We can Observe that After the 1st Quarter of the Year, January-March the price of Eurusd has increased. Now As we near the middle of the second quarter, I can't help but visualize a Breakout.
Price is currently sitting at 1.102. So far price has respected the Weekly Level at 1.106. The High for the first quarter was 1.103. We have now spent quite a bit of time at these extreme prices. I can often observe price using News//Data Releases on Lower time frames as a boost. A Boost of momentum in the preceding direction.
I can observe 3 Potential News//Data Releases causing and becoming a Catalyst to leave a Large Trading Range.
1. NFP
2. CPI
3. FOMC Interest Rates.
Will FOMC provide the Volume?
Do we have enough Liquidity?
Or may price dip from here back to our 1.086 Weekly S/R Zone before increasing any further?
My Bias is Bullish moving into FOMC. Safe Trading Everyone.
Not Financial Advice. Educational Purposes Only.