EURUSD Analysis

Due to the uptrend, the bias before NFP release was bullish. Already twice had the price tested the major support on 1.0825 level, and bounce back up. It shows that professional money isn’t interested in a down move so far. After testing, they markup the price and break 1.0925 level on Thursday.

EURUSD H1 Volumes

EURUSD H1 Volumes

And finally by using NFP as catalyst which is showing us strength on USD, shakeout candle happen with significantly volume increase. If we keep following the price until it reach to 1.1000 level, we can see there is ultra high volume when the price tried break that level. Why the volume appears as ultra high? No other reason because smart money has to absorb all the sell orders on that level and keep pushing the price up. For this week, most likely the smart money will continue to keep the bullish trend.


1 comment

Trader said:

March 9, 2016 at 9:16 am

Very smart and objective comments

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