Well Tuesday morning is here. We’ve had consistent bad USD data, although there could be a star on the horizon. GBP. On the daily chart GBPUSD/EURUSD are pretty much horizontal over the last couple of days, sentiment wise, 86% are buying GBPUSD which sounds like a good plan to me simply because GBP has been showing good data and USD bad.
I wonder if the heatwave will materialise financially today with some surprise figures. USD has been providing regular disappointment recently and I wonder if that may encourage Ben to do further QE.
Yesterday went well, I made good profits buying USD and then pulled them quickly when I saw the disappointing sales figures from the USA. I didn’t achieve as high a profit as I could have had I removed them before the news. So lesson learned if you have trades in profit before news, remove them, save the risk. Unless you are reasonably sure of the outcome.
I’m steering clear of EUR trades till a bit later on.