The markets and especially the GBP seem to be in a state of ‘limbo,’ stuck between indecision regarding Brexit and coronavirus. Individual currency strengths themselves were lacking overall direction and this in turn is causing reduced momentum within our trends. The pound started the day ‘strong ish’ but was further boosted by positive UK data at 9.30am, eventually giving all our Dom long GBP pairs some very decent points.
Positive EU data put a spanner in the works of our Dom short EUR/AUD and although there were a few early trades, ICS Balance would have put this pair at the back of the queue.
The strengthening euro restricted overall gains in the Dom long Dax and that was despite positive-minus (actual below previous) German data, giving our usual manic though decent points.
Monday saw a decent maximum potential of 655 points from specific Max Day Trading time/price level entries within our five instruments from the UK morning session alone, with a minimum target of just 30.
A 10% target of this figure would have yielded 65 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.
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