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Hypo 16th March

Updated: Mar 18, 2023

GBP Futures (6B, June)

After finding a base yesterday afternoon, GBP is auctioning higher this morning and doesn't really have any important levels above for quite some time. The AM naked POC aligns the daily POC which is in sight in alignment with AMT (auction market theory). On the candlestick chart in fig.3, you will see the supply zone around 1.2110 that could stall price, however given the lack of resistance in the profile, it could quite easily break.

VWAP angle: +54degrees (bullish)

AM session profile (fig.1)

GBP Daily Profile (fig.2)

GBPUSD candlestick chart (fig.3)

The current supple zone is in alignment with +2SD and monthly VWAP, therefore a short position would be warranted on a lower probability basis as it is not supported by any interesting levels on the profile.

EURO Futures (6E, June)

We have reached a turning point in Euro this morning at yesterdays AM VAL aligned with an edge of ledge on the daily profile. IF we can hold this area at the London high, then we can expect further downside as per AMT. A break through back into yesterdays Value Area, expect higher prices.

AM session profile (fig.1)

Daily Profile (fig.2)

Euro Renko; note that the market will have to clear VWAP if we are to break lower back towards -2SD level and continue onward

EURUSD candlestick chart (fig.3)


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