Fundamentals dominated our GBP pairs again today but this was in contrast to the weak pound of last week. This was owing to an increasing risk of a no deal in trade negotiations with the EU leading up to Sundays deadline (yesterday). However during Sundays negotiations it was decided to extend (again) the deadline to try and avoid a no deal scenario. This resulted in a large spike, which gapped our charts North at the official open on Sunday night (GMT) and continued throughout the UK morning session, helping our technical long Doms.
The Dom short EUR/AUD again had a very poor ICS balance and this showed in the manic movements that occurred. There was also a conflict with the German Dax, which technically was still Dom short from Friday. EU trade talks lifted the price as expected and more in line with the Dom long US DOW30.
Monday saw a decent maximum potential of 685 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 68 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.
For the original postings at 6am of the above instruments, join out free Telegram channel; Trade Forex With MaxDayTrading. Full details below.
