In our Daily Trade Watch video, we look for high probability trade setups that we can trade throughout the day. Today, we discuss the risk-off trading conditions due to coronavirus.
The tragic nature of this virus is very worrying on a human level and it is this disruption and the fear of the unknown which is playing heaving on the financial markets. We are clearly in a risk-off phase in these markets. As a result, we are seeing yen, Gold and USD all strengthen and the Indices and Oil markets tumble.
Looking at the charts from a technical perspective, we expect continuation until the markets get a bit of clarity on the situation. The uncertainty is likely to cause more volatility in the risk-off markets. With this in mind, we anticipate further downside in the S&P 500 so below yesterday’s low of 3233 is our trigger for a potentially high probability trade to the downside.
Risk-off Trading Conditions Due to Coronavirus – Full Video Analysis
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