Weekly Timeframe: The weekly chart shows that the GBP/USD is now trading just above a weekly swap level seen at 1.4832. This level, in our opinion, is quite a significant one since if you look to the left; you’ll notice that this price area was in fact the origin of a year-long uptrend seen back in mid-2013.
Daily Timeframe: At this point in time, the buyers and...
Weekly Timeframe: The weekly timeframe shows that price recently spiked below (only by a few pips mind you) a weekly demand area coming in at 1.0499-1.0740. The question we would love an answer to is to whether this was a fakeout for higher prices, or consumption to go lower? Let’s take a look to see what the lower timeframes make of this…
Daily Timeframe: The...
Weekly Timeframe: The weekly timeframe shows that price is currently trading just below a weekly demand area coming in at 1166.8-1195.0. Assuming that the sellers can hold out below this zone, we feel there’s a good chance that further downside will be seen towards the weekly decision-point demand level coming in at 1136.3.
Daily Timeframe: From the pits of the...
Weekly Timeframe: Overall, price action on the weekly timeframe remains relatively unchanged. The USD/CAD pair is still seen capped to the upside by a weekly Quasimodo resistance level visible at 1.2765.
Daily Timeframe: Yesterday’s daily candle saw price close above the 1.2662 high, which, as we mentioned yesterday, would likely clear the path north for the...
Weekly Timeframe: The weekly timeframe shows that further downside has been seen, thereupon forcing the Euro into a weekly demand area formed back in early 2003 at 1.0499-1.0740.
Daily Timeframe: From the daily timeframe, we can see that yesterday’s daily candle took out a major daily demand area coming in at 1.0760-1.0872 (encapsulates major daily swap level at...
Weekly Timeframe: Last week’s trading action reveals that the 18098 high was clearly not strong enough to hold as support, which, as a result, saw the market sell off and close at 17869. Should further selling be seen from here this week, weekly support (as far as we can see) is not expected to come into the market until around the ignored weekly Quasimodo level...
Weekly Timeframe: From the weekly timeframe, we can see that Gold sold off last week which consequently saw price break (a few pips) below a weekly demand area at 1166.8-1195.0. Could this be all that’s needed to encourage further selling down to a weekly decision-point demand level at 1136.3? Let’s take a look at the lower timeframes to see what we can...
Weekly Timeframe: Cable, like the Euro, also formed a large full-bodied bearish candle stretching a little over 390 pips from open (1.5414) to close (1.5020). This move (likely caused by the NFP result as well) consequently forced prices down to just above (13 pips to be exact) an already proven weekly Quasimodo support level coming in at 1.5007.
Daily Timeframe:...
Weekly Timeframe: Last week shows price closed (120.69) above the upper limits of a weekly symmetrical triangle formation (121.83/117.43). This move has very likely cleared the path north for further buying up to a weekly Quasimodo resistance level coming in at 122.18.
Daily Timeframe: From the pits of the daily timeframe, we can see that Friday’s trading...
Weekly Timeframe: Last week saw the market print a whopping full-bodied bearish candle stretching a little over 340 pips from open (1.1180) to close 1.0837). This king-size whopper managed to take out a weekly Quasimodo support level at 1.1109, and drive deep into a weekly demand area coming in at 1.0760-1.0988. A break below this zone would likely see further...
Weekly Timeframe: From the weekly timeframe, we can see that price is currently capped between a weekly swap level coming in at 1222.2, and a weekly demand area seen at 1166.8-1195.0.
Daily Timeframe: The daily timeframe shows that buying and selling is currently taking place in between the aforementioned weekly swap level, and a daily ascending channel support...
Weekly Timeframe: The weekly timeframe shows that price is currently trading around the upper limits of a weekly symmetrical triangle formation (121.83/117.43). A convincing close above this limit would likely encourage follow-through buying up to a weekly Quasimodo resistance level coming in at 122.18.
Daily Timeframe: Recent developments on the daily timeframe...
Weekly Timeframe: The weekly timeframe shows that price has broken below a major weekly Quasimodo support level at 1.1109, and, as a consequence hit weekly demand coming in at 1.0760-1.0988.
Daily Timeframe: Yesterday saw the Euro take out daily demand at 1.1045-1.1127. This consequently drove the market south into a daily swap area seen below at 1.1016-1.0952...
Weekly Timeframe: From the weekly timeframe, we can see that price is currently capped between a weekly swap level coming in at 1222.2, and a weekly demand area seen at 1166.8-1195.0.
Daily Timeframe: The daily timeframe shows that buying and selling is currently taking place in between a weekly swap level mentioned above at 1222.2, and a daily ascending channel...
Weekly Timeframe: The weekly timeframe shows that further downside from the weekly swap area at 1.5426-1.5561 has recently been seen. This move consequently pushed the GBP deep into the depths of a weekly swap level seen at 1.5270.
Daily Timeframe: Yesterday’s trading action saw the market plunge into a daily demand area coming in at 1.5195-1.5252, which, if you...
Weekly Timeframe: The weekly timeframe shows that the EUR/USD has punched below a major weekly Quasimodo support level coming in at 1.1109. This move has likely opened the gates for prices to challenge the weekly demand area seen below at 1.0760-1.0988.
Daily Timeframe: Yesterday saw the Euro print a (near) full-bodied bearish candle, which as a result forced the...
Weekly Timeframe: The weekly timeframe shows that price is currently trading above the recently broken high 18098. This number should, in our opinion, provide a supportive base for the DOW should a retracement be seen.
Daily Timeframe: We can see from the daily timeframe that price is currently being supported by a small daily decision-point demand area coming in...
Weekly Timeframe: The weekly timeframe shows that the buyers and sellers are currently battling for position just above a major weekly Quasimodo support level at 1.1109.
Daily Timeframe: Similar to the weekly timeframe, the daily timeframe shows price hovering just above a daily demand area coming in at 1.1045-1.1127, which, if you look back to the weekly chart,...
