Trading Plan – Monday 3rd February 2020: Risk sentiment is positive although coronavirus yet to reach its peak; GBP falls after Johnson speech

Mark Nugent Feb 2020, Trading Plan

Trading Plan – Monday 3rd February 2020: Risk sentiment is positive although coronavirus yet to reach its peak; GBP falls after Johnson speech

Last Week

Events and Calendar
A week completely dominated by fears over coronavirus.
Carney’s last BoE Super Thursday – relatively hawkish.
Eurozone sees a GDP miss.

Risk Sentiment
Apart from the difficult-to-explain risk-on sentiment on Tuesday, the week was risk-off.

Asset Classes
Global equities saw a gap-down/move-down week.
WTI hit strong support.
GOLD eased up marginally.
Commodity currencies were hit hard by the sentiment.
JPY broke its downtrend due to safe-haven flows.
AUD breached support.

This Week

With the impact of coronavirus so important at the moment, monitoring risk sentiment will be key as it was last week. So far we are slightly risk-on today but that may not last as the virus epidemic is yet to reach its peak. In the video I go through all the most likely options and trading scenarios for this week.

Have a great week.

VIP Club members can watch the video HERE