{"id":2351,"date":"2020-06-04T13:08:00","date_gmt":"2023-03-31T20:18:57","guid":{"rendered":""},"modified":"2024-05-29T08:14:07","modified_gmt":"2024-05-29T08:14:07","slug":"are-we-seeing-a-v-recovery","status":"publish","type":"post","link":"https:\/\/blog.zulutrade.com\/ar\/are-we-seeing-a-v-recovery\/","title":{"rendered":"Are we seeing a V recovery?"},"content":{"rendered":"

Most of the analysts will agree that the major stocks markets are performing a V recovery as they have almost trimmed the majority of losses caused by coronavirus outbreak. Nasdaq is the leader of the recovery as it is flirting with all-time highs again. <\/span><\/p>\n

Daily chart
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SP500 and DAX are lagging but still, have covered around 80% of the drop while UK100 is little more than 50%. Technically speaking, SP500 and DAX are retracing after reaching the Fibonacci level 78.6% that acts as resistance. Additionally, RSI is already overbought on both indices.  <\/p>\n

CopyTrade with ZuluTrade<\/span><\/a><\/p>\n

SP500 Daily chart
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<\/span><\/p>\n

GER30 Daily chart
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<\/span><\/p>\n

Indeed markets may seem as “disconnected” from the real economies. Most of the countries have been heavily damaged by COVID-19 consequences. The unemployment rate has been increased, the growth has been shrunk and uncertainty is all over globally. However, markets still remain a discounting mechanism, and probably forecasting a quick recovery soon or later.<\/span><\/p>\n

CopyTrade with ZuluTrade<\/span><\/a><\/p>\n

Heading to the forex market, EURUSD is testing 50SMA and the lower side of the rising channel in the hourly timeframe. The pair has confirmed the RSI and MACD’s negative divergences that we reported yesterday. USDCHF is still testing the major break or make support level at 0.9588. It has been a long time since USDCAD was oversold in the daily chart.<\/span><\/p>\n

EURUSD Hourly chart
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USDCHF Daily chart
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USDCAD Daily chart
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Checking the<\/span> ZuluTrade’s Traders Sentiment<\/span><\/a>, the community is currently bullish on USDCAD while bearish on GBPUSD, USDCHF, USDJPY, and GBPJPY.<\/span><\/p>\n

In focus today<\/span> (<\/span>economic calendar<\/span><\/a>):<\/span><\/p>\n

Traders must really cautious as major events are expected later today and they are able to create significant volatility.<\/span><\/p>\n

EuropeanMonetaryUnion – ECB Deposit Rate Decision<\/span>
<\/span>EuropeanMonetaryUnion – ECB Monetary Policy Statement and Press Conference<\/span>
<\/span>UnitedStates – Initial Jobless Claims (May 29)<\/span><\/p>\n

 <\/p>\n

Disclaimer<\/strong><\/p>\n

The views expressed do not constitute investment or any other advice \/recommendation \/suggestion and are subject to change. Reliance upon information in this material is at the sole discretion of the reader. Opinions expressed in the report do not represent the opinion of<\/span> ZuluTrade Social Trading Platform<\/span><\/a> and do not constitute an offer or invitation to anyone to invest or trade.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Most of the analysts will agree that the major stocks markets are performing a V recovery as they have almost trimmed the majority of losses caused by coronavirus outbreak. Nasdaq is the leader of the recovery as it is flirting with all-time highs again.  Daily chart SP500 and DAX are lagging but still, have covered […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"close","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-2351","post","type-post","status-publish","format-standard","hentry","category-market-view"],"metadata":{"rank_math_internal_links_processed":["1"],"_edit_lock":["1716970549:4"],"rank_math_seo_score":["19"],"rank_math_og_content_image":["a:2:{s:5:\"check\";s:32:\"376551860490e67fd0d4f6b5c8634dca\";s:6:\"images\";a:6:{i:0;s:56:\"\/image.axd?picture=\/2020\/04062020\/NAS100Daily 462020.png\";i:1;s:56:\"\/image.axd?picture=\/2020\/04062020\/SPX500Daily 462020.png\";i:2;s:55:\"\/image.axd?picture=\/2020\/04062020\/GER30Daily 462020.png\";i:3;s:53:\"\/image.axd?picture=\/2020\/04062020\/EURUSDH1 462020.png\";i:4;s:56:\"\/image.axd?picture=\/2020\/04062020\/USDCHFDaily 462020.png\";i:5;s:56:\"\/image.axd?picture=\/2020\/04062020\/USDCADDaily 462020.png\";}}"],"rank_math_analytic_object_id":["190"]},"pll_post_group":null,"_links":{"self":[{"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/posts\/2351","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/comments?post=2351"}],"version-history":[{"count":1,"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/posts\/2351\/revisions"}],"predecessor-version":[{"id":4012,"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/posts\/2351\/revisions\/4012"}],"wp:attachment":[{"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/media?parent=2351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/categories?post=2351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/tags?post=2351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}