Fundamental Backdrop
1. Plenty of instability in the market due to the SVB crisis and other banks being heavily affected by it.
2. The Fed hiked rates by 25 bps
3. The Fed also cautioned about the recent banking crisis and indicated that hikes are nearing an end.
4. The Fed's move may indicate that the economy could be stronger and that the currency could weaken soon.
Technical Confluences
1. Price is currently in a bearish trend.
2. Well below the Ichimoku cloud, signifying bearish intent.
3. Next support at 101.800
Idea
Looking for the price to head towards the support at 101.800
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
1. Plenty of instability in the market due to the SVB crisis and other banks being heavily affected by it.
2. The Fed hiked rates by 25 bps
3. The Fed also cautioned about the recent banking crisis and indicated that hikes are nearing an end.
4. The Fed's move may indicate that the economy could be stronger and that the currency could weaken soon.
Technical Confluences
1. Price is currently in a bearish trend.
2. Well below the Ichimoku cloud, signifying bearish intent.
3. Next support at 101.800
Idea
Looking for the price to head towards the support at 101.800
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.