In this morning’s session it was the PMI data which took center stage in both the UK and Europe, and whilst the data was positive, this had to be viewed in the context of the big picture. For Europe, this is the growing threat of a slowdown and recession, whilst for the UK it is the ongoing uncertainty over Brexit. So whilst the data may be good and results in a knee-jerk reaction on an intraday basis, the longer term effects are limited as the bigger picture carries more significant weight than one data set.

Reversals present clear trading opportunities for those traders who are patient and the currency strength indicator is always the place to start. In this session, we revealed several clear opportunities for both the British pound and the euro, along with the usual reversals which occur at session crossovers, and supported with the currency matrix and the currency array, which together with the currency heatmap make up the currency dashboard.

Finally, some clear volume price analysis anomalies were identified on the slower timeframe charts for the GBP/JPY in particular and using the daily chart.

(Video length 01:08:50)