Expecting some bullish pressure of the EURO.
Price made a bearish fall but ultimately respected the monthly trend line.
Price then formed a double bottom (which is a bullish candlestick pattern)
There was also bullish divergence confirming that price was ready to make a push to the upside.
I am looking to enter a long positon, once price make a retracement...
This week I am expecting some volatility in the market due to the fundamentals. On March 22&23 there is US news, where Fed Chair Powell will speak. This news heavily affects interest rates which can possibly make the USD stronger. There is similar news regarding the British pound on the 25th.
The higher a country's interest rate, the stronger their currency....
Price seems to have respected the downtrend channel by forming a bearish engulfing candle illustrated in orange.
Price could make yet another long drop toward the support trendline of the channel.
Best of luck!
