Forex Weekly Report 02-03-2020

 

EURUSD – POSSIBLE BOTTOM

Euro is one of the assets with fewer cot signals triggered, but when we have one is very reliable. The signal that was triggered is based on the cot index and last time we saw a similar signal was on 10/04/2018, triggering a possible top in the markets.

Last Time signal was triggered

All Past Signals

Trading Plan

As long EURUSD holds above the 1.077 we can see a nice and smooth ride to 1.17 region. I took a trade at 1.11280, as you can see in the picture, I will add more as the price is going in our favor

COCOA – OPEN INTEREST SELL SIGNAL

Cocoa with the biggest big speculators’ open interest ever! I am adding a new short position and moved stops to break-even.

Trading Plan

We are already holding positions on COCOA and today I added an extra one.

usdjpy | ULTRA 10-YEAR U.S. T-notes – POSSIBLE BOTTOm

Let’s call this obscene. The commercial net position change on ULTRA, !TN. This instrument has a negative correlation with USDJPY. Giving an extra look I found that they are also cointegrating, meaning that the guard a long-term relationship among them.

So I plotted the following chart TN1 – USDJPY, and as you can see the bottom for USDJPY was spotted with great accuracy. My plan stays vigilant and the first recovering signal of markets builds a long UJ position.

 

COPPER – Buy Signal

This is called Uptrend Resumption and it’s a very strong signal. Let’s see on the charts the last time it triggered. The previous signal was the Downtrend Resumption, it’s the same logic, but for shorts.

As long copper holds 2.4890 we have space to move to 2.6995.

 

Soybean OIL – UpTrend resumption signal

Commercials did a spectacular job, taking profits on short positions and changing bias to the upside. It’s a little bit premature to open a position right now, but the signal is here. Let’s monitor this one and at the first signal of strength, we must buy it. TradingView Charts

That’s all for today, my friends. I hope you all have a great week and we can make some profits.

Best regards.

Leo Hermoso

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