I am still a bear on this pair as I have always been and with a number of fundamental news on both the EURO and USD , it will be an interesting week ahead.

EURUSD DAILY

New pivot points came out at market open on sunday and our pair opened at WM3 and indeed the bear jumped in and sold the EURO.

Source: 6-3-2017

EURUSD H4

Currently the price is sitting at WPP and our EMAs are pretty much flat at this point. We can also take note of the stochastic falling from overbought. Since the pair opened at WM3 the bears are targeting WS1 as their take profit .

Source: 6-3-2017

EURUSD H1

The price is currently sitting at confluence of DPP and WPP which can be seen as strong support area for bulls and it necessary for one to take note of that as , the bulls might buy the pair during the Asian session. A bear-biased-trader might wait for a break out of this support and pull a trigger at the pullback at WPP/DPP confluence (1.05800). Or rather if the bulls buy the pair at this support during the Asian session , one can sell the pair at WM3 (1.06160). Since I'm currently in the trade and my SL is at break even , I will let the trade run.

Source: 6-3-2017

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