Gold:
- Daily PA reacted to a weekly level, but price closed below this level showing bearish momentum. Current daily price has pulled back above that weekly level but is weak. H4 is sitting on this weekly level after some bearish movement. Previous H4 price has broken structure to the downside so some sort of retracement into a resistance level may be upcoming. M15 showing bearish structure as well, but I have set an alert at 1590 to see how price reacts at this level. I expect this level to break and to further continue the retracement of the H4 timeframe, but I will wait and see how price reacts at this level to form a bias.
GBPJPY:
- Daily GJ price is bearish, but is currently sitting on a daily resistance level. H4 price is bearish as well trading below the 8 EMA with bearish candlesticks and structure, but again is sitting on daily level. M15 is showing choppy PA, but overall structure is bearish. I will wait to see if it breaks or respects this daily level before trading this pair. My best guess is that it will break this level and continue to move to the level daily level at 127.90, but will wait to see price break before entering short to that next level.
AUDUSD:
- Daily PA is very bearish, but is running into a daily demand level from 2009. Price is consolidating on H4 and is forming a rounded bottom off of this daily level. M15 structure is still bearish, but I have set an alert at .62645 which is the M15 +2 level to see how price reacts at this level. If price breaks we know the daily level is respected and we are headed to the upside potentially to .6500, but if price reacts to this level we are headed south to who knows where.
EURUSD
- Daily PA is sill bearish as it broke the daily level and is currently coming back to retest that level with the current daily candle. H4 PA is showing similar structure as the daily level was previously broken and retested before dropping almost 200 pips. PA is strong bullish at the moment on H4 but is running up against the daily level. M15 just broke this daily level as well as the M15 +2 level, so bullish momentum is strong.
- Daily PA reacted to a weekly level, but price closed below this level showing bearish momentum. Current daily price has pulled back above that weekly level but is weak. H4 is sitting on this weekly level after some bearish movement. Previous H4 price has broken structure to the downside so some sort of retracement into a resistance level may be upcoming. M15 showing bearish structure as well, but I have set an alert at 1590 to see how price reacts at this level. I expect this level to break and to further continue the retracement of the H4 timeframe, but I will wait and see how price reacts at this level to form a bias.
GBPJPY:
- Daily GJ price is bearish, but is currently sitting on a daily resistance level. H4 price is bearish as well trading below the 8 EMA with bearish candlesticks and structure, but again is sitting on daily level. M15 is showing choppy PA, but overall structure is bearish. I will wait to see if it breaks or respects this daily level before trading this pair. My best guess is that it will break this level and continue to move to the level daily level at 127.90, but will wait to see price break before entering short to that next level.
AUDUSD:
- Daily PA is very bearish, but is running into a daily demand level from 2009. Price is consolidating on H4 and is forming a rounded bottom off of this daily level. M15 structure is still bearish, but I have set an alert at .62645 which is the M15 +2 level to see how price reacts at this level. If price breaks we know the daily level is respected and we are headed to the upside potentially to .6500, but if price reacts to this level we are headed south to who knows where.
EURUSD
- Daily PA is sill bearish as it broke the daily level and is currently coming back to retest that level with the current daily candle. H4 PA is showing similar structure as the daily level was previously broken and retested before dropping almost 200 pips. PA is strong bullish at the moment on H4 but is running up against the daily level. M15 just broke this daily level as well as the M15 +2 level, so bullish momentum is strong.