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Hypos 13th March

Now that NFP is out the way, we should hopefully see some clear direction this week, although there is a lot of red folder news to watch out for.

GBP Futures (6b, June)

A hard rally on Friday has pushed GBP back into interesting levels of supply, however now that 1.1850 has been met, its questionable whether supply will hold for another bearish move. Ideally I would prefer to see one last bearish move before medium term strength coming into the market therefore as long as shorter term (daily/ intraday) supply holds, I will look for short positions.

VWAP Angle: -7 (bearish)

Line in the sand for shorts: AM naked POC (1.2135)

GBP AM session profile

GBP Daily Profile

GBPUSD Candlestick chart

Euro Futures (6E, June)

Euro selling off this morning just shy of the naked POC, for the meantime the morning charts not showing us any real interesting levels to sell from, however any short term rallies could be seen as selling opportunities back into VAL.

EURO - Daily Profile

As per AMT (auction market theory) we can expect a continuation in prices as long as we are trading above the value area from yesterday. If we cannot hold support marked in the candlestick chart below, we can expect to see a deeper pullback.

EURUSD candlestick chart

Looking for a potential short opportunity, its possible the London high will be taken for some structure manipulation before selling off deeper into demand.


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