The pound took another roller-coaster ride today as EU trade negotiations continue with both positive and negative tones. The euphoria from yesterday didn’t last long, with the GBP index starting the day as flat minus. Even positive UK data at 7am did little to lift the pound until more positive tones filtered through from the trade talks by mid morning.
There was a better ICS Balance within the Dom long EUR/AUD but momentum was still fairly poor. Even the Dom long German Dax didn’t yield the big points as it usually does, confirming that the markets are still in consolidation mode until something solid happens regarding a deal or no deal. Either way will see a big jump in volatility.
Tuesday saw a decent maximum potential of 730 points from specific Max Day Trading time/trend entries within our five instruments from the UK morning session alone, with a minimum target of just 30.
A TEN PERCENT target of this figure would have yielded 73 net points from specific Max Day Trading time/trend entries, with many additional opportunities in the US morning (UK afternoon) and US afternoon (UK evening) sessions.
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