Weekly Timeframe: The weekly timeframe shows that price has aggressively broken below a weekly demand area coming in at 0.86591-0.88247, forcing the market to close the week at 0.86324. Assuming that further selling is seen from here, we can likely expect price to test the huge weekly demand area looming below at 0.80646-0.84601 either this week or the next. Let’s...
Weekly Timeframe: Last week saw the British pound take a tumble resulting in the weekly demand area seen at 1.58533-1.60157 being broken. This move potentially opens the gates for price to challenge 1.57166, a strong-looking weekly resistance flip level. That being said, we have to take into consideration the fact that price did not actually close below this...
Weekly Timeframe: The weekly timeframe shows that after two weeks of consecutive selling, buying interest may be coming into the market, as a weekly indecision candle formed last week around a combined weekly demand/Quasimodo support area seen at 1.22403-1.24420/1.22866. Assuming that further buying is indeed seen here, price could possibly trade all the way back...
Weekly Timeframe: The weekly timeframe still shows price is capped between a weekly supply area coming in at 0.98378-0.95895, and a weekly resistance flip level seen at 0.94546. With that being said, at the time of writing most of the trading action is taking place within the aforementioned weekly supply area with the buyers seen in overall control.
Daily...
Weekly Timeframe: The weekly timeframe shows that price is currently trading above the medium-term weekly high 1.12775. Ultimately, we would like to see the current weekly candle firmly close above this level, as this would likely confirm that higher prices may be seen up to around a weekly supply area coming in at 1.17225-1.15417.
Daily Timeframe: Price is...
Weekly Timeframe: The weekly timeframe shows that the Euro is being sold against the U.S Dollar. As a consequence this is forcing prices deeper into a combined weekly demand/Quasimodo support area coming in at 1.22403-1.24420/1.22866.
Daily Timeframe: Daily demand coming in at 1.22462-1.25616 has been well and truly consumed, which as a result attracted further...
Weekly Timeframe: For the past four weeks now price has been seen trading around a weekly demand area coming in at 1.58533-1.60157. As far as buying is concerned, we are a bit cautious as there has been very little ‘convincing’ interest shown by the buyers within these four weeks of trading. In fact, we would go as far to say that the GBP/USD looks a right mess...
Weekly Timeframe: The weekly timeframe still shows price is capped between a weekly supply area coming in at 0.98378-0.95895, and a weekly resistance flip level seen at 0.94546. With that being said, at the time of writing most of the trading action is taking place within the aforementioned weekly supply area.
Daily Timeframe: This week started off with price...
Weekly Timeframe: The weekly timeframe shows that price is currently trading above the medium-term weekly high 1.12775. Ultimately, we would like to see the current weekly candle firmly close above this level, as this would likely confirm higher prices may be seen up to around a weekly supply area coming in at 1.17225-1.15417.
Daily Timeframe: Further U.S Dollar...
Weekly Timeframe: The weekly timeframe shows that the EUR/USD is currently reacting off of a combined weekly demand/Quasimodo support area at 1.22403-1.24420/1.22866. Could we assume further buying will be seen from here? Let’s see what we can find on the lower timeframes.
Daily Timeframe: Further buying was seen yesterday giving us the impression that the spike...
Weekly Timeframe: The weekly timeframe still shows price is capped between a weekly supply area coming in at 0.98378-0.95895, and a weekly resistance flip level seen at 0.94546.
Daily Timeframe: An average-looking bearish pin-bar candle formed yesterday within a major daily supply area at 0.97505-0.96339 (located within the aforementioned weekly supply area)....
Weekly Timeframe: The weekly timeframe shows that price has broken out north above the medium-term weekly high 1.12775. Ultimately, we would like to see the current weekly candle firmly close above this level, as this would likely confirm higher prices will follow up to around a weekly supply area at 1.17225-1.15417.
Daily Timeframe: It was reported in the...
Weekly Timeframe: For the past four weeks now price has been seen trading around a weekly demand area coming in at 1.58533-1.60157. As far as buying is concerned though, we are a bit cautious as there has been very little ‘convincing’ interest shown by the buyers within these four weeks of trading. In fact, we would go as far to say that the GBP/USD looks a right...
Weekly Timeframe: The weekly timeframe shows that the EUR/USD is currently reacting off of a combined weekly demand/Quasimodo support area at 1.22403-1.24420/1.22866. Could we assume further buying will be seen from here? Let’s see what we can find on the lower timeframes.
Daily Timeframe: The daily timeframe reveals that price has broken through a notable daily...
Weekly Timeframe: The rebound seen the week before last off of the weekly support flip level at 1244.08 extended lower last week pushing price deeper into a weekly demand area coming in at 1156.70-1194.45. This move has very likely put a lot of buyers under pressure who bought within this area, which could result in a lot of traders panicking, and closing their...
Weekly Timeframe: Last week was clearly one for the bears as the market aggressively sold into (and slightly broke) a minor weekly demand area coming in at 1.24996-1.26262. Does this mean price is clear to hit the combined weekly demand/Quasimodo support area below at 1.22403-1.24420/1.22866, or is this break simply a fakeout to collect stops? Let’s see what the...
Weekly Timeframe: The rebound from the weekly support flip level seen at 1244.08 has forced price to test the weekly demand area once again at 1156.70-1195.45.
Daily Timeframe: The daily timeframe shows that gold declined in value for the second day running yesterday, which resulted in the 1206.49 level being breached. As per this timeframe, the path south looks...
Weekly Timeframe: The weekly timeframe shows that price remains trading around the base of a weekly demand area seen at 0.76931-0.78623. Considering just the weekly timeframe for a moment, price has not exactly been showing much in the way of buying strength. Could it be ‘game over’ for this demand area?
Daily Timeframe: Indecision is being seen on the daily...
