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)
As underscored in previous reports, risk is still skewed to the downside, with next target found at 80.50-80.80.
2 - EURO
Trend is up, an risk is for a test of 1.3390-1.3415 before sellers regain control.
3 - BRITISH POUND
Pair collapsed through demand, and unsurprisingly, that zone has become now a level of selling interest.
4 - JAPANESE YEN
After breaking through demand at 98.15-45, the Yen has found sellers on a retest of that area, suggesting that more downside might be expected.
5 - AUSTRALIAN DOLLAR
As predicted, when stating "risk increases for an eventual break lower from the present range", the Aussie deterioration has manifested. With new supply created just above 0.90 round number, chances are that the Aussie gets pounded further.
Good luck everyone!
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
EUR/USD clings to gains above 1.0750 after US data
EUR/USD manages to hold in positive territory above 1.0750 despite retreating from the fresh multi-week high it set above 1.0800 earlier in the day. The US Dollar struggles to find demand following the weaker-than-expected NFP data.
GBP/USD declines below 1.2550 following NFP-inspired upsurge
GBP/USD struggles to preserve its bullish momentum and trades below 1.2550 in the American session. Earlier in the day, the disappointing April jobs report from the US triggered a USD selloff and allowed the pair to reach multi-week highs above 1.2600.
Gold struggles to hold above $2,300 despite falling US yields
Gold stays on the back foot below $2,300 in the American session on Friday. The benchmark 10-year US Treasury bond yield stays in negative territory below 4.6% after weak US data but the improving risk mood doesn't allow XAU/USD to gain traction.
Bitcoin Weekly Forecast: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.
Week ahead – BoE and RBA decisions headline a calm week
Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.