:[/B] (Active) 0.81171 (SL: 0.80985 TP: 0.81512).[/li][li][B]Areas to watch for sell orders[/B]: 0.81512 (SL: 0.81605 TP: 0.81171). Impending orders: 0.81746 (SL: 0.81845 TP: Will be decided depending on approaching price action)[/li][li][B]Most likely scenario: [/B]Higher-timeframe influence is currently highlighting long trades. Price will possibly visit the supply area at [B]0.81580 – 0.81512[/B] with a reaction likely being seen before consuming this area, possibly testing the highest of the 3 stacked supply areas at [B]0.81823 – 0.81766[/B][/li][/ul]

97

USD/CAD:

[B]4hr TF.
[/B]
Yesterday’s analysis reported price would likely see a bearish reaction back into the range ([B]Supply: 1.09089 – 1.08844, Demand: 1.08142 – 1.08330[/B]). This did not happen; instead, it was completely the opposite with a break north of the supply area just mentioned, along with the big figure number [B]1.09000[/B].

A new demand area has formed at [B]1.08907 – 1.09022[/B], incorporating the round number [B]1.09000[/B] within. The two circled areas to the left indicate possible supply consumption, so higher prices may yet be seen up to the S/R flip level at [B]1.09408[/B].

New buy orders are seen above demand ([B]1.08907 – 1.09022[/B]) at [B]1.09035[/B], and also just below the round number [B]1.09000[/B] at [B]1.08954[/B] because price will likely retrace to collect liquidity before continuing up. The reason the order is placed below the round number is because pro money love to hunt for stops around areas such as these, so it’s always sensible to think carefully about where possible stop-loss clusters may be placed. The buy orders mentioned yesterday at demand ([B]1.08142 – 1.08330[/B]) remain the same, just in case a break below the newly-formed demand area is seen ([B]levels above[/B]).

New sell orders are seen at [B]1.09408[/B] (S/R flip level) where price will likely react if buyers have the strength to continue rallying. If a break above happens, sellers will likely come into the market at supply ([B]1.10039 – 1.09875[/B]) incorporating the huge round number [B]1.10000 [/B]within. Impending sell orders are seen below the supply area just mentioned at [B]1.09850[/B] and just above the round number ([B]1.10000[/B]) at[B]1.10020[/B].

[ul]
[li][B]Areas to watch for buy orders:[/B] Impending orders: 1.08330 (SL: 1.08114 TP: Dependent on approaching price action) 1.09035 (SL: 1.08886 TP: 1.09408)1.08954 (SL: 1.08886 TP: 1.09408).[/li][li][B]Areas to watch for sell orders[/B]: 1.09408 (SL: 1.09564 TP: 1.09035). Impending orders: 1.09850 (SL: 1.10063 TP: Dependent on approaching price action nearer the time) 1.10020 (SL: 1.10063 TP: Dependent on approaching price action nearer the time).[/li][li][B]Most likely scenario: [/B]Price will likely see a retracement to demand at [B]1.08907 – 1.09022[/B], then rally up to the S/R flip level at [B]1.09408[/B].[/li][/ul]

98

USD/CHF:

[B]4hr TF.
[/B]
Price came very close to touching the big round number [B]0.90000[/B], missing it by 5 pips or so.
As mentioned yesterday, the daily timeframe is currently in supply at [B]0.90381 – 0.89392[/B] with the 4hr timeframe showing weakness. The tail that consumed demand at [B]0.89375 – 0.89459[/B] is a very important signal that lower prices may be seen to at least the next demand ([B]0.88973 – 0.89168[/B]) below.

Buy orders at [B]0.89168[/B] remain the same as a drop in price is expected. Sell orders also remain unchanged because pro money may yet retrace price north from where we are now to collect sellers’ stops (buy orders) and breakout buyers’ orders to sell in to.

[ul]
[li][B]Areas to watch for buy orders:[/B] 0.89168 (SL: 0.88942 TP: (Overall) 0.90000, but subject to change depending on price action).[/li][li][B]Areas to watch for sell orders[/B]: 0.90000 (SL: 0.90398 TP: 0.89168).[/li][li][B]Most likely scenario:[/B] Price will likely retrace north from where price is currently trading at the time of writing, up to the round number [B]0.90000[/B] area to collect liquidity for a possible drop in price.[/li][/ul]

99

XAU/USD (GOLD)

[B]4hr TF.
[/B]
Again, like yesterday, technically not much has changed.

Near-term supply is seen at [B]1268.03 – 1260.87[/B] with near-term demand being seen below at [B]1231.56 – 1237.57 [/B]which is just beneath daily demand at [B]1238.51 – 1254.97[/B].

Sell orders ([B]1260.87[/B]) remain the same at supply ([B]1268.03 – 1260.87[/B]), the sell order may not fill due to their being no logical demand to the left, to help push price higher (shown on the chart below with a small trendline).

Buy orders ([B]1237.57[/B]), again, remain the same, seen at demand below ([B]1231.56 – 1237.57[/B]), however, do be cautious here as the small ranging action seen just above demand may cause price trouble and affect it from rallying higher.

[ul]
[li][B]Areas to watch for buy orders:[/B] 1237.57 (SL: 1230.48 TP: 1260.87).
[/li][li][B]Areas to watch for sell orders[/B]: 1260.87 (SL: 1268.99 TP: 1237.57).
[/li][/ul]
[ul]
[li][B]Most likely scenario: [/B]Price will likely spike below demand at [B]1236.56 – 1237.57[/B], possibly pushing prices higher from there.
[/li][/ul]

100

EUR/USD:

[B]Weekly/4hr TFs.
[/B]
The Euro has been a frustrating pair to trade recently, with price movements being capped between demand at[B] 1.35623 – 1.35984[/B] and supply at[B] 1.36697 – 1.36542[/B]. Today’s schedule is full of high-impacting news announcements, where we will likely see a break of the supply area just mentioned above.

A range such as what we are seeing normally means pro money is accumulating positions. Do not forget, these well-funded traders cannot just enter and exit the market as we do. Considering that we are quite deep within weekly demand shown on the chart below, pro money are likely ‘accumulating’ orders to go long i.e. buying in small batches to traders who are selling with the present bearish momentum, hence the range forming on the 4hr timeframe.

[ul]
[li]The buy order [B]1.35984[/B] worked well, and hit its target. New buy orders are seen lower within demand at [B]1.35774[/B] (marked with a red dashed line), as we want the best chances to trade alongside pro money and they require the best prices.[/li][li]Sellers are still likely active around the supply area at [B]1.36687 – 1.36542[/B], so a bearish reaction will likely be seen there, but do bear in mind the reaction may only be minimal, so be ready to exit at the first sign of trouble. Sell orders remain unchanged from yesterday at the base of supply ([B]1.36687 – 1.36542[/B]) at [B]1.36542[/B]. If a break above the supply area just mentioned happens, this could force price to test supply at [B]1.37235 –1.37005[/B] allowing sell orders to be placed above the round number at [B]1.37005[/B].[/li][/ul]

[ul]
[li][B]Areas to watch for buy orders:[/B] 1.35774 (SL: 1.35583 TP: [1] 1.36432 [2] 1.36968 [3] 1.37419).[/li][li][B]Areas to watch for sell orders[/B]: 1.36542 (SL: 1.36741 TP: 1.36000). Impending orders: 1.36968 (SL: 1.37289 TP: Dependent on future price approach).[/li][li][B]Most likely scenario: [/B]Price will likely spike south into demand at 1.35623 – 1.35984, before seeing the buyers take control and push prices north to at least the supply area at 1.36687 – 1.36542.[/li][/ul]