 Good morning and welcome to the week ahead video with me, David Madden. Today's date is Friday the 14th of February 2020 and the time we just got 11 35 GMT and I'm looking ahead to next week, which is Monday the 17th of the Friday the 21st of February Now before we discuss the events of next week Let's take a quick roundup of the events of this week Then a look at a few of the most popular markets indices and forest change pairs And then I'll talk about the big the big events of next week And I will have covered some of the the markets that I'd like to get impact in the middle of the video So this week But today a session has been recently quiet for as well every markets and currency markets go This week we've seen a few ups and downs earlier in the week. There was initial signs out of China That the coronavirus tragedy was showing signs of slowing down That got turned on his head with the medical authorities in China Can it change the methodology of how they actually determine people in but determine Cases of infection and then when they did those changes They actually realized the situation was far worse than I should he was initially thought So we saw a bit of a turnaround on that That happened to say yesterday Today, there's still markets are a bit subdued, but unfortunately the crisis has gotten worse That's been kind of balanced off by the fact that there are some aspects of the Chinese economy We took up what you're going back to business But there's still a bit of uncertainty around that and already we're certainly here noises coming out of companies that have either operations in China or as Supply supply stores go from China They're saying that they're cautioning already that a future earnings future earnings could be impacted Depending on the severity of the situation In terms of political news and also big news for the currency markets yesterday. There was a shock announcement But the chancellor of the Exchequer Sajid Javed Surprisingly announced his resignation and then he was announced then that he was viewer. He's he's replaced by the relatively unknown Rishi Sunak There's a bit of there's initially a negative response in the British pound to this news but then then traders took the view Mr. Sunak is more likely to be kind of Get to get on board with Prime Minister as Johnson's plans and the kind of view is that you know Boris Johnson Prime Minister of the UK is keen to kind of have some sort of kind of That's what's a stimulus package But kind of you know look to kind of bringing five pro-business policies The budget the UK budget is going to be announced next month There's already talked that you know Prime Minister Johnson could deliver the could deliver the Boris bounce Through the truth to the budget So so traders took the view that this is going to be good for the British economy So we've seen a decent move to the upside in the In the British pound What I'll do is I take a quick look at some of the major markets starting off with the pound versus the US dollar I just talked about how we had a decent move to the upside in the pound This is a man now we could take a look with his take a look yesterday's move We had a very decent move to the upside on the pound versus US dollar We can see here that during the week the pound drifted lower It got decent support and this get a line here the 100-day moving average if you can continue to hold above that metric The other kind of more kind of wider bullish trend could continue and if you press on higher from here If you retake this blue line the 50 moving average on pound dollar We could look at retesting the late or the early rather the early February highs in around the kind of one one spot 32 mark And if you go beyond that we can then look to target the highs of late December in around one spot 32 84 on the flip side if it do have a Move to the downside and we take out the recent lows lows mid-February It could take us back down towards this area here in around one spot 27 68 The euro had a pretty pretty poor showing yesterday See we seem to have seen broad weakness across euro at last round against the US dollar the Japanese yen the Swiss Frank and the British Pound Obviously the British pound be quite well yesterday in relation to the political reshuffle, but this could euro weakness across the board So we've fallen we're kind of unchanged on the day on euro dollar, but the euros now back at a level last seen the lows of These lows were last seen in May 2017 to give the indication of how weak euro dollar is We've been a solid downward trend the last few sessions if this could a downward trend continues We could be looking at targeting one spot zero eight Any kind of rebounds in euro dollar could look to run it could look to Encounter resistance in around this area here in at one spot 0925 and if you get a move beyond that we could potentially head back up towards one spot ten But it's you know, it's in a lower low a lower high a lower low a lower high and the a series of lower lows So seems to me that we could be we're clearly in a bearish move at the moment I mentioned about how we had some kind of back-and-forth uncertainty in the in in global stock markets That you know that that being said We're still probably in the broader upward trend of the last few months this here is the footsie with hundred This red line here is the tuner to moving average, which we're still holding above We're currently at seven thousand four hundred and sixty three the turning moving average comes into play at seven thousand three hundred and sixty six So while we hold above that metric the kind of wider upward trend of the last few months It's likely to continue if you do press on higher from here We could be looking at retesting the mid-febri high in around seven thousand five hundred and sixty they're there abouts And if you go beyond that we could be looking at targeting seven thousand six hundred If the market does manage to turn lower again, and it takes out the tuner to moving average We could then be looking at targeting the lows of late January Now to be fair the footsie hundred given that It has high exposure to mining stocks and energy stocks and also, you know a number of different companies that are connected to China That is probably the probably the one the bigger underperformers of both European and US stocks So we're now taking a look at the DAX It was only it was only during the week the DAX was a was setting set all the time high So this was obviously during the period of time when it was felt that the Just the hell crisis in China with this is coming under control, but now since then the view is that the The view is that the fortune the head cries is actually getting worse that being said We have managed to recoup a lot of the ground that would last yesterday So we're still in a very much upward trend If we do press on higher from here you could be looking at targeting 13,800 beyond that, you know we could be looking towards 13,900 and then if you on that the next big psychological number will be 30 sorry 14,000 And he moves to the downside could find some support from the zone here in around 13,640 down towards 13,600 that can zone a significant solidation in the past so it makes it a likely candidate for a support zone in the future should we see a decent pullback Take a look at what's going on over in the Far East and the Nikkei 225 It's in pretty good shape But I ever saw slightly concerned about some of the price action that we've seen so obviously we see the decent rebound In the in the Japanese stock in Japanese market It's pretty much sitting above this blue line and quickly moving average And if it continues to hold above that it's likely we could see further gains being made and heading up to back up 24,000 mark and if you go beyond that we could be looking at targeting the highs may January and if you go beyond that We could be looking to target the highs of mid of mid December I'm just ever so slightly concerned that we have seen and it's not it's not a lot Textbook example of the downward trend, but notice how the highs of February failed to take up the highs of January and the Highs of January they take up the highs of February of December The lows of January took off the lows of the lows are late January took up the lows of early January So, you know, it could be a sign that the market could be turning over But it's you know, so if you do look to have a decent move below the 50 moving average We could be looking heading back toward this area here But what are they moving average in around 13,000 in around 23,000? 173 down to 23,000 itself the figure and if you do take off that We could then be looking at targeting the late January lows Over in the US things are looking Same old story same old bullish story US US stock markets are racking up all-time highs We did see a bit of uncertainty yesterday, but things didn't actually be finished too badly We are, you know, we're currently expecting the S&P 500 to open when cash trading gets underway around 3,382 to think they're still quite strong If you do have a pullback support could be far from this zone here in around 3,350 and it's only really if I have a very size of a pullback could we look to head back down towards 3,300, but you know, notice how How much the size of the gap between where the market currently is and it's 50 day moving average So I'll give you an indication just how strong the S&P 500 is Now looking at the next week some of the events to keep an eye on In the kind of first half of next week is important reports from the UK. We have UK unemployment earnings CPI and retail sales. We have Canadian CPI We have the minutes from the latest Federal Reserve meeting where the Fed kept rates on hold meeting expectations We have the flash Manufacturing and service PMI reports from the major European and major European economies and the US We have results out first half results from BHV Billiton the mining company HSBC full year results Yeah, the bank what's interesting about those two and also we have updated from Angela American They're all gonna be interesting because of China between mining companies a large exposure to China in the form of selling minerals and HSBC drives a large portion of its wealth from the Far East And speaking of banks Lloyd's have a full year figures out as well And then also connect to the China once again We have big first half first quarter figures out from dear group the machinery company crowd a large portion Their revenue comes from agriculture goods and obviously the agriculture business in the US is closely tied in with China How quick you take a look at Lloyd's One of our popular stocks We can see here that Lloyd's got a decent Joel to the upside in December On the back of the sizeable Tory party victory at the UK general action But since then we've been hand-to-back We've we've been pressing lower we're pretty much training in around the two or two moving average If you continue to press them lower from here, we could be looking at our getting the early never mid-November lows In around 55.4 on a move below that could take us back towards 52 If you do have a spurious eyes move to the upside and we go beyond 60 tens of loads We could head toward this sold here in around 64. I take a quick look at BHP the mining company like I said BHP I've been their share price have been heavily dragged around by the Perceptions about the the state of the Chinese economy China's a major importer of minerals BHP the mining company So as you can see here we've seen it we've seen broadly speaking It's been holding below this red line the Trinity moving average for quite some time obviously it was above it in mid January, but we're now country below it If you do continue to press on lower from here and we take off the lows of early February We could be like heading back towards for the kind of 16 pound zone in the lows of a late October But if you do manage to you're going to press on higher from here I managed to fill this gap that was created in late January with Kuban Getting back above the Trinity moving average and if you go beyond that you can test in 18 pounds a share or potentially on towards 18 pounds 72 last seen in mid January I do appreciate the fact it's been longer bit a lot longer videos, but there's a lot of ground to cover Thank you for bearing with me. Have a good training week and good luck