Eat, sleep, trade the impact of Coronavirus

Unfortunately, it’s not good news, companies will continue to crumble under new measures and extended lockdowns, civil unrest on the horizon, may cause very wild spikes in the markets and there is a possible black swan that can be very hurtful. Be very cautious about the management of your risk.

With that said let’s see what the markets have on offer

EURUSD

Long term: Sell

Short term: Sell

If we get above 1.0970 today then we will likely trade to 1.1060 and then look for the short, but this is unlikely and so the most favourable outcome is we see EURUSD consolidate until closer to the news of UNEMPLOYMENT then break below 1.0900 for further downside.

The idea is that the numbers have already been priced in and if oil continues to drop the Federal Reserve with fight it with a stronger dollar sending cross pairs lower

GBPUSD

Long term: Sell

Short term: Buy

All Sell ideas are currently being reviewed, as now there seems to be a 400 pip opportunity to the upside as the gears have shift, and the GBPUSD pair is expected to target 1.2800 today on the Unemployment numbers, that is a 400 point move so be mindful of this, if we see gradual retracements then we can reconsider this move but we will likely see no pullbacks and price will gradually drift towards this figure before the numbers and then spike up.

Tesla

Long Term: Sell

Continuing to track Tesla this one should continue to see downside although while the indexes for these stocks try to go a little high before going lower we could see a small run up in Tesla before going lower but this should help get prices to sell at for our target of 260 a share

Lastly, we have the ETF for the S&P500 (and the other indexes have a similar trend)

Long term: Sell

Short term: Buy