Daily Timeframe: The buyer’s energy is clearly shown on the , and for the time being are certainly not taking any prisoners. With that in mind, we believe this buying could indeed continue up to at least the daily supply area seen at 0.97505-0.96339, and as a consequence, this will bring prices deeper into the weekly supply area just mentioned above at 0.98378-0.95895.
4hr Timeframe: At the present time, the 4hr timeframe shows the 4hr demand flip area seen at 0.95452-0.95836 has been well and truly consumed. Assuming the majority of sellers were also taken out in the process, we can likely assume the path north is clear up to an area of stacked 4hr supply (0.97505-0.97153/0.97152-0.96744). We feel these levels will likely act as magnets to price, since both are sitting beautifully within not only weekly supply (0.98378-0.95895), but also very deep within daily supply (0.97505-0.96339) as well.
With all things considered, we have to be prepared for a reversal of some kind before the aforementioned 4hr stacked supply areas are (likely) hit. The area that sticks out to us as being obvious, and logical is the 4hr decision-point area sitting right on top of the 0.95 level seen at 0.94983-0.95157, where we feel there are active unfilled buy orders lurking just above, around the 0.95187 area.
On a side note, if anyone got in at the 0.95028 level, well done, price has really moved in our favor!
• Buy orders: 0.95187 (Predicative stop-loss orders seen at: 0.94847).
• Sell orders: N/A (Predicative stop-loss orders seen at: N/A).