EU Creates Demand, EJ Hits Supply

As usual we have a number of different pairs to watch this week. One where price is already at the level and in most of the others we’re still playing the waiting game.

AUDNZD – Long/Short

An is still on the radar this week. We came to within 25 pips of supply last week before price turned away so we’ll see what happens this week.

2015-06-07 AN Short D1

CADJPY – Short

We’re heading back to a supply level I spotted a while ago but we didn’t get near it. We had a strong strong move up towards the end of the week so we could be see that level soon.

2015-06-07 CJ Short D1

EURGBP – Long

EG has produced another demand level and price is on the way back down so if it continues with the red candles I’ll be looking for a reversal.

2015-06-07 EG Long D1

EURJPY – Short

EJ hit a daily supply which is also a QM level and price has already made a move down. I’m looking for a big drop down so we’ll see if we get an entry.

2015-06-07 EJ Short D1

EURUSD – Long

EU formed a new supply level last week and price is already heading back down it with 2 candles so far. I’m watching for a bounce if it continues to the demand.

2015-06-07 EU Long D1

GBPJPY – Short

GJ is almost at a supply level formed back in 2008 so I’m watching for a reversal when it reaches.

2015-06-07 GJ Short D1

GBPUSD – Long

GU is getting closer to the demand we looked at last week so it’s still on the radar for a long.

2015-06-07 GU Long D1

USDCAD – Long

UC also has a demand level albeit a small one so I’m watching for a reaction here too.

2015-06-07 UC Long D1

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