Very similar to the EUR, the GBP also sold off during the London open. This saw price wipe out the 4hr demand area coming in at 1.5624-1.5653, and drive itself into the psychological threshold 1.5600, which at the time of writing is holding firm (bullish pin-bar candle just printed).
With the weekly timeframe showing resistive pressure coming in from the...
Yesterday’s trade saw the Gold markets take a tumble, resulting in price crossing swords with a long-term 4hr swap level coming in at 1170.4 (represents the lower limit of the daily buy zone at 1170.3-1184.0). The reaction from this barrier was quite violent as price stabbed lower, and then jabbed higher (see green arrows) thrusting itself into a 4hr swap area...
Recent events on 4hr timeframe reveal that there was clearly a strong ceiling of offers sitting around the 123.00 handle which managed to hold this market lower during yesterday’s trade. As a result, price is now currently seen teasing the lower limits of the recently broken 4hr demand area at 122.44-122.75 once again (located just above a daily swap area coming...
The latest coming in from the 4hr timeframe shows that after price shook hands with the 1.1000 level, the buyers literally waited for no one! 1.1100 and 1.1200 were completely obliterated, consequently filling the weekend gap. It was only once price connected with the mid-level number 1.1250 did we see the market begin to slacken.
We have to be honest here; we...
Weekly view – The weekly timeframe shows that gold is now effectively range bound between a weekly resistance barrier at 1223.1-1204.5 and a weekly demand at 1142.5-1167.3. From a long-term perspective, however, gold is still trending south in our opinion, and It will only be once/if we see a close above the weekly trendline extended from the high 1488.0 would we...
Weekly view – Following the rebound seen from the long-term weekly demand area at 0.7449-0.7678, price connected with a minor weekly swap level coming in at 0.7845 last week, consequently forming a weekly indecision candle. Judging by the sloppy reaction seen (pink circle – 02/02/15-06/04/15) between these two aforementioned weekly areas a few months ago, things...
Weekly view: From the weekly timeframe, we can see that price is selling off from a weekly supply area at 1.1532-1.1278. This supply zone is a very significant hurdle in our opinion (held price lower since the 11th May) since if there’s a sustained break above this area, our long-term bias (currently short) on this pair will very likely shift north.
Daily view:...
Weekly view – Following the rebound seen from the weekly swap level at 125.44, price extended lower last week, losing about 70 pips into the close 122.62. On the assumption that the sellers can continue holding this market lower this week, we believe there’s a very good chance that price will greet the minor weekly swap level seen at 121.57. Despite this recent...
Weekly view – The GBP/USD had another absolutely spectacular week, gaining a little over 320 pips into the close 1.5870. This advance, however, forced price into the jaws of a very significant weekly swap level coming in at 1.5912. Therefore, we may see this market correct itself this week.
Daily view: From this viewpoint, we can see that the upward momentum...
Weekly view: The EUR/USD enjoyed another relatively positive week last week, gaining about 84 pips into the close 1.1345. However, despite this recent advance, price is now lingering within a weekly supply area at 1.1532-1.1278, thus we have to be prepared for possibility that active sellers may come into the market this week. This supply zone is a very...
Weekly view – Following the rebound seen from the long-term weekly demand area at 0.7449-0.7678, price has shook hands with a minor weekly swap level coming in at 0.7845. However, judging by the sloppy reaction seen (pink circle – 02/02/15-06/04/15) between these two aforementioned weekly areas a few months earlier, things could potentially get messy here again...
Weekly view – From the weekly timeframe, we can see that price has continued to spiral south from the initial rebound at 0.9512. Should the sellers be able to continue with this intensity, it is likely we’ll see price shake hands with the weekly swap area seen below at 0.9074-0.9000 either today or tomorrow.
Daily view: The buyers finally gave in yesterday as...
Weekly view: The weekly timeframe shows that price is trading within a weekly supply area coming in at 1.1532-1.1278.This supply zone is a very significant hurdle in our opinion (held price lower since the 11th May) since if there’s a sustained break above this area, our long-term bias (currently short) on this pair will very likely shift north.
Daily view:...
Weekly view – The weekly timeframe shows that the GBP has now connected with a weekly supply barrier coming in at 1.5824-1.5634.
Daily view: Following the rebound seen from the daily swap zone seen at 1.5478-1.5435, price extended higher during yesterday’s session. This move drove the pound deeper into a daily supply area at 1.5698-1.5530 (located just below the...
Weekly view: The weekly timeframe shows that price is currently nibbling at the underside of a weekly supply area coming in at 1.1532-1.1278.This supply zone is a very significant hurdle in our opinion (held price lower since the 11th May) since if there’s a sustained break above this area, our long-term bias (currently short) on this pair will very likely shift...
Weekly view – The latest coming in from this timeframe shows us that price printed a strong bull candle going into last week’s close 1.5551, consequently engulfing the previous two weekly bear candles. This move, as you can see, also forced price above a weekly swap level at 1.5451, which in turn likely opened the gates for the market to challenge the weekly...
Weekly view: Last week’s trading action saw the Euro market close at 1.1261 – a mere seventeen pips below a clear area of weekly supply coming in at 1.1532-1.1278. Therefore, for anyone considering longs on this pair this week, you may want to take a note of this. This supply zone, at least to us anyway, is a very significant hurdle (held price lower since the...
Weekly view – After a little tug-of-war around the weekly swap level 1.2439, the sellers, at this point in time, appear to be taking control. Overall though, our long-term bias on this pair is long, and it will only be once we see a break below the weekly swap area at 1.2034-1.1870 would our present bias likely shift.
Daily view: The daily timeframe shows that...
