ZuluTrade Blog
Image

Market View

Coronavirus Slows down, Stocks Rise!

Tuesday, April 7, 2020 3:59 PM GMT

Investors are constantly monitoring the coronavirus new infections’ and deaths’ graphs to discount or anticipate the end of the lockdowns on the hotspots. Italy and Spain give optimistic indications that the new cases are slowing down day by day, as well as experts, say that New York shows signs of flattening. The following graphs are showing that the trend starts to decline:

Italy

Spain

Source Worldometer

GER30 performed a bullish break out of 10000 level and is heading to the 50% Fibonacci retracement level. The Federal Statistical Office (Destatis) announced that production in industry excluding energy and construction was up by 0.4% in February. UK100 is testing the 5770 resistance level and moves for the 2nd day above 20SMA. The Office for National Statistics reported that “productivity decreased by 0.2% compared with the previous quarter; this was also caused by an increase in inputs (1.7%) that exceeded the increase in output growth (1.5%)”. 

The same is the picture with the US market, as SP500 grinds higher today and is verifying the 2650 level breakout. NAS100 looks even stronger than SP500 and is already moving above the 50% Fibonacci level. The 61.8% level acts as a major resistance. 

CopyTrade with ZuluTrade

GER30 daily chart

UK100 daily chart

SP500 daily chart

NAS100 daily chart

CopyTrade with ZuluTrade

Heading to the forex market, US dollar is tumbling against its counterparts. EURUSD is forming a bullish daily candlestick and erases 2 days of losses. It currently testing the 20SMA from below. GBPUSD holds above 1.2195 and is heading to the upper side of its range. 

EURUSD daily chart

GBPUSD daily chart

Checking the ZuluTrade’s Traders Sentiment, the community is mainly selling most of the following pairs.

 

Today’s economic calendar includes the following news:

Nothing Major

 

Disclaimer

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 ZuluTrade Social Trading Platform and do not constitute an offer or invitation to anyone to invest or trade.

Comments are closed

Trading spot currencies involves substantial risk and there is always the potential for loss. Your trading results may vary. Because the risk factor is high in the foreign exchange market trading, only genuine "risk" funds should be used in such trading. If you do not have the extra capital that you can afford to lose, you should not trade in the foreign exchange market. Forex Brokers and ZuluTrade are compensated for their services through the spread between the bid/ask prices or there may be a cost to initiate a trade through the bid/ask spread. Signing up is totally free, and there is NO contract and NO monthly fees, ever.

This blog is for informational purposes only. This blog is not intended for distribution channels and may not be reproduced or distributed without the permission of Zulu Trade ltd or any of its affiliated entities (“ZuluTrade”). All opinions, news, prices or other information contained in this blog are provided as general market commentary and this report does not contain and it is in not to be considered in any circumstance as market analysis, offer or solicitation to buy or sell any financial instruments, personalized or general recommendation for any investment decision or investment strategy by ZuluTrade, in any jurisdiction in which such offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. The information contained in this blog should not be construed as financial or investment advice on any subject matter. The financial instruments referred to herein may not be suitable for all investors and any investments on such financial instruments requires the assessment by each investor and its counsels of the investor’s investment characteristics, including the investment risks which the latter is willing to assume. This blog has been based on information which has been made public, obtained from sources believed to be reliable, but it has not been verified by ZuluTrade. No representation or warranty (expressed or implied) is made as to the accuracy, completeness, correctness, timeliness or fairness of the information or opinions herein, all of which are subject to change without notice. No responsibility of liability whatsoever of howsoever arising is accepted in relation to the contents hereof by ZuluTrade or any of its directors, officers, employees. Further, no representation is being made that any results will be achieved, and past performance is not indicative of future performance.