We had a good finish to the week with Friday playing out according to plan too. However, despite no changes to the long-term view, I would expect a more sustained retracement of recent moves.

The latest Commitment of Traders report shows that net short speculative positions in EURUSD futures have reached a new all-time high and I don’t like extremes…

Furthermore, considering this is a Monday, I would tend to go into the open with a very conservative strategy and a predominantly ‘wait and see’ attitude.

There will be plenty of opportunities out there, so no need to rush into trades > great week to all!