Franc & Euro

Discussion in 'Financial Futures' started by Liberty Market Investment, Mar 30, 2023.

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    From the first days of the June contract the EUR/USD pair was aiming for 1.1.
    Five days of steady momentum has not been seen for a long time on this instrument and those who followed the trend have clearly made money. But what happens now? Where is that stable trend?

    Several times a year, almost all civilized people, following their faith and supporting traditions, celebrate religious holidays. How these events affect the global economy is the subject of a separate article, and perhaps an entire report. But I recommend to reflect and estimate the scale of these processes.

    April 7 is Good Friday - until then, currency markets will trade lazily and with little enthusiasm.

    In the slides above, a grid of support and resistance levels for the euro and franc.
    I would like to point out that on the daily timeframe, an imbalance above 10k contracts with a 3% overshoot for the euro/dollar pair futures contract is a key signal and identifier of an important trading session. A reversal or a trend start was exactly what the outcome was.

    For the Franc, an imbalance above 1500 contracts with a 5 per cent buy/sell preponderance is an indication of a key trading session.

    The Euro - resistance at 1.0925 formed on the 23rd is a key range for those contemplating a sell trade.
    A break-down of this level will provide a good opportunity for a buy trade.

    Franc - resistance is at 1.108 and support is at 1.088. Green and red circles on the chart marked Big Trades. Note that big buying has dominated the last couple of days on the Frank.

    On both tickers - the total trading volume is down to average and below and until this figure increases. volatility and strong momentum will be lacking.

    VolFix Company / author & trader: Mikhail Lemah