Economic data, Brexit and coronavirus all played their part in todays technical Dom trading with counter trends and reversals throughout the morning. The pound started strong-ish but a high volatility rated Bank of England speech from 8.25am had dovish tones that weakened the GBP and put a halt to our Dom long pairs but not before some good early points at our usual times.
Negative German data boosted our Dom short EUR/AUD but had little effect on the Dax with some excellent points. However a news article mid morning regarding coronavirus infections and the economy spiked the index down for a short while before recovering up to the US open.
Thursday saw a reasonable maximum potential of 585 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 58 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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