EURUSD: week from 7 to 11 March
Updated
Hi everybody,
very simple!
Monday & Tuesday the price accumulated support thanks to Zalensky's comments made to ABC . The interview was aired in between these two days where the rounding line is. Whilst the three attacks to resistance that occured afterward find their explanation in Zalensky's comments, the attack unfolded before 12:00 on Monday is much harder to explain unless contents of his interview were leaked.
The pattern speaks for itself. Higher lows pushing into resistance from the distance inducing early buyers in while accumulating longs ready to be triggered. And the trigger was the AFP repackaging of the ABC interview which quoted President Volodymyr Zelensky saying "he is no longer pressing for NATO membership for Ukraine". The news triggered the breakout and the huge rally that unfolded on Wednesday after the two accumulation phases before midday.
Sellers were found at 1.11000 and again at 1.11200 in conjunction with the ECB meeting. Price dropped throughout Friday until Putin made some positive comments on peace negotiations which buyers took for a run that was quickly absorbed. The pair then closed the week just little below from where it started the week.
The end.
Cozzamara
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
very simple!
Monday & Tuesday the price accumulated support thanks to Zalensky's comments made to ABC . The interview was aired in between these two days where the rounding line is. Whilst the three attacks to resistance that occured afterward find their explanation in Zalensky's comments, the attack unfolded before 12:00 on Monday is much harder to explain unless contents of his interview were leaked.
The pattern speaks for itself. Higher lows pushing into resistance from the distance inducing early buyers in while accumulating longs ready to be triggered. And the trigger was the AFP repackaging of the ABC interview which quoted President Volodymyr Zelensky saying "he is no longer pressing for NATO membership for Ukraine". The news triggered the breakout and the huge rally that unfolded on Wednesday after the two accumulation phases before midday.
Sellers were found at 1.11000 and again at 1.11200 in conjunction with the ECB meeting. Price dropped throughout Friday until Putin made some positive comments on peace negotiations which buyers took for a run that was quickly absorbed. The pair then closed the week just little below from where it started the week.
The end.
Cozzamara
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
Note
Here how it looks on the daily chart (red arrow Monday) Note
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Disclaimer
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