The higher-timeframe picture resembles the following:
Weekly TF: Price is still frustratingly trading within a weekly consolidation area with the upper limits seen at 0.94600, and the lower at 0.92046, with no signs of a break happening just yet.
Daily TF: Buyers and sellers are currently trading within a medium-term range (0.92046-0.92354/0.93529). At the time of writing, the buyers are now seen putting pressure on the upper limits of this range, a break above could likely force prices to test the daily supply area at 0.94729-0.94175.
Clearly pro money was very active on this pair! Take a look at that vicious spike/wick seen consuming sellers (0.93024) around the round number 0.93 (and triggering in our P.A confirmation sell level at 0.92976) before takeoff, someone clearly wanted the path cleared above!
Minor selling interest is now coming into the market around the 4hr supply area at 0.93509-0.93370 (our pending sell order is now filled at 0.93341). Our first take-profit target is set at the round number 0.93, which at the time of writing should hit relatively easy since we see very little demand areas to stop it.
Pending/P.A confirmation levels:
• No pending buy orders (Green line) are seen in the current market environment.
• No P.A confirmation buy levels (Red line) are seen in the current market environment.
• The pending sell order (Green line) set just below a 4hr supply area (0.93509-0.93370) at 0.93341 is now active, so do keep an eye on our first take-profit target set at the round number 0.93.
• The P.A confirmation sell level (Red line) set just below the round number 0.93 at 0.92976 has been removed since price has traded too far above the entry level making this trade invalid for the time being.
• Areas to watch for buy orders: P.O: No pending buy orders are seen in the current market environment. P.A.C: No P.A confirmation levels are seen in the current market environment.
• Areas to watch for sell orders: P.O: 0.93341 (Active) SL: 0.93533 TP: 0.93 0.92785) P.A.C: No P.A confirmation sell levels are seen in the current market environment.