Currently, the dramatic rise or the EUR against the GBP may call for a retracement in the price as the EUR area begins to show a slow down with the gradual shut down of the private sector. So looking at the currency pair to trade on a short and long idea, the EUR/USD offers the best shorting opportunity while the GBP offers the best long opportunity.
If the dollar rallies to 100.00 then EUR/USD would offer a strong short or put options all the way to 1.0780
So again these are the levels we are looking for, should EUR/USD stay where it is, then we can seek to short this pair for the day down to 1.0780, should it rise above 1.1237 then we can start to consider going long for the day as the dollar likely will completely retrace, as for GBPUSD, this pair should consolidate if EUR/USD is short and dollar rallies however if the dollar retraces and GBP/USD goes above 1.2280 then we are likely to start hunting intraday longs.
On the stocks front, consider the stocks likely to be affected by the Covid-19 as these offer potential to short during the time of panic and provides you the trader a way to hedge your investment but using the shorts in the stock market any short term risk you have will be covered here, understand that you can always diversify your portfolio to maximize your gains and limit your downside
A stock on the watch include:
While apple, of course, is a great company to own a stock in right now people have other priorities than buying the next gadget like saving their money for the panic in the shops for food
Another company worth looking at on a short opportunity is McDonald’s.
Should price get to 160, it could offer a short term short in the market as mc Donalds become breeding grounds for covid-19 and amidst fear the sales should go down dramatically/ but note that in times like these people also seek a level of comfort to forget about the noise so until the full-scale numbers come into the US there may be a short bounce up in the price before the further decline (in other words price could spike to 180 giving traders the idea it’s a buy only to go short after so 160/180 are potential levels to short from