4hr Timeframe: The important 4hr decision-point level at 1.29580 has been consumed by a fraction of a pip, marked with a blue arrow at 1.29617. This could likely be a signal pro money are taking prices higher, well, at least to the next area of interest, which seems to be the huge psychological number 1.3. Do bear
in mind this is only our opinion, we know of some traders who would want to see the 1.3 level consumed before looking for longs, it’s all about personal preference! We have set a new pending buy order just within the combined 4hr supply flip/round number area (1.28970-1.28590/1.29) at 1.28936 which was recently filled. Our first-take profit target for this trade is set just below the 1.3 level at 1.29839.
Pending orders/Price action
• Areas to watch for buy orders: Pending orders: 1.28936 (Stop loss: 1.28437 Take profit level(s): 1.29839 ). Price action
confirmation levels: No price action
confirmation buy levels are seen in the current market environment.
• Areas to watch for sell orders: Pending orders: No pending sell orders are seen in the current market environment. Price action
confirmation levels: 1.29950 (Stop loss: Dependent on price action
after the level has been confirmed, Take profit levels(s): Dependent on approaching price action
after the level has been confirmed).