The markets seem to have little direction at the moment and this is reflecting in very low volatility in our currency pairs. There was high volatility UK data at 9.30am which saw a decent pre-news selloff before the announcement. This bode well for our Dom Short GBP/AUD with some good early trades. Our Dom Long GBP/JPY & GBP/USD saw a counter-trend up to the announcement but there was no real spike from lower levels on positive Construction data.
The Dom Short EUR/AUD did well in early trading but positive EU Retail Sales data at 10am strengthened the euro from mid-morning. Todays data failed to ‘stir the pot’ or give us any additional volatility.
The Dom Long German Dax briefly suffered on early negative German Factory Orders data. However the outcome may have been below expectations but was way higher than previous and this helped the price up to the US open.
Today we managed another decent maximum potential of 635 points on lower currency volatility from specific Max Day Trading time/price level entries from the UK morning session, with a minimum target of just 30.
A 10% target of this figure would have yielded 63 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.
