Daily Alert – Tuesday 23rd May 2023: Trade what you see…
Yesterday saw indecisive risk sentiment. German manufacturing is dragging down the entire Eurozone economy, missing expectations with further contraction forecats. In the UK, Services PMI missed expectations, but expansion is still forecast. The US debt-ceiling circus rumbles on, with positive noises coming from President Biden.
I have my rationale for where I think the USD, EUR and JPY should be going. However, two of them, the USD and the EUR, are clearly trending in the opposite direction. You must trade what you see, not what you imagine. Therefore, I am looking closely at EURUSD and USDJPY. There’s more detail on this in the video.
There is nothing left on the calendar of any note today.
I’ll be back tomorrow.
VIP Club members can see today’s video, all brief trading videos, the Monthly and YTD Performance videos, the Trading Video Course and download the MTM Indicators software HERE