Forex FOREX PRO WEEKLY, March 13 - 17, 2023

Morning guys,

It is a lot of fundamental events happening right now, and to be honest, I do not know how I put all this stuff in just single weekly report ;). One of our major strategical targets is achieved - Fed has capitulated, pumping back, just in one week 300 Bln, 60% of 9month QT efforts are reversed, bing. US Treasury cash balance has dropped for 175 Bln in a week. This is pure madness, guys. It has not been seen in a whole history.

On EUR, investors also are nervous. Supposedly 0.5% ECB action should provide confidence and support, but reaction was muted. Now, technically it starts looking like bearish dynamic pressure and chances that EUR still will hit our OP @1.0430 area increase.

Today, lets just focus on intraday patterns. Our B&B "Sell" yesterday has done well. Now, we could use upside AB-CD pattern that agrees with major 5/8 resistance. Potentially this is "222" Sell from 1.0665 area.

Finally, just minor update on our NZD setup - 4H H&S is started well: