Boris Johnson will know later today if he will get an extension on his Brexit proposal. The 27 Leaders of the European Union will meet to weigh the U.K.’s extension request and what the format of the extension will be. PM Boris Johnson should have his answer by Thursday evening.
We are currently in profit for our AUDUSD short trade and we can expect further downside to continue. The technical analysis for why this trade was taken was once again explained on the live session in our Trading Room. Using technical analysis, we were also able to identify trade setups for XAUUSD (Gold), EURUSD and EURNZD. We are currently waiting for price action to indicate an optimal entry point.
Later today during London session, there will be a slew of economic releases concerning the Euro, so please be sure to manage your risk accordingly. The economic schedule for today is clear, so we should have a smooth trading day until the early morning hours tomorrow. We will discuss the data released tomorrow during our New York Session at 11:00 AM in the Forex Trading Room.