Trading Plan: Monday 4th February 2019

Mark Nugent Feb 2019, Trading Plan

Trading Plan: Monday 4th February 2019

The management of sentiment continues over in the US – Fed voter Kashkari says Powell is coming to the view that no more rate hikes are needed. This is quite a significant move as the dot plot still shows 2 or 3 rate hikes expected by the members of the FOMC themselves.

Trump says a China trade deal expected “soon”.

We are in the middle of US earnings season and so far so normal – lots of companies delivering EPS greater than prior forecast. It’s all very bullish (and managed).

The USD continues to go sideways. The removal of forecast rate hikes should push the USD down, but there was a fear that the planned rate hikes would suffocate the economy. The removal of that threat is positive for the USD. So there are two opposite forces at play here. So we watch.

I still see risks to the GBP as skewed to the upside. It will be all about timing.

I will be conducting a month long trading experiment starting today. I will tell you about it over the week. You can, and should, take part. Also, you’ll get a first look at the new currency index charts we are developing. This will give us 24/5 access to data and we can stop using third parties like TradingView.

Have a great week.

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