Time reader: 3min

The Coronas Virus has spread down globally with spotlights now in the US, UK, Italy and Spean. US deaths has surpassed 7,000 and Trump presidents is now invoking the Defense Production Act to prevent medical supplied from being exported to oversea markets. UK and France report deadliest day. WHO is now urging countries to remain lockdown. It has tremendously impacted to global financial market. Subsequently, it has continuously led to the market downtrend for some main currency pairs like EUR/USD and GBP/USD while USD/JPY and stock index S&P 500, Gold & Oil have continuously growing.


EUR/USD Intraday: capped by a negative trend line.

  • Pivot: 1.0830
  • Our preference: short positions below 1.0830 with targets at 1.0775 & 1.0740 in extension.
  • Alternative scenario: above 1.0830 look for further upside with 1.0865 & 1.0910 as targets.
  • Comment: the RSI shows downside momentum.


GBP/USD Intraday: the downside prevails.

  • Pivot: 1.2330
  • Our preference: short positions below 1.2330 with targets at 1.2240 & 1.2205 in extension.
  • Alternative scenario: above 1.2330 look for further upside with 1.2365 & 1.2400 as targets.
  • Comment: the RSI shows deep downside momentum.


USD/JPY Intraday: further advance.

  • Pivot: 108.10
  • Our preference: long positions above 108.10 with targets at 108.70 & 109.05 in extension.
  • Alternative scenario: below 108.10 look for further downside with 107.70 & 107.40 as targets.
  • Comment: the RSI shows upside momentum.


S&P 500 (CME)‎ (M0)‎ Intraday: bullish bias above 2455.00.

  • Pivot: 2455.00
  • Our preference: long positions above 2455.00 with targets at 2525.00 & 2560.00 in extension.
  • Alternative scenario: below 2455.00 look for further downside with 2425.00 & 2400.00 as targets.
  • Comment: the RSI is mixed with a bullish bias.


Gold spot Intraday: the bias remains bullish

  • Pivot: 1600.00
  • Our preference: long positions above 1600.00 with targets at 1627.00 & 1637.00 in extension.
  • Alternative scenario: below 1600.00 look for further downside with 1590.00 & 1582.00 as targets.
  • Comment: a support base at 1600.00 has formed and has allowed for a temporary stabilisation.

Crude Oil (WTI)‎ (K0)‎ Intraday: further advance.

  • Pivot: 25.30
  • Our preference: long positions above 25.30 with targets at 27.35 & 28.40 in extension.
  • Alternative scenario: below 25.30 look for further downside with 23.30 & 22.50 as targets.
  • Comment: the break above 25.30 is a positive signal that has opened a path to 27.35.

Bloomberg has just made an incredible video with analysis to recap the situation with analysis experts. Please have a look to make you updated:


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