EURUSD and GBPUSD at resistance: FXCOT trade copier doing well

World peace suffers again as North Korea may cancel US talks. The US - China trade deal may not happen. UK brexit lingers on with no end in sight. Things are becoming yucky.

Thankfully we do not need to double guess on where markets are headed esp our staple pairs. The FXCOT system is a dual direction price action based trading system which operates on 15 min and H1 time frames. Price BREAKOUT and Price pivots are used as key levels for trading. The performance between 2010 and 2019 has been so simply put, brilliant. The system has made more than 100% every single year as shown at end of the post. The current year is already up 52%.

EURUSD Strong resistance

The resistance is coming from 100 MA on the 4h timeframe. Multiple attempts have failed and now we could be seeing on last poke. But nothing is sure in world of forex. If prices move above 1.1350, we could see a sharp short covering rally to 1.1430.

GBPUSD Potential downside opening up

GBPUSD has formed a flag at the end of the rally from 1.3 to 1.3380. The flag width is 200 pips which suggests we could be at the tipping point. Flags are either continuation or reversal pattern. We could be setting for 500 pip rally in GBPUSD above 1.3380 OR we could setting for a fall to 1.29. Either ways this will be a good chance for swing players. The level on the downside is 1.32000 and loss of that level will mean big fall down.

USDJPY difficult terrain

USDJPY is in a uptrend but caution is advised as the move higher is not smooth. Lots of supply has kept the pair capped. We do not suggest to trade this pair. The upside target is 112.4 so not much. The downside looks open to 110.8 as well.

FXCOT Performance update

The performance of the system has been stellar. Its been a quiet week as not much activity in EURUSD either on breakout level or pivot moves. So its been a tight range between 1.12 and 1.13. The system has already mae +53% this year with March account for +8%.

All pairs are equally profitable which is sign of a great system. Risk management is implemented for each trade with no exposure beyond tolerable limits of the system.

If you want to start trading, please start your membership and fill the form and get verified.

Once verified, please send us an email at teamcot@fxcot.com and we will help you setting up the system

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