May and Juncker seem to put up a united front as they met again last night. But there was nothing new except saying things will sort out in the future. There is basically no solution yet and we are staring at a hard brexit 1st April. GBPUSD will possibly hit 1.2 if there is no deal specifics coming. We suggest clients to be trading with caution.
EURUSD : Last bounce
The first resistance to EURUSD is at 1.1260 which it seems to faltering as we speak. EURUSD is not enthused by deal talk.The next resistance is at 1.13. Either of them will cap the move and we will head back to 1.1130 in the coming days.
GBPUSD: Bounce a mirage
GBPUSD raced higher to 1.3280 over deal talk. We will need to watch over the next few hours if this was just a spike. If GBPUSD falls back below 1.12970 then there is definitelya no deal and GBPUSD is conclusively headed 1.2800.
USDJPY: Lot of work left
USDJPY s suggested last friday has simply taken support at 111.4. The move has been a bit deep to 110.75 but the trend is pointing higher. See how it is above the 100 MA of the 4H brown line. We think the chances of this moving back to 112 are greater than 50%. So be long.
FXCOT has been noticeably calmer this week. As currencies are moving against the main trend, fxcot has been mostly waiting at pivot breakout levels which have not been touched this week. You have the orders on your MT4 and you can notice the levels.
Summing performance: March has been very good. Over +9% return. There were two scalping GBPUSD Long trades taken and both closed in profits.
Latest trade was two scalps on GBPUSD longs taken at key levels as shown. Both hit targets and added small returns.
See last few trades history.
The month performance for 2019 is shown. March is turnig out to be a decent month. First three months of this year has made good money for all.