EA & EJ Fall From Supply

This week the focus is on the euro again. There are a couple of pairs that are at levels I've mentioned already so we'll see how price reacts.

EURAUD

2 weeks ago I highlighted a daily supply level on the daily chart on EA. If you missed it, you can see the post here. Last week price reached the level and turned. It could still go much further so it's definitely on the watchlist for this week.

2017-08-06 EA Short D1

EURJPY

EJ is the other main pair at a key level. If you look back at one of the posts I wrote a few weeks back, you'll see a supply level I've had marked up for quite some time. You can find it here.

Last week price returned to it and fell away. It could still go further so I'm watching out for that.

2017-08-06 EJ Short D1 v01

2017-08-06 EJ Short D1 v02

2017-08-06 EJ Short D1 v03

For those who of you who have been members long enough to remember, we traded from this zone in February last year. We made a tidy profit though price did go on to fall much further. We'll see what happens this time around.

 

Whilst we're talking about previous levels, did you see what happened to GU last week?

Go check the charts, then check back here where I highlighted supply.

Video

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