Weekly Timeframe: The weekly timeframe shows that the buyers are currently overpowering any selling opposition seen around the major combined weekly demand/Quasimodo support area (1.22403-1.24420/1.22866) at the moment. Assuming that the buyers do not lose their enthusiasm here, a test of a weekly support swap level at 1.25816 could be on the cards.
Daily...
Weekly Timeframe: For the past three weeks now, price has been stalling around a weekly supply area coming in at 0.98378-0.96993. In the event that active sellers enter the market here, we see very little stopping prices from declining down to at least 0.94546, a weekly resistance flip level.
Daily Timeframe: The current situation on the daily timeframe shows...
Weekly Timeframe: Three weeks ago, selling interest came into the market a few pips below a major weekly supply area seen at 1.18061-1.14739, consequently encouraging follow-through selling. As per this timeframe, it appears the path south is potentially clear down to at least 1.09394, since we believe most of the near-term demand has already likely been consumed...
Weekly Timeframe: The weekly timeframe is currently showing that the buyers and sellers are battling it out around a major combined weekly demand/Quasimodo support area at 1.22403-1.24420/1.22866. In the event that the buyers outweigh the sellers here, prices will likely rally higher and test a weekly support swap level coming in at 1.25816.
Daily Timeframe: The...
Weekly Timeframe: The weekly timeframe shows that price had extended higher last week, which as a result will likely add confidence to the buying strength currently being seen off of the weekly decision-point demand level at 1136.30. At the time of writing, there seems to be very little resistance in the way that could stop prices challenging 1244.08 again. Let’s...
Weekly Timeframe: Three weeks ago, selling interest came into the market a few pips below a major weekly supply area coming in at 1.18061-1.14739, consequently encouraging follow-through selling. As per this timeframe, it appears the path south is potentially clear down to at least 1.09394, since we believe most of the near-term demand has already likely been...
Weekly Timeframe: Last week saw the USD/JPY pair advance to a fresh high of 118.968 as price continued on its relentless march north. This move consequently spiked above a major weekly supply area coming in at 117.931-116.799. Was this spike a fakeout to gather liquidity for lower prices, or a continuation move for a rally higher? Let’s see what we can find on the...
Weekly Timeframe: The weekly timeframe is currently showing that the buyers and sellers are battling it out within a major combined weekly demand/Quasimodo support area at 1.22403-1.24420/1.22866. In the event that the buyers outweigh the sellers here, prices will likely rally higher and test a weekly support swap level coming in at 1.25816.
Daily Timeframe: The...
Weekly Timeframe: Last week saw the USD/JPY pair advance to a fresh high of 118.968 as price continued to rally. This move consequently spiked above a major weekly supply area coming in at 117.931-116.799. Was this spike a fakeout to gather liquidity for lower prices, or a continuation move for a rally higher? Hopefully the lower timeframes can help.
Daily...
Weekly Timeframe: Last week’s price action shows it was pretty uneventful on the GBP/USD. Price was contained between a weekly demand area seen at 1.54260-1.56110, and a weekly resistance swap level coming in at 1.57166. As a consequence, an indecision candle formed. Let’s see what the lower timeframes can offer us.
Daily Timeframe: The daily timeframe...
Weekly Timeframe: The situation on the weekly timeframe shows that the buyers seemingly lost steam after hitting the 1.25816 mark, a major weekly support swap level. As a consequence, this has forced the market back down into the combined weekly demand/Quasimodo support area at 1.22403-1.24420/1.22866 where price initially came from.
Daily Timeframe: *New...
Weekly Timeframe: The weekly timeframe shows that the buyers are still defending the 1.12775 weekly level. Our bias will continue to remain long, and will only change once a significant close below this level is seen.
Daily Timeframe: The daily timeframe is showing interesting price action at the moment. Check out when price broke above the 1.12775 weekly level...
Weekly Timeframe: The weekly timeframe shows that price is still ranging between a major weekly demand area at 0.76931-0.78623, and a weekly resistance level coming in at 0.80328. With that being said, anyone one considering buying the Euro at the moment may want to hold fire, since price is currently trading around the upper limits of this range (0.80328). Let’s...
Weekly Timeframe: The USD/JPY continues on its relentless march north, consequently spiking (118.968) above a major weekly supply area coming in at 117.931-116.799. The question we need answering is, is this spike a fakeout for lower prices, or is indeed a continuation move for a rally higher? Hopefully the lower timeframes can help.
Daily Timeframe: The daily...
Weekly Timeframe: The weekly timeframe shows that there is clearly buying interest being seen off of a combined weekly demand/Quasimodo support area (1.22403-1.24420/1.22866) at the moment. However, let’s all not get too excited thinking price is heading to the moon, since a weekly support swap level lurking just above at 1.26229 will likely be resistive. Let’s...
Weekly Timeframe: The weekly timeframe currently shows that the buyers and sellers are still battling it out between an ignored weekly Quasimodo support level seen at 0.88189, and a weekly Quasimodo support level below coming in at 0.85769. A close above would likely clear the way for prices to challenge a weekly support flip level seen at 0.89972, and likewise a...
Weekly Timeframe: The weekly timeframe shows that the buyers and sellers are still battling for position between the upper limits of a weekly demand area at 1.54260-1.56110, and a weekly resistance flip level seen at 1.57166. Let’s see what the lower timeframes can offer us.
Daily Timeframe: The daily timeframe shows that price is currently trading deep within a...
Weekly Timeframe: The weekly timeframe shows that further buying is currently being seen off of a combined weekly demand/Quasimodo support area (1.22403-1.24420/1.22866) at the moment. As a consequence, this has forced prices to trade just below a weekly support swap level coming in at 1.26229.
Daily Timeframe: Price has broken above a daily supply area seen at...
