Weekly Forex Supply and Demand Outlook 2014-10-05

EURJPY - Long

Price has been falling nice and after a short opportunity from last week, I'm now looking for a long. This is the same demand I marked up a while ago but price still hasn't hit it yet. Since it seems to be falling nicely, it's still on the watchlist. We may even see more shorts before price hits demand. Time will tell.

A28 image 1 EJ Daily

 

GBPCAD - Short

Price has dropped from GC but the arrival didn't look great with a demand level just below it so no shorts so far. If price breaks the demand level then I'll be looking for shorts as there is profit potential below signified by pure green candles.

A28 image 2 GC Daily

GBPJPY - Long

GJ has hit the demand I talked about last week and has already produced a bounce. With a nice looking arrival and great profit potential, this is definitely one to watch this week.

A28 image 3 GJ Daily

GBPUSD

GU is also approaching demand and so far is been falling in a nice way indicating profit for the taking. If price continues to fall as it has been, then we may be on for longs. Observe price action this week to find out.

Video Analysis

Check out the video which also details the above:

Happy trading

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