Entry Date :- March 19th. [ what actually happened.]
Opening Price :- 1.0820
High of the day :- 1.0919
Low of the day :- 1.0612
Close of the day :-
Max Pip Movement :- 307 pips
This was the highest retrace ever since the downfall started from the price of 1.3993 on the pair. The upward movement after the FOMC statement broke through all the stop loss levels pushing the pair higher. All those who had long positions at the top closed their trades to enter a short position. The longs from the lower levels took profit and all these combined together to have a cascading effect on the pair.
Since both the fundamentals and the sentiment support a weaker Euro, the down trend is intact. However it will be more sensitive to US data as rate hikes depend on it.
Opening Price :- 1.0820
High of the day :- 1.0919
Low of the day :- 1.0612
Close of the day :-
Max Pip Movement :- 307 pips
This was the highest retrace ever since the downfall started from the price of 1.3993 on the pair. The upward movement after the FOMC statement broke through all the stop loss levels pushing the pair higher. All those who had long positions at the top closed their trades to enter a short position. The longs from the lower levels took profit and all these combined together to have a cascading effect on the pair.
Since both the fundamentals and the sentiment support a weaker Euro, the down trend is intact. However it will be more sensitive to US data as rate hikes depend on it.
No comments:
Post a Comment