Weekly view – From the weekly timeframe, we can see that price is now crossing swords with the weekly supply area coming in at 1.1532-1.1278 again. This supply zone is a very significant hurdle in our opinion since if there is a sustained break above this area, our long-term bias on this pair will very likely shift north.
Daily view: Yesterday’s daily action...
Weekly view – For the past three weeks the gold market sold off, which as you can see, eventually clashed with a weekly demand area coming in at 1142.5-1167.3. From a long-term perspective, however, gold is still trending south in our opinion. For this bias to be invalidated, a push above the weekly trendline extended from the high 1488.0 would need to be seen....
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. It will only be once we see a break below the aforementioned weekly swap area would our present bias likely shift.
Daily view: From this angle, it is clear to see...
Weekly view – The weekly timeframe shows that price has rallied for three consecutive weeks, which took out a weekly supply area at 124.13-122.22, and connected nicely with a weekly swap level seen at 125.44. Essentially, the long-term uptrend on this pair is still very much intact, and will remain that way in our opinion until the weekly swap level 115.50 is...
Weekly view – From the weekly timeframe, we can see that price is now crossing swords with the weekly supply area coming in at 1.1532-1.1278 again. This supply zone is a very significant hurdle in our opinion since if there is a sustained break above this area, our long-term bias on this pair will very likely shift north.
Daily view: Following Monday’s rebound...
Weekly view – The weekly timeframe shows that price rallied for three consecutive weeks, consequently taking out a weekly supply area at 124.13-122.22, and marrying up with a weekly swap level seen at 125.44.
Daily view: The small break above the daily resistance area at 125.69-124.62 on Friday clearly triggered selling in the market during yesterday’s session....
Weekly view – Following the push seen into the weekly demand area at 0.7449-0.7678, last week’s trading action shows that price printed an inverted weekly pin-bar candle. To some traders this may be a sign that the market wants higher prices – a reversal signal, and they could very well be right considering where the candle pattern formed. Nevertheless, Judging by...
Weekly view – At the time of writing, the small weekly demand area at 1.5088-1.5184 is currently holding the GBP nicely. Should this attract further buying into the market, the weekly swap level at 1.5451 will likely be the next objective to reach.
Daily view: Similar to the weekly timeframe, the daily timeframe shows buying pressure coming in from the base of...
Weekly view – Following the rebound seen from the 1.5144 region, price recently connected with the lower limits of a long-term weekly swap level at 1.5451.
Daily view: Once again, the volatility seen during yesterday’s session was quite heavy. This saw the GBP hit a daily swap area seen at 1.5478-1.5435, which forced the market to close only 19 pips above...
Weekly view – From a long-term standpoint, the downtrend on this pair is still very much intact. It’s only once/if we see a close above the current weekly supply area at 1.1532-1.1278 will we be convinced the trend may be shifting direction.
Daily view: The daily timeframe shows that price did indeed continue to rally, which, as you can see, came within a stone’s...
Weekly view – From a long-term standpoint, the downtrend on this pair is still very much intact. It’s only once or if we see a close above the weekly supply area at 1.1532-1.1278 will we be convinced the trend may be shifting direction.
Daily view: The daily timeframe shows that the Euro continued to march north during yesterday’s session, taking out the daily...
Weekly view – From a long-term perspective, the gold market is still trending south in our opinion. For this bias to be invalidated, a push above the weekly trendline extended from the high 1488.0 would need to be seen.
Recently, however, the buyers and sellers have been seen battling for position around the top of a small weekly demand area at 1170.3-1188.4....
Weekly view – The weekly timeframe shows that active buying recently come into the market a few pips from above a weekly swap level positioned at 1.5144.Assuming that the buyers can continue with this tempo, it’s possible we may see price challenge the weekly swap level 1.5451, or given enough time, the weekly supply area seen just above it at...
Weekly view – Essentially, the outlook on this pair remains positive. It is only once we see a close below the weekly swap level 115.50 will we be convinced the trend may be shifting.
Following the strong buying over the past two weeks, price continues to march north, pushing this market further above the major weekly supply area at 124.13-122.22. If this buying...
Weekly view – From a long-term standpoint, the trend on this pair is still southbound in our opinion, and will only change once price closes above the weekly supply area at 1.1532-1.1278.
Recent action, however, shows that the Euro is now trapped between a weekly swap level seen at 1.1051 and a weekly demand area coming in at 1.0519-1.0798.
Daily view: From this...
Weekly view – The weekly timeframe shows that the rebound seen from the weekly supply area at 1.5824-1.5634 extended lower last week, consequently forcing the GBP to close negatively at 1.5288. As per this chart, we see absolutely no reason why price will not continue to sell off this week down towards 1.5144.
Daily view: Following the break and retest of the...
Weekly view: The weekly timeframe shows that price recently pushed below a weekly swap area coming in at 1.5551-1.5391. This has potentially opened the gates for further selling down to 1.5144 – a recent level where serious weekly buyers came into the market.
Daily view: Following the retest of the recently broken daily Quasimodo area at 1.5478-1.5435, price has...
Weekly view: The weekly timeframe shows us that relatively strong buying interest came into the market twenty or so pips from above a weekly demand area seen at 1.0519-1.0798. If the buyers remain in control here, we might see price shake hands with a weekly swap level coming in at 1.1051.
Daily view: From the daily scale, we can see that the rebound from the...
