4hr TF.
The higher-timeframe picture resembles the following:
• Weekly TF: A close above the weekly decision-point level at 0.90927 has been seen (keep an eye on a possible retest of this level as support). Any sellers around this area have now very likely been stopped out, and on this timeframe the path north appears to be clear up to around the weekly supply area at 0.94546-0.93081.
• Daily TF: Price has broken above the daily supply area at 0.91556-0.90985. Looking to the left of current price, there is nothing but ‘wicky’ price action indicating supply consumption i.e. no sellers left up to around the daily supply area at 0.94546-0.93448, however before this happens we must be prepared for a decline in value down to at least the daily S/D flip area at 0.90372-0.90042.
Our first target (0.91429) has been hit from our short position (0.91637) set just the 4hr supply area at 0.91892-0.91668. Right now price seems to be temporarily capped between this 4hr supply area and a minor 4hr R/S flip level at 0.91429. If a break below the minor 4hr R/S flip level is seen, a move down to the 4hr demand area at 0.91025-0.91177 is highly likely to happen. Conversely a break above the 4hr supply area could see price testing the round number level 0.92 just above. So, for the time being, it’s a waiting game on this pair.
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.
• No P.A confirmation sell levels (Red line) are seen in the current market environment.
• The pending sell order (Green line) set just below 4hr supply (0.91892-0.91668) at 0.91637 is now active. Our first take-profit target has been hit at 0.91429, so do keep an eye on our second take-profit level set at 0.91177.
• 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 buy levels are seen in the current market environment.
• Areas to watch for sell orders: P.O: 0.91637 (Active) SL: 0.91941 TP: 0.91429 0.91177 ) P.A.C: No P.A confirmation sell levels are seen in the current market environment.
The higher-timeframe picture resembles the following:
• Weekly TF: A close above the weekly decision-point level at 0.90927 has been seen (keep an eye on a possible retest of this level as support). Any sellers around this area have now very likely been stopped out, and on this timeframe the path north appears to be clear up to around the weekly supply area at 0.94546-0.93081.
• Daily TF: Price has broken above the daily supply area at 0.91556-0.90985. Looking to the left of current price, there is nothing but ‘wicky’ price action indicating supply consumption i.e. no sellers left up to around the daily supply area at 0.94546-0.93448, however before this happens we must be prepared for a decline in value down to at least the daily S/D flip area at 0.90372-0.90042.
Our first target (0.91429) has been hit from our short position (0.91637) set just the 4hr supply area at 0.91892-0.91668. Right now price seems to be temporarily capped between this 4hr supply area and a minor 4hr R/S flip level at 0.91429. If a break below the minor 4hr R/S flip level is seen, a move down to the 4hr demand area at 0.91025-0.91177 is highly likely to happen. Conversely a break above the 4hr supply area could see price testing the round number level 0.92 just above. So, for the time being, it’s a waiting game on this pair.
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.
• No P.A confirmation sell levels (Red line) are seen in the current market environment.
• The pending sell order (Green line) set just below 4hr supply (0.91892-0.91668) at 0.91637 is now active. Our first take-profit target has been hit at 0.91429, so do keep an eye on our second take-profit level set at 0.91177.
• 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 buy levels are seen in the current market environment.
• Areas to watch for sell orders: P.O: 0.91637 (Active) SL: 0.91941 TP: 0.91429 0.91177 ) P.A.C: No P.A confirmation sell levels are seen in the current market environment.
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