In our Daily Trade Watch video, we look for high probability trade setups that we can trade throughout the day. Today, we discuss some mild optimism and a strengthening dollar.
It is hard to think that we should become too optimistic too soon but the figures have shown a mild improvement in the pandemic over the last 24 hours. It will be interesting to see if this is a sustainable improvement in the COVID-19 numbers or just a false dawn. The next few days will provide the clarity we need.
For now, and in line with this optimism, we are looking at buying above yesterday’s high of 2680. Elsewhere, we see the potential for another USD buy trade except this time it is versus the pound. Boris Johnson is now in intensive care with the virus, which is a troubling development. The next few days will tell us a lot but after significant consolidation in the GBPUSD over the last few days we are waiting patiently for a breakout trade to the downside below yesterday’s low of 1.2204.
Mild Optimism and a Strengthening Dollar – Full Video Analysis
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