For Traders

Analytical Reviews

27.05.202012:36 Forex Analysis & Reviews: Trader's diary on May 27th, 2020. Outlook for EUR/USD. In Russia, COVID-19 outbreak passes peak

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

This is the most important chart that reflects the number of active coronavirus cases. That is the number of people under treatment. (Russia, May 27^th). We can see that the chart is declining form its high. However, we should take into account that a drop recorded in Moscow contributes to a general decline more than other regions. At the same time, in Saint Petersburg, scientists logged a decrease of 350 people. About 10 thousand people are still under treatment.

This chart reflects the number of new cases a day. Since May 11^th, there has been a confident fall. Today, the number of new infected people totaled 8,100. According to the dynamic showed by other countries, the epidemiological situation may improve in a month, that is by June 11^th. In Moscow, the improvement could be achieved earlier – by June 3-5^th.

The ruble against the US dollar. The Russian ruble stopped moving up. However, it is expected to be strong until a vote on constitutional amendments that will be approximately held on July 26^th or until autumn. In a long-term perspective, the Russian currency may drop amid lower oil prices. Europe has already stopped buying Russia's gas because their oil storages are full.

It is possible to buy US dollars and euros.

EUR/USD: Buy positions from 1.0855.

1.0870 is a pivot point.

New buy deals could be opened, when the euro consolidates above 1.1020.

Back to the list

Open trading account

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.