Fundamentals, poor ICS Balances and low volumes are playing havoc with our currency pairs at the moment. Non official data relating to coronavirus economic recovery and a possible vaccine greatly lifted the initial ‘weak plus’ GBP strength index, putting a spanner in the works of our Dom Short GBP/JPY & GBP/AUD. Regardless there were still one or two early trades each before the rot set in. Our Dom Long GBP/USD did very well from this and we saw some very good points, even on very low volumes.
Again, the Dom Long EUR/AUD behaved very well but we are suffering from an overbought euro and profit taking was evident in the run up to the US open.
The Dom Long German Dax was its usual outlandish self with some huge trends and counter trends from the announcement of ‘negative plus’ German data at 7am.
Despite all this, we saw another decent maximum potential of 575 points from specific Max Day Trading time/price level entries from the UK morning session alone, with a minimum target of just 30.
A 10% target of this figure would have yielded 57 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.
