Weekly Timeframe: The weekly timeframe still shows price is capped between a weekly supply area coming in at 0.98378-0.95895, and a weekly resistance flip level seen at 0.94546. With that being said, at the time of writing most of the trading action is taking place within the aforementioned weekly supply area.
Daily Timeframe: This week started off with price...
Weekly Timeframe: The weekly timeframe shows that price is currently trading above the medium-term weekly high 1.12775. Ultimately, we would like to see the current weekly candle firmly close above this level, as this would likely confirm higher prices may be seen up to around a weekly supply area coming in at 1.17225-1.15417.
Daily Timeframe: Further U.S Dollar...
Weekly Timeframe: The weekly timeframe shows that the EUR/USD is currently reacting off of a combined weekly demand/Quasimodo support area at 1.22403-1.24420/1.22866. Could we assume further buying will be seen from here? Let’s see what we can find on the lower timeframes.
Daily Timeframe: Further buying was seen yesterday giving us the impression that the spike...
Weekly Timeframe: The weekly timeframe still shows price is capped between a weekly supply area coming in at 0.98378-0.95895, and a weekly resistance flip level seen at 0.94546.
Daily Timeframe: An average-looking bearish pin-bar candle formed yesterday within a major daily supply area at 0.97505-0.96339 (located within the aforementioned weekly supply area)....
Weekly Timeframe: The weekly timeframe shows that price has broken out north above the medium-term weekly high 1.12775. Ultimately, we would like to see the current weekly candle firmly close above this level, as this would likely confirm higher prices will follow up to around a weekly supply area at 1.17225-1.15417.
Daily Timeframe: It was reported in the...
Weekly Timeframe: For the past four weeks now price has been seen trading around a weekly demand area coming in at 1.58533-1.60157. As far as buying is concerned though, we are a bit cautious as there has been very little ‘convincing’ interest shown by the buyers within these four weeks of trading. In fact, we would go as far to say that the GBP/USD looks a right...
Weekly Timeframe: The weekly timeframe shows that the EUR/USD is currently reacting off of a combined weekly demand/Quasimodo support area at 1.22403-1.24420/1.22866. Could we assume further buying will be seen from here? Let’s see what we can find on the lower timeframes.
Daily Timeframe: The daily timeframe reveals that price has broken through a notable daily...
Weekly Timeframe: The rebound seen the week before last off of the weekly support flip level at 1244.08 extended lower last week pushing price deeper into a weekly demand area coming in at 1156.70-1194.45. This move has very likely put a lot of buyers under pressure who bought within this area, which could result in a lot of traders panicking, and closing their...
Weekly Timeframe: Last week was clearly one for the bears as the market aggressively sold into (and slightly broke) a minor weekly demand area coming in at 1.24996-1.26262. Does this mean price is clear to hit the combined weekly demand/Quasimodo support area below at 1.22403-1.24420/1.22866, or is this break simply a fakeout to collect stops? Let’s see what the...
Weekly Timeframe: The rebound from the weekly support flip level seen at 1244.08 has forced price to test the weekly demand area once again at 1156.70-1195.45.
Daily Timeframe: The daily timeframe shows that gold declined in value for the second day running yesterday, which resulted in the 1206.49 level being breached. As per this timeframe, the path south looks...
Weekly Timeframe: The weekly timeframe shows that price remains trading around the base of a weekly demand area seen at 0.76931-0.78623. Considering just the weekly timeframe for a moment, price has not exactly been showing much in the way of buying strength. Could it be ‘game over’ for this demand area?
Daily Timeframe: Indecision is being seen on the daily...
Weekly Timeframe: The rebound from the weekly support flip level at 1244.08 appears to be extending lower at the moment. Assuming this selling continues, there is a possibility that price could trade back down towards a weekly demand area coming in at 1156.70-1195.45.
Daily Timeframe: The daily timeframe shows that price has retested the 1235.54 level as...
Weekly Timeframe: For the past few weeks price has been trading around a weekly demand area coming in at 1.58533-1.60157. There has been some buying interest seen here, but nothing to get excited about. A break below here would likely attract further selling down to a weekly resistance flip level seen at 1.57166.
Daily Timeframe: The daily timeframe shows just...
Weekly Timeframe: The weekly timeframe shows that buying interest is being seen off of a minor weekly demand area coming in at 1.24996-1.26262. However, going long here is not something we’d consider since there is a huge weekly support flip level looming just above at 1.27541.
Daily Timeframe: At the time of writing, price seems to be standing strong on a minor...
Weekly Timeframe: Price is once again seen trading around a huge weekly demand area coming in at 0.76931-0.78623. We have to be honest here, considering only the weekly timeframe for a minute; we would be very worried if we were buyers, as this demand area is not exactly showing any bullish strength at the moment.
Daily Timeframe: The daily timeframe shows that...
Weekly Timeframe: Last week shows that the buyers were unable to close above the 1.12775 high. Be that as it may, we still feel that the majority of sellers here were well and truly consumed with that humongous wick coming in at 1.13842, and as a result there is a good chance higher prices could still be seen.
Daily Timeframe: The daily timeframe shows that even...
Weekly Timeframe: Price is once again seen trading around a huge weekly demand area coming in at 0.76931-0.78623. We have to be honest here, considering only the weekly timeframe for a minute; we would be very worried if we were buyers, as this demand area is not exactly showing any bullish strength at the moment.
Daily Timeframe: The daily timeframe shows that...
Weekly Timeframe: The weekly timeframe shows that price is currently heading south, as selling interest came into the market around the 1.28393 level, just below a strong-looking weekly supply area seen at 1.29941-1.28583.
Daily Timeframe: The Euro continues to lose ground as prices took yet another tumble yesterday. This consequently saw the small daily...
