Hi, check out today’s video. Many potential trades that were on my list on Sunday are now OFF
I show how European and UK stock markets are breaking lower and the US ones are at major areas.
In Europe, the COVID crisis is causing major problems with France rumoured to be ready to join Ireland in going into full lockdown. Spain & Italy have curfews and partial lockdowns in many areas and the picture is not much better in the rest of the Eurozone. Clearly, that is not good for the Euro. Do not be in a rush to buy the Euro, now my bias is only to sell it.
In the US there are real fears that if the election result is close Trump will refuse to go or at the very least contest it, this could drag on for months. Markets do not like uncertainty.
Overnight Australia’s inflation data and supporting notes were better than expected. Those considering swing trading the Aud short, be careful. This time it could pop and break higher. The Aussie economy has suffered a lot less than the USA and COVID appears to be under control again.
On the other hand, the Yen is strengthening. I have taken some profit on my $/Yen short and left the balance to run, stops past entry.
Be mega careful now if you are considering buying the Euro/Yen lower down.
The Cad Yen looks interesting to short but there is major Cad news today so wait for that to come out before thinking about trading it.
Bitcoin on the other hand is soaring. If stock markets tank BTC may well not this time and even if it does drop temporarily I will buy more. ( I do NOT trade it).
I suggested to family members today to consider buying more gold and certainly if there is a dip.
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