01.04.202013:34 Forex Analysis & Reviews: EUR/USD analysis for 04.01.2020 - Price is at the main pivot at 1.0925, watch for price action around the pivot to confirm further direction

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Corona virus news:

France, Spain, Russia and the UK record their highest daily deaths on Tuesday

Tuesday was a deadly day across Europe, with the largest increases in the number of deaths from the coronavirus in a number of countries. UK deaths were up 381 from 1,408 on the previous 24 hours – representing a 27% day-on-day increase – by far the biggest the country has experienced.

Technical analysis:

Gold has been trading downwards. The price tested the level of 1.0925.The level of 1.0925 is very important pivot level and the price action around this level would confirm further direction.

The downside breakout of the 1.0925 will confirm further drop towards the levels at 1.0882 and 1.0800. Selling opportunities in this scenario would be preferable. Today's momentum is favoring downside scenario.

The rejection of the 1.0925 will represent buying opportunity with potential target at 1.1035.

Watch for selling opportunities with the downward targets at $1.565, $1.548 and $1.492.

Major pivot level is set at the price of 1.0925.

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