The higher picture resembles the following:
• The shows price is consolidating at the moment (0.94600/0.92046) with a break out 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.
The sellers have indeed dropped price relatively hard as reported may happen in the last analysis. This selling should not effectively stop yet as the path is seen quite clear down until at least 4hr demand at 0.93208-0.93417.
Buyers and sellers are presently seen battling it out around the lows 0.93601, with the sellers likely coming out victorious. action is however being seen at the moment, and this will only probably last up till the minor S.R flip level at 0.93765, before sellers slam it in to 4hr demand below at 0.93208-0.93417.
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 first take-profit target has been hit at 0.93678, so do keep an eye on our second target seen within 4hr demand below (0.93208-0.93417) at 0.93360, which should be hit soon.
• 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-1st 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.