Good morning traders.
More of the same yesterday as we expected and then a late in the day blast (by the euros standards) to clip the 1.14 and back off again. But it was too late for our model strategy so I´ll take it as no trades triggered.
Feds Powell deflated the US$ a little with his testimony which maybe gave the eurusd the boost but said nothing that could break the eurusd out of the range.
Brexit seems to be getting ever closer to an extension as PM May announced a series of 3 votes tabled for the 12th ,13th and 14th of March. I wont go into the detail as I´m sure you can easily read up on it but the upshot seems to be an extension of 2 months to the end of June.
Nothing came out re the US China talks yesterday.
For today we have Weidmann of the Bundesbank on the wires at 11.00 CET.
The Daily Chart
The 1.14 level is the mid point of the range. If we push up and close above this would help us to push higher to 1.15 and maybe beyond. If we close below again it suggests lower tests.
The Hourly Chart
Zones and levels as per.
The key for me today is whether we hold the S1 zone or break below and come back to retest it. Watch out for price action on the ltf charts.
Have a good one and lets hope we get some action a bit earlier today ;).