What would we trade today 05.04.2016

05.04.2016 / 09:52

Rating:

The fall of the price of Oil will have a negative impact over the prices of the stock indices, therefore, our short term positions here must be sell, our medium term and long term are on hold and awaiting better levels for entry long.

The fall of the indices will negatively impact AUD and its crosses: Sell AUD/JPY

Having said that, the caution and these short term speculative mood of the market will support the JPY, and therefore today we will buy the JPY: Sell EUR/JPY, GBP/JPY and AUD/JPY

We continue to be short and sell European bank stocks: ARL.DE, DBK.DE, CBK.DE and French banking stocks.

The fall of the Oil price and the prices of the other commodities will negatively impact the UKX index, due to its large exposition in the energy and mining companies. Possible sell on UKX.

Stefan D. Angelov

Varchev Traders

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What would we trade today 05.04.2016

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