The lack of economic data today and for the majority of this week had the markets in much more of a consolidation mode. However we had both long and short Doms in our GBP pairs and good points were had in both directions but on lower volumes and volatility. There is literally just one important UK item this week and that is Manufacturing on Friday, so don’t expect much momentum until a week on Tuesday when we kick off with Construction then Interest Rates a week on Thursday.
Thursday this week sees the only decent group of EU data so it looks like even the EUR/AUD and German Dax won’t be going very far either. Both instruments did very well though with excellent points available.
We had a maximum potential of 600 points on reduced volumes 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 60 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.
