Trading shifted to a more technical angle today, although fundamentals are still lurking in the background. Our individual currency strength indexes were themselves very non-directional so overall momentum within pairs was not expected. The GBP Index started off ‘weak ish’ and this continued throughout the day but we still had good trades in both our Dom Long and Short direction.
All AUD linked pairs suffered again from an initially ‘weak plus’ AUD Index at the UK open to strong into the US open. This played havoc with the EUR/AUD & GBP/AUD which were both Dom Long. The strengthening AUD drove the these prices down but not before some decent early trades in each. The beauty of all this? Expectation from the open!
The Dom Long German Dax remained fairly flat due to a strengthening EUR but again there were some very decent trades early on.
Today we managed a decent maximum potential of 545 points from specific Max Day Trading time/price level entries from the London morning session alone, with a target of just 30.
A 10% target of this figure would have yielded a minimum of 45 net points from specific Max Day Trading time/price level entries, with many additional opportunities in the US morning (UK afternoon) and US afternoon (UK evening) sessions.
