The higher-timeframe picture resembles the following:
• Weekly TF: Price is still seen in a consolidation with the upper limits at 0.94600 and the lower around the 0.92046 area. The sellers have recently pushed price south, as a result price is now trading around the aforementioned lower limits, could we see a close below this week? Things would get interesting then, as this could likely force a push down to around the weekly at 0.89134.
• Daily TF: A beautiful to-the-pip reaction happened around daily demand at 0.92046-0.92354. This is a very important area, one which if a positive daily close below is seen would effectively mean price has broken out of the weekly consolidation area as well (for levels, see above), and lower prices would then be expected down to at least the daily R/S flip level below at 0.91323.
The market opened at 0.92741, the buyers pushed price above the high 0.92815 for a second time, only for the sellers to slam price back down again. Most of the sellers are likely now consumed around the aforementioned high, so the path north is likely clear up to at least the round number 0.93. However before this happens, pro money may sell price back down to the 4hr decision-point level at 0.92384, this will do two things, 1. Stop out any traders who were originally long, and have no doubt set their stops at breakeven now, and 2. Give pro money more liquidity for a further push up. So any sellers already short may want to consider exiting around the aforementioned 4hr decision-point level below, likewise any traders long should have taken some partial profits around the 0.92815 level, so the best bet now is to hold tight, and watch to see if any active buyers are still around the aforementioned 4hr decision-point level.
Pending/P.A confirmation orders:
• The pending buy order (Green line) set just above the 4hr decision-point level (0.92384) at 0.92417 is now active. Our first take-profit level has already been hit at 0.92815, so do keep an eye on our second take-profit level set at the round number 0.93.
• No P.A confirmation buy orders (Red line) are seen in the current environment.
• No pending sell orders (Green line) are seen in the current environment.
• No P.A confirmation sell orders (Red line) are seen in the current market environment.
• Areas to watch for buy orders: P.O: 0.92417 (Active) (SL: 0.92228 TP: 0.92815 0.93 0.93728). P.A.C: No P.A confirmation buy orders seen in the current market environment.
• Areas to watch for sell orders: P.O: No pending sell orders seen in the current market environment. P.A.C: No P.A confirmation sell orders seen in the current market environment.