EURUSD Potential Forecast | 15th March 2023
Fundamental Backdrop
1. Market sentiments has shifted bearish for the USD
2. EURUSD has more room to continue bullish
3. Market is leaning towards a 25bps rate hike but FOMC may still hike by 50bps considering the minimal slow down in CPI yesterday.
Technical Confluences
1. Price recently bounced off the H4 support level at 1.06903 and we can potentially see bullish continuations from there.
2. Bullish pressure is waning, a retracement can occur for the bulls to continue heading up.
3. Market structure has shifted bullish.
Idea
If price closes below 1.069, that would be a good area to look for longs position on the lower timeframe. Ultimately, anticipating EURUSD to continue bullish.
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. Market sentiments has shifted bearish for the USD
2. EURUSD has more room to continue bullish
3. Market is leaning towards a 25bps rate hike but FOMC may still hike by 50bps considering the minimal slow down in CPI yesterday.
Technical Confluences
1. Price recently bounced off the H4 support level at 1.06903 and we can potentially see bullish continuations from there.
2. Bullish pressure is waning, a retracement can occur for the bulls to continue heading up.
3. Market structure has shifted bullish.
Idea
If price closes below 1.069, that would be a good area to look for longs position on the lower timeframe. Ultimately, anticipating EURUSD to continue bullish.
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.
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