Forex USDTRY : Weekly demand imbalance lower at 4.62992
3rd August 2018
Forex GBPAUD : Weekly supply level is in control
7th August 2018

Dow Jones American index in a clear uptrend with new demand zones being created and respected. Price fell short of retracing to monthly demand level around 22144 price area after the strong correction that happened for three months.

Now the weekly timeframe is in a clear uptrend creating new weekly and daily demand zones. Daily demand level playing out from 25092 and lots of room to retrace to weekly supply imbalance around 26000. Long bias in a big picture uptrend.

Nasdaq, Russell 2000 and S&P500 indexes also have a clear long bias with new daily and weekly demand zones being created, both Nasdaq and Russell 2000 indexes have broken all time highs again, which is what is being expected on S&P500 and Dow Jones indexes.

Alfonso Moreno
Alfonso Moreno
Full time trader, expert technical analyst and founder of Set and Forget supply and demand online trading community. Traveler, photographer and adventurer.

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