Trading action on day one saw an incredible start to the leaderboard.
As you can see from the screen capture below, 18.27% is leading the 2020 Trading Cup after day 1.
There was plenty of market action across the global markets, with most of the action coming from the Aussie dollar, Bitcoin, British Pound and the New Zealand dollar.
The Aussie Dollar breaks above 0.68
The bulls took control at the start of the week, mainly fuelled by a strong Iron Ore price, which saw the big miners rally. Fortescue, BHP Billiton and Rio Tinto, all had positive days, breakout out of resistance into new short term blue-sky territory.
The Aussie dollar benefited from the rising Iron Ore price, a weaker US dollar and optimism around the country getting back to a pre-lockdown state earlier than expected.
Bitcoin breaks out above $10,000
Despite a Bloomberg article, highlight that China’s new digital money could challenge Bitcoin and even the dollar, the Bitcoin bulls took control, pushing the price strongly above the $10,000 mark.
Are we seeing a short covering rally or genuine bullish buying activity?
The British Pound continues to move higher, towards resistance
It was a strong session for Cable overnight, rising 183 pips as investor sentiment continued to surprise to the upside. Couple that with the weakening US dollar and you have an FX pair that is charging towards higher levels.
But several analysts have a bearish tone as they are not expecting overly positive news from Brexit talks coming up.
Day 1 trading action has been nothing short of amazing, and we can’t wait to see how the leaderboard and top traders progress throughout the month.
We look forward to bringing you more updates and information on how they leaders are trading their accounts.
