The first week of March, on average, kicks off some bullish movement for EURUSD, GBPUSD, NZDUSD, and the equity indices (Dow Jones, SPX500, NAS100).

 

I believe a lot of this has to do with the March OPEX and FED related news. March monthly OPEX is next Friday, which is right where the top of that relative peak in the SPX500 profile is. I believe we are headed for the 78.6% retracement from the all time high to the February low, which is about 2803.

It just so happens that there is a large amount of open interest call options precisely at the 2800 level expiring next Friday (March 16th).