The pound continues to be put under pressure with 2 out of 3 of our GBP pairs being Dom short on a weak GBP Index. The counter to this was the GBP/AUD on an even weaker AUD Index, with all giving reasonable points in their technical directions. There was also UK data to consider with a high volatility rated speech from the BOE at 8.30am, a medium rated BOE speech at 9.20am and medium volatility Industrial Trends Orders at 11am which ended up negative. The slight strengthening in the pound in early trading gave the impression of a ‘Hawkish’ theme to the speeches.
There was no morning data for the euro but conflicting ICS Balances in the EUR/AUD (Weak -v- Weak Ish) had the price meandering but with still some good points at our usual times.
The Dom short German Dax remained close to the previous days low with some good trades available.
Tuesday saw a very decent maximum potential of 1,055 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 105 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.
For the original postings at 6am of the above instruments, join out free Telegram channel ‘Trade Forex With MaxDayTrading. Full details below.
