The EUR/USD climbed up above 1.09 after US CPI and Retail Sales data, which were better than prior numbers but slightly lower than forecasted. In our view this straength is not justified and could be temporary. Based on that we are keeping our SHORT in the EUR/USD. Neverthelss, it sould be noted that the EUR/USD has been met with a lot of buying, which makes this call riskier than anticipated.

Similarly, our trade in GBP/USD, which has a lower stop may not hold the USD weakness after the US Data release.

Overall, in retrospect, we should have stuck with fewer positions this week and will make sure to keep our exposure at lower levels in the future.

Open trades in EUR/NOK and USD/ZAR are also at risk.
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