The USD strength is continuing as we begin the second quarter.
What has changed with Brexit other than a brief extension? The short answer is…nothing. PM May has not been able to get an acceptable deal through her own parliament, let alone the E.U. The GBPUSD moved higher today, but I prefer to only short the pair until an agreement is reached. Most traders are avoiding the pair.
The EURUSD made two lower highs early in the U.S. session and a short was taken risking 12 pips for a potential 33 pips to our daily target just above the figure at 1.1202. Price moved lower and our trade was closed at 1.1209 at the end of the session.
There was a “risk on sentiment” today as evidenced by the U.S. 10 year yield and equities.
The U.K. and Europe have finally moved their clocks ahead, and this coming weekend Australia and New Zealand will be moving their clocks back.
Good luck with your trading!
