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USD, EUR, GBP: A Closer Look At Positioning - BofAML

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Peter

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Bank of America Merrill Lynch FX Strategy Research discusses the positioning in USD, EUR, and GBP, noticing mainly that as this year so far has been characterized by the 'Trump fade', positioning has been moving towards neutral levels across the board.

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Position trading is a long-term strategy principally centered around fundamental factors notwithstanding, technical strategies can be utilized, for example, Elliot Wave Theory. Littler more minor market changes are not considered right now they don't influence the more extensive market picture. This strategy can be utilized on all markets from stocks to forex. Position exchanges have a long-term viewpoint reserved for the more continuing on trader. Seeing how economic variables influence markets or exhaustive technical predispositions, is fundamental in forecasting exchange thoughts.
 


EURCAD today as we see here, the price just hit resistance area at 1.56337, so you can sell it now at 1.55799 with potential target up to 1.54409
 

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