Entry Date :- March 19th. [What I expect to happen, and then later in the day compare to what I thought to what actually happened.]
Fundamental Analysis:- The fundamentals still point to a lower EURO. The Fed's have not taken rate hike off the table. But Instead of 4 hikes this year, there will be only two. Rate hike in June is highly unlikely. So expected rate hike will be in September.
Even in the short term any up rally is considered a good option to short so it is highly unlikely that the pair will attain levels of 1.1180 (at least not without stronger date to support so).
Sentiment Analysis :- Pull back was expected due to oversold status and exaggerated down rally.
Daily Opening Price :- 1.1820
High till now :- 1.1919
Yesterday's high :- 1.1041
Yesterdays low :- 1.0580
Fibonacci Levels from 1.1041 to 1.0580 :-
Retracement :-
23.6% :- 1.0932
38.2% :- 1.0865
50% :- 1.0811
61.8% :- 1.0756
76.4% :- 1.0689
Extensions :-
61.8% :- 1.1326
100% :- 1.1502
Pivot Levels :- 1.0881 (H) ; 1.0874 (4H) : 1.0823 (D)
Open orders / Stop Loss / Take Profit :- Massive pending orders at 1.0800
Open Positions :- Massive long from 1.0600 0 1.0650 area. Also massive short positions from 1.0500-1.0680 area.
Since there are no significant stop loss in the vicinity of 1.0800 - 1.0950 area , The price should move lower during the day.
Trade ideas :- Sell Limit :- 1.0930, 1.0950, 1.1040 stops above 1.1120 Take Profit 1.0750
Since there are no significant data in the coming dates that might lead to major buy of the EURO, I expect the trading range for the week to be 1.1180 - 1.0680
Fundamental Analysis:- The fundamentals still point to a lower EURO. The Fed's have not taken rate hike off the table. But Instead of 4 hikes this year, there will be only two. Rate hike in June is highly unlikely. So expected rate hike will be in September.
Even in the short term any up rally is considered a good option to short so it is highly unlikely that the pair will attain levels of 1.1180 (at least not without stronger date to support so).
Sentiment Analysis :- Pull back was expected due to oversold status and exaggerated down rally.
Daily Opening Price :- 1.1820
High till now :- 1.1919
Yesterday's high :- 1.1041
Yesterdays low :- 1.0580
Fibonacci Levels from 1.1041 to 1.0580 :-
Retracement :-
23.6% :- 1.0932
38.2% :- 1.0865
50% :- 1.0811
61.8% :- 1.0756
76.4% :- 1.0689
Extensions :-
61.8% :- 1.1326
100% :- 1.1502
Pivot Levels :- 1.0881 (H) ; 1.0874 (4H) : 1.0823 (D)
Open orders / Stop Loss / Take Profit :- Massive pending orders at 1.0800
Open Positions :- Massive long from 1.0600 0 1.0650 area. Also massive short positions from 1.0500-1.0680 area.
Since there are no significant stop loss in the vicinity of 1.0800 - 1.0950 area , The price should move lower during the day.
Trade ideas :- Sell Limit :- 1.0930, 1.0950, 1.1040 stops above 1.1120 Take Profit 1.0750
Since there are no significant data in the coming dates that might lead to major buy of the EURO, I expect the trading range for the week to be 1.1180 - 1.0680
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