I'm not sure about everyone else but I wasn't expected ECB not to upgrade their QE program from 60B euro to at least 75B euros. This was a big disappointment even for the market itself as the build up in expectation ahead of the meeting was quite huge. Based on the latest COT report the net speculative short position ahead of the meeting where as high as they where in March when again happened to get a swing low. It never chase to amaze me how accurate this can be use as an contrarian indicator, however because other major forces can be at work like the monetary policy drivers I was expecting to see a break below March low before any meaningful rally.

The only good thing is that I only had short euro exposure through EUR/JPY which I still managed to close in profit as I was smart enough to move my SL and protect the gains I've made. For today's NFP I don't have any positions and I think I'll stay flat for the rest of the week. There will be plenty of other opportunity in the coming weeks to achieve my goals.

Wish you all good trading.

Best Regards,
Daytrader21
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