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Hypo 15th March

Updated: Mar 19, 2023

EURO Futures (6e, June)

As per AMT (auction market theory), Euro has found a base as yesterdays VAH and high VOL node and as such could find a rally into the London open off this level. However looking at the AM session profile (fig 1), we can see a naked POC that will likely act as clear resistance upon and bounce.

VWAP ANGLE: -1 (Neutral)

Line in the sand for short: 1.0760

Am Session Profile (fig 1)

Daily Profile (fig.2)

EURUSD Candlestick chart

Trade highlight is just an idea, as always confirm with footprint and order flow

GBP Futures (6B, June)

GBP is facing strong support this morning which limits any short bias until it has broken. Note we have the annual budget on the Pound today therefore may not see the 'real' move occur until this afternoon. However, as long as support is holding, the short term indications are to the upside upon London open.

VWAP Angle: -39 (bearish)

Line in the sand for longs: 1.2130

GBP AM session profile

GBP daily profile

GBPUSD candlestick chart

Ideally support will hold for early morning longs, clearing out early sellers before the annual budget (that's not to say that it will be bearish definitely) however, technically speaking there is justification for a move as such.

Notes: miscorrelation between EURO / Pound this morning, with key levels being on different sides of the market, its likely one of them will give. Euro has clear liquidity to take to the downside which brings GBP support into question.


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