How Do We Make Money Today?
There wasn’t a huge amount of activity on the majors yesterday besides a few ‘flush outs’ both sides of the market.
Now that we’ve blown the cobwebs out after the FED meeting the currencies can continue on their recent trends. I see no reason for these to turn around until we get data that tells us otherwise.
We’ll be focusing on the AUD during the Asian session as it has a great upward trend going on at the moment.
Sterling will be a major focus with UK Manufacturing data scheduled. It’s a little loose at the moment so hopefully the data gives us clear direction.
There’s also potential for some action during the North American session with the weekly ‘Jobless Claims’ & ISM Manufacturing data due for release.
That’s it. I’m trading with the trend until I get something that tells me to do otherwise.
Trading Pairs to Focus On
AUDUSD & GBPUSD
Check our Next Best Trades list for full details as to why these pairs are in focus.
Today’s Fundamental Drivers
Plan the Trade, Trade the Plan!
The idea of our “Market Insight” is to give you some guidance into your daily preparation.
Your Daily Analysis needs to become habitual – For full guidance on our daily routine click here.
Make sure you don’t waste unnecessary time in front of the screens.
Remember you need to be fresh, confident and ready to trade and by sitting aimlessly in front of your screens you will become stale and uncertain.
The key to your sucess: Isolate the opportunities that work for you and focus on them.
Don’t worry about things that you can’t make…..chasing them will only cause problems (tiredness & irrational behaviour will take over).
Tune up your charts & get ready to trade…..see you in the 247 Trade Zone!