The main trend remains bearish, but in the short period of expect a technical rebound. On H4 chart we published last week, our ideas about eurusd, and when we maintain our view (bullish). We can not forget the important event by FED, next Wednesday.
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Pullback in play ?
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Hello Traders!! If the trend is really strong bullish, we could not see a deep retracement ...
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The March FOMC meeting will be held for two consecutive days from today. The interest rate decision will be announced at 18:00 GMT on Wednesday 15th March. 7 out 10 FOMC members, including the Fed doves Yellen and Brainard, made some hawkish comments lately. The US labour market data in February released last Friday outperformed expectations. Per the CME’s FedWatch tool: the current probability of a rate hike in March has jumped to a peak above 90%. We can expect that the Fed will announce two to three rate hikes this year. If the Fed does not adhere to raising rates they are highly likely to face a credibility issue.
Why u are seeing rinsing eurusd to 107900 when 90 % are for riising interes rates !!!
Victor.Y.F
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Thank you Sir! In this storm week speculators holding more net short before the wave comes, at mostly time they're wrong. Maybe they're right this time but it's good enough for the risk management.
Paul_K
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Interesting. But one have to carefully watch the speed of the market as it will be returning to the entry area. False breakout of the previous high of range is still in play.