Daily TF.
A reminder of what the daily timeframe looks like shows how ugly the daily supply area at 1318.12-1331.08 is! How anyone could possibly trade this mess as it is now, let’s see what new developments are on the 4hr timeframe.
4hr TF.
The market opened at 1320.53, sellers took control right away pushing price ever so closer to the weak-looking 4hr demand...
The weekly timeframe shows buyers have aggressively pushed prices higher into weekly supply at 1.76297-1.67702, while on the daily timeframe, price is seen trading between daily supply at 1.76297-1.73024 and the S/R flip level below at 1.69712, which is where price will likely retrace to before a rally up to daily supply (levels above) is seen. The 4hr timeframe...
The weekly timeframe still shows buyers and sellers battling it out within weekly demand at 1.34760-1.36314, while on the daily timeframe price still remains capped between daily demand at 1.34760-1.35265 and daily supply above at 1.37297-1.36879. The 4hr timeframe shows sellers broke the round number 1.36000 early Friday, with price being seen retesting it late...
