EURUSD drove down 1.1177 on the back of ECB downgrade in GDP projections for EU area and the launch of TLRO which will see ECB at 0% to negative rates for banks to borrow and push EURO supply higher. This however was neutralised by a bad NFP report in the US where 20k jobs were added against an expectation of 180k jobs.
We look at the positioning as of today and update FXCOT trading system
EURUSD: Bearish Rebound
EURUSD fall below 1.13 and then 1.12 are all tell tale signs of a big move to 1.08. It oversold to 1.1177 and then rebound to 1.1250 today. We see more downside.
GBPUSD: A lot more downside left
GBPUSD touched the overbought zone at 1.3330 only for the second time in last 18 months. Since then it has fallen dramaticay to 1.2970. We see a test of 1.28 fairly soon.
USDJPY Takes Support
USDJPY broke confluence support at 111.4 and fell to NY lows 110.75. The rebound will test 111.4 underside. If it overcomes and moves to 111.6 then we could push to 112 this week.
A stable steady rising return profile all thru in 2019. Good risk management but also a rising performance.
All the pairs are doing well.
The equity is rising and above +53%. No real concern or major dd. Just steady business as usual.
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