Our forex strategists leaned with bullish USD sentiment this week, which was effective early on but ran into problems as traders likely took profits / reduced risk on USD longs ahead of the highly anticipated monthly U.S. employment update. On Monday, EUR/USD was back at the top of the watchlist with expectations of the U.S. likely to flex its muscles with their upcoming employment updates, and until the market significantly moved to upside to break the downtrend we leaned bearish on EUR/USD for the time being.