Trading Plan – Monday 23rd March 2020: Markets reasonably calm as the week starts

Mark Nugent Daily Alert, March 2020

Trading Plan – Monday 23rd March 2020: Markets reasonably calm as the week starts

Last Week

Events and Calendar
A week of massive and unprecedented government and central bank intervention in the economy as coronavirus plays out.
Rate cuts, QE and other forms of financial stimulus seen in all jurisdictions.

Risk Sentiment
Mixed, but risk-off periods having more price impact that the more positive periods.

Asset Classes
US equities down by at least 10%.
WTI down 29%.
GOLD down.
USD and JPY soar. Commodity currencies and GBP dive. EUR comes off 12-month high.

This Week

Markets are reasonably calm as we start the new week. I will be looking for an equities rally but that may not happen for some time. So far currencies are behaving as they did last week, so that may offer our best trading opportunity. As always, I go through the detail in the members’ video.

VIP Club members can watch the video HERE