Previous day's summary
We see that the price have stalled on the first support at 1.08275 after it was hit yesterday 4 times by the H4 candles.
None of those H4 candles could not close below that level which tells us that the level is not so easy to break down.
The price shows the fight between bulls and bears. First H4 candle after 08:00h AM have shown indecision between bulls and bears which have stretched over to the next H4 time frame.
As I have pointed yesterday that the price in bullish scenario could make pullback from 1.08725 to the confluence level, the price have done that. After indecision, bulls have tried to make their way up and they have succeeded to reach 1.08797 which was the high on the previous day where none of the H4 candles could not close above that level.
That level was to hard to break and price has been pushed down to short term support at 1.08508 and for now the price is waiting to make a move.
Today's Forecast
For now we have H4 inside bar and we need to wait until it breaks out.
(Click on image to enlarge)
From the 1.08508 level we have two areas. Area from 1.08508 to confluence level, a range from 1.08920-1.09028, and area from 1.08508 to short term support at 1.08275.
Until the price break up above confluence level or break down below support we should wait opening any order because the direction of the price is not clear.
When the H4 candle close in any direction but below or above those area or create price action next to those levels we can plan for the next move.
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