On the monthly/weekly we can have a 50% retracement up to 1.1875.
On the daily, we are expecting to test the upper bound of the downward sloping channel since the beginning of 2019.
Downward sloping channel upper bound: 1.1393
.786 Fib from early March swing: 1.1366
Potential TP: 1.1265
Since the ECB on 20190307, we haven't retraced 50% of this 7 day crawl up. 100pips potential.
My BIG REGRET this time was selling the tranche that I got at 1.1180 very very very early at 1.1200, thinking that I could pick it up again right away, but it left me behind on this slow crawl up. Could have at least held it to 1.1280 mid channel.
Lots of data this coming week that may be the catalyst.
GMT+8
20190321 2am US FOMC Meeting Announcement, then EU leader's summit for the whole day.
20190321 830pm US Jobless Claims
20190322 5pm EZ: PMI Flash
20190322 10pm US Home Sales
On the daily, we are expecting to test the upper bound of the downward sloping channel since the beginning of 2019.
Downward sloping channel upper bound: 1.1393
.786 Fib from early March swing: 1.1366
Potential TP: 1.1265
Since the ECB on 20190307, we haven't retraced 50% of this 7 day crawl up. 100pips potential.
My BIG REGRET this time was selling the tranche that I got at 1.1180 very very very early at 1.1200, thinking that I could pick it up again right away, but it left me behind on this slow crawl up. Could have at least held it to 1.1280 mid channel.
Lots of data this coming week that may be the catalyst.
GMT+8
20190321 2am US FOMC Meeting Announcement, then EU leader's summit for the whole day.
20190321 830pm US Jobless Claims
20190322 5pm EZ: PMI Flash
20190322 10pm US Home Sales