Ivan Delgado
Independent Analyst
Simplified Supply Demand Table
The table below includes updated supply/demand levels on the major currency pairs. The table is updated on a daily basis after the NY close. The levels will help trading decisions for intraday, swing and positions traders.
**RBR = Rally-base-rally
**RBD = Rally-base-drop
**DBD= Drop-base-drop
**DBR= Drop-base-rally
** Refer to footnote for further information on supply/demand analysis
Supply Demand Charts and Analysis
Below readers can graphically identify supply and demand areas registered in our daily supply/demand table above. A brief comment on the outlook has also been added.
1 - USD INDEX (watch LIVE chart)
Risk is still skewed to the downside, with the next target found at 80.50-80.80, where solid bids are expected to resurface. On the upside, there is room to appreciate too until imbalance in favur of sellers is found.
2 - EURO
The pair finds itself in equilibrium between supply and demand. Since the trend remains up, the risk is for a test of 1.3390-1.3415 before sellers regain control. Watch for strong volatility today, with wild swings either side subject to FOMC, US GDP outcomes.
3 - BRITISH POUND
Pair collapsed through proven demand, despite warning it had been partly absorbed on July 25, allowing now much further room to fall.
4 - JAPANESE YEN
The pair looks set to test to weaken further after absorbing area of demand at 98.00+.
5 - AUSTRALIAN DOLLAR
Risk increases for an eventual break lower from the present range. Until that happens, any bounce approaching 0.93 is seen as selling opportunity.
Good luck everyone!
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