Analysis of EUR/USD and GBP/USD on March 3. The Euro Began to Decline Without Waiting for Inflation to exit. Markets are Waiting for the Results of the G7 Meeting
On March 2, the EUR / USD pair added another 110 basis points and, therefore, continued to build the rising wave 1 as part of a new trend section. The unsuccessful attempt to break through the 127.2% Fibonacci level suggests the readiness of the euro / dollar instrument to build a bearish correctional wave 2.
Jeff Wecker