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EUR/USD: a small pullback occurred at the opening of the trading day.
Although the decline stopped, it doesn't necessarily mean that the trend is going to be upwards now.
Europe is in a very difficult situation. Italy and Spain are currently in a severe crisis due to the coronavirus.
Germany and Northern Europe, on the other hand, is already close to bringing the epidemic situation under control. The German government is already discussing about lifting the quarantine measures in the country in about 10-12 days, to be able to start reviving the economy. Of course, this will only push through if the situation does not start to deteriorate sharply.
EUR/USD: Buy from 1.1150, but be ready to sell from 1.0635
Update on the pandemic: As of March 30, the total number of infected all over the world is 724 thousand. 34 thousand have died, while 152 thousand have recovered.
According to official data, as of this morning, the number of confirmed COVID-19 cases in the US is 146 thousand.
Meanwhile, in Europe, the worst situation is still in Italy and Spain, with 10,800 deaths in Italy, and 6,800 deaths in Spain.
The total death counts in the US is 2,500.
Over the weekend, the number of infected people in Russia rose sharply to 1,500. 1,000 of those are from Moscow, but this data is still Sunday's record.
Moscow is now closed for quarantine, but entry and exit to the region are still allowed.
Russia declared the week as non-working.
News on the markets: the first batch of data regarding the US economy for the month of March, will be released on Wednesday. There's a probability that the markets may decline even further.
In my review today (Trader's Diary), I will give an exclusive material about the real statistics on the epidemic.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
