The higher picture resembles the following:
• The shows price is consolidating at the moment (0.94600/0.92046) with a breakout yet to be seen.
• Buyers and sellers are currently seen trading in between daily supply at 0.95425-0.94852 and an important daily low below at 0.93208 where price is currently trading off of at the moment.
A decision was indeed made on this pair to rally prices higher form the 4hr demand area at 0.93208-0.93417. Buyers and sellers are currently seen battling it out around the minor 4hr S/R flip area at 0.93765. A break above this level is probably on the cards; however a small retracement down to around the 0.93609 area may be seen beforehand.
If a break above is seen, price is relatively clear up to the 4hr decision point level at 0.94408 as most of the sellers around the 4hr supply area (circled) at 0.93933 were more than likely consumed by wick seen at 0.93974 marked with an arrow. This only leaves the aforementioned 4hr decision-point level above, which is definitely an area to watch.
Pending/P.A confirmation orders:
• No pending buy orders (Green line) are seen in the current market environment.
• P.A confirmation buy orders (Red line) are seen just above the decision point level (0.92566-0.92736) at 0.92775. The reason for placing a P.A confirmation buy order here rather than pending buy order is simply because we were trading just above a daily demand ‘buy zone’ at 0.92046-0.92354, meaning pro money could very well just ignore this level completely and trade deeper into the aforementioned daily demand area, so, confirmation is the order of the day!
• Pending sell orders (Green line) are seen just below supply (0.95425-0.95096) at 0.95052. A pending sell order is placed here due to this being an area where pro money was interested in before; see how close price came to the supply area? (Levels above), this indicates possible strong supply (selling pressure), so the next time price visits we can expect some sort of reaction.
• The pending sell order (Green line) set just below the decision point level (0.94408) at 0.94382 is now active. Our second take-profit target has been hit at 0.93360, so do keep an eye on our third and final target seen just below at the round number 0.93000.
• No P.A confirmation sell orders (Red line) are seen in the current market environment.
• Areas to watch for buy orders: P.O: No pending buy orders seen in the current market environment. P.A.C: 0.92775 (SL: Dependent on price action after the level has been confirmed TP: Dependent on approaching price action after the level has been confirmed).
• Areas to watch for sell orders: P.O: 0.95052 (SL: 0.95467 TP: Depending on price approach) 0.94382 (Active-2nd target hit) (SL: 0.94677 TP: 0.93678 0.93360 0.93000. P.A.C: No P.A confirmation sell orders seen in the current market environment.