Let’s get started…
- Scan of the Forex market
- Hot trade of the day (VIDEO)
- Economic indicators
- Education -The Global Prime Academy
Scan of the Forex market
It was a great day for the likes of the commodity-linked currencies, no doubt about that. With the Aussie providing strong evidence of demand on the rise as I indicated in the last report, it was now the turn of the Kiwi and the Canadian Dollar to catch up, and gosh they did! On the flip side, the Pound was decimated while the USD (again) found no love.
The springy movements in the Forex market came courtesy of multiple drivers this time. The first and most familiar one includes the gloomy prospects for a UK-EU trade deal. A hard-line has been set for this Sunday even-though there is no guarantee that politicians won’t do what they do best, that is, kicking the can down the road by extending talks beyond this date.
We also learned that the ECB stimulus came well within the economists’ projections, while the EU Recovery Fund was finally approved by the leaders. In the former, called the Pandemic Purchase Programme, it was beefed up by €500bn to €1,850bn and extended by 9 months until March 2022, even if Lagarde suggested it may not be needed to be used in full if a strong recovery occurs.
In terms of the US fiscal stimulus negotiations, there was no new developments to report as politicians continue to be in a gridlock state with key differences over a legal liability waiver for businesses and aid to the states. Despite the disagreements, and with the labour market showing signs of distress after the Jobless Claims report, the US stocks market found dip buyers.
Lastly, as part of the selection of the hot trade, today I want to outline two markets (AUD/CHF, AUD/USD) that gave us an excellent signal to speculate in AUD long exposure. Remember, patience to let the market comes to us eventually tends to pay off and that’s exactly what this first half of December has been about in order to find good quality TT pattern as these two trades were.
Hot trade of the day
In this section, I pick a market or several ones that presented an opportunity based on the concepts I teach. My video analysis below elaborates on the logic behind the trade.
Economic indicators & events
If interested in the best ‘free of charge’ News Indicator that displays data on past and future news in the Forex market via MT4, check this YouTube video. The indicator allows you to save time and avoid mistakes.
Announcing The Global Prime Academy. Check out our brand new Academy website launched earlier this week. Let me give you a brief background on why we’ve created the Global Prime Academy. The universal praise I received about my trading and content I produce has been incredible.
However, clients at Global Prime were frustrated to find a structured way to absorb all this knowledge. Part of these golden nuggets are now going to be encapsulated in easy to follow and digestible lessons. By the end of the course, you will be given a set of strategies to take your game to the very next level. The first delivery focuses on the ‘TRAPPED TRADERS PATTERN’.