Weekly TF.
The weekly timeframe has not seen much change over the past six weeks as price is still trading within an important weekly demand area at 1.34760-1.36314. The sellers made an attempt at previous weekly lows (1.35844) but were rejected by the buyers which closed price for the week at 1.36064. Taking all of the above into consideration, higher prices are...
4hr TF.
Price has seen a strong advance possibly consuming the majority of the sellers in and around 4hr supply at 1342.30-1335.74. Logically speaking, price is now free to hit the above 4hr supply at 1363.99-1350.62, however before it does that, price could very well drop to 4hr demand below at 1307.58-1315.67.
So what does this mean on the daily timeframe?...
4hr TF.
The higher picture resembles the following:
• The weekly timeframe is showing price consolidating just above weekly demand at 0.85664-0.88124
• Daily supply at 0.90372-0.90042 has seen a lot of action over the past few weeks with no break north seen yet. Price is currently capped between the daily supply level just mentioned above and the daily S/R flip...
4hr TF.
The higher picture resembles the following:
• Price is currently seen trading quite deep within weekly demand at 1.05715-1.07008.
• Much like the weekly timeframe above, the daily timeframe shows price is currently trading within daily demand at 1.05874-1.06680.
Considering the higher-timeframe picture (see above), higher prices was and still is...
4hr TF.
It was reported in the last analysis that we should be prepared for price to retrace a little to the 4hr minor demand (circled) at around the 0.79388 area before a break above temporary 4hr resistance at 0.79586-0.79534 is seen.
Price broke above the aforementioned temporary resistance area straight into our S/R flip level at 0.79679 where a strong...
4hr TF.
The higher picture resembles the following:
• The weekly timeframe shows price is trading around a long-term S/R flip level support at 101.206 with a positive close below yet to be seen.
• Buyers and sellers on the daily timeframe are currently trading within a range with resistance being seen above at 102.713 and daily demand seen below at...
4hr TF.
What a beautiful site that is! Look at the way price reacted to our 4hr decision point level at 0.94408. Clearly pro money pushed price hard north, but not without stopping out a ton of buyers in the process, look at the tail marked with an arrow. These are the situations where one enters into a trade, price stops you out, and then shoots off to your...
4hr TF.
The higher picture resembles the following:
• Buyers are still seen deep within weekly supply territory at 1.76297-1.67702, with a little interest being shown by the sellers at the moment.
• The daily timeframe still shows price is currently trading in no man’s land between daily supply above at 1.76297-1.73024 and daily S/R flip level seen below at...
4hr TF.
The higher picture resembles the following:
• Buyers and sellers still remain trading within weekly demand at 1.34760-1.36314.
• Trading remains capped between daily supply at 1.37297-1.36879 and daily demand below at 1.34760-1.35265.
On the 4hr timeframe the sellers pushed a little deeper into the support (which was a prior decision point level) at...
4hr TF.
Technically, not a lot has changed on this pair as no break of either 4hr demand at 1304.77-1308.55 or 4hr supply above at 1342.30-1335.74.
Again, much the same as the last analysis:
Price spiking above daily supply (levels above) nearly hit a great-looking 4hr supply area at 1342.30-1335.74. Now, if this is indeed a fakeout above daily supply (levels...
4hr TF.
The higher picture resembles the following:
• The weekly timeframe is showing price consolidating just above weekly demand at 0.85664-0.88124
• Daily supply at 0.90372-0.90042 has seen a lot of action over the past few weeks with no break north seen yet. Price is currently capped between the daily supply level just mentioned above and the daily S/R flip...
4hr TF.
It was reported in the last analysis that price will likely see a decline in value down towards the 4hr demand area at 1.06041-1.06312. No decline has really been seen as of yet, as price seems to be stalling around a minor S/R flip level seen at 1.06660.
We still firmly favour a retracement back to 4hr demand area below (levels above) as pro money...
4hr TF.
Technically not a lot has changed since the last analysis as price is still seen trading between the 4hr S/R flip level at 0.79679 and 4hr demand below at 0.78862-0.79048.
Temporary 4hr resistance is seen between 0.79586-0.79534, and this is all, at the time of writing stopping price from hitting the 4hr S/R flip level at 0.79679. Considering we have just...
4hr TF.
The higher picture resembles the following:
• The weekly timeframe shows price is trading around a long-term S/R flip level support at 102.206 with a positive close below yet to be seen.
• Buyers and sellers on the daily timeframe are currently trading within a range with resistance being seen above at 102.713 and daily demand seen below at...
4hr TF.
Look at price consolidating around the round number 0.94000, it is hard to imagine how many sellers and breakout buyers have been stopped out during this ranging price action!
A decision has yet to be made, however we can be pretty sure pro money are very busy at work. All of those wicks were to more than likely tempt traders on the lower timeframes to...
GBP/USD:
4hr TF.
The higher picture resembles the following:
• Buyers are still seen deep within weekly supply territory at 1.76297-1.67702, with a little interest being shown by the sellers at the moment.
• The daily timeframe still shows price is currently trading in no man’s land between daily supply above at 1.76297-1.73024 and daily S/R flip level seen...
EUR/USD:
4hr TF.
The higher picture resembles the following:
• Buyers and sellers still remain trading within weekly demand at 1.34760-1.36314.
• Trading remains capped between daily supply at 1.37297-1.36879 and daily demand below at 1.34760-1.35265.
It was reported in the last analysis that a decision needed to be made, that decision was to either break the...
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...
