The crypto market holds positions after gain
Bitcoin has climbed 3% in the last 24 hours and traded around $6,700, but the main increase occurred yesterday morning, after which prices stabilized near last week's highs. Altcoins are showing similar dynamics. However, the first cryptocurrency failed to break out from $6K area, and was unable to replicate the rally of global markets.

Over the last week, the Bitcoin Dominance Index rose by almost 2% to 65.7%. The Crypto Fear & Greed Index has increased by one point in the previous 24 hours, remaining in the "extreme fear" area. According to its creators, this indicates a right moment for purchase. The RSI index is in the neutral zone, after oversold, also giving a signal to buy. As unpleasant as it may be for crypto enthusiasts to realize this fact, but the situation around the epidemic, stock market, and central bank incentives will have a powerful impact on prospects for Bitcoin and the entire crypto market.

Feast during the plague: markets soared without waiting for signs of improvement

With 11.4% jump, Dow showed its largest one-day gain since 1933. But without spreading virus contagion in the US it is more like November 1929 - April 1930 kind of short-term rebound.

Market optimism was powered by the extraordinary scale of support that Congress and the Fed promise the US economy. Yesterday lawmakers adopted a $2 trillion package, and earlier the central bank announced the start of broader and potentially boundless QE and other non-standard lending support measures.

However the spread of the disease in the US accelerates. Spreading speed demonstrates that the current restrictions are too weak. Stricter quarantine measures may be needed soon, as was the case in many European countries, where restrictions were increasing until the rate of disease growth stabilized.

https://fxpro.news/daily-forex-outlook/feast-during-the-plague-markets-soared-without-waiting-for-signs-of-improvement-20200325/

US markets paused growth on Wednesday after jumping 9.4% SPX on Tuesday (strongest since 2008). Despite large-scale stimulus, it is difficult for major indexes to demonstrate back-to-back growth. SPX -1.0%, FTSE100 + 2.0%, EuroStoxx50 -0.4%.

DXY is falling for the 4th trading session, but retreated from the daily lows after stocks losing traction. EURUSD is trading slightly above 1.08. GBPUSD turned to a sharp decline from 1.1990 to 1.1770 in less than 5 hours. At the same time, commodity currencies confidently add to USD.

Gold faced growth difficulties above $1,630 after USD turned to growth earlier today and threatened the rally of gold.

Brent was turning down from the level of $ 30.50 for a second day, at $28.8 now. Fears of a collapse in demand in the coming months hold back buyers even at times of optimism in other sectors.

The global tipping point with the spread of coronavirus has not yet arrived, maintaining a shaky foundation under market recovery.

#WaveAnalysis
#USDJPY rising inside impulse wave ③
Likely to reach 112.00

https://fxpro.news/market-snapshots/usdjpy-wave-analysis-25-march-2019-20200325/

#WaveAnalysis
#AUDCAD reversed from resistance area
Likely to fall to 0.8500

https://fxpro.news/market-snapshots/audcad-wave-analysis-25-march-2019-20200325/

Over the past day, the number of new coronavirus cases grew by 48,461 against 26,158 a week earlier (43,769 yesterday). In the US identified 13K new cases. As soon as tomorrow, the number of cases in the US may exceed the level of China. In Spain, 7.5K new infections (2nd place in terms of pace after the US). There is a new wave of acceleration in France and Iran. The growth of this indicator casts doubt on the strength of the market rebound, tuning in to strengthening quarantine measures and worsening economic prospects. Positive: Italy, Germany, Switzerland has flatlined pace of spreading.

#WaveAnalysis
#EURUSD reversed from combined support zone
Likely to rise to 1.1200

https://fxpro.news/market-snapshots/eurusd-wave-analysis-26-march-2019-20200326/

#WaveAnalysis
#Gold broke resistance zone
Likely to rise to 1690.00

https://fxpro.news/market-snapshots/gold-wave-analysis-26-march-2019-20200326/

#WaveAnalysis
#USDCHF reversed from resistance level 0.9850
Likely to fall to 0.9620

https://fxpro.news/market-snapshots/usdchf-wave-analysis-26-march-2019-20200326/

Gold enjoyed recent monetary bazooka while Brent missed the recent rally. And there is steady USD decline.

What the moves of Gold, Crude Oil and FX tell now?

https://fxpro.news/daily-forex-outlook/what-the-moves-of-gold-crude-oil-and-fx-tell-now-20200326/

The pandemic will accelerate crypto-processes

We are now at a point where market trends can quickly change due to pandemic. Constant analogies with the times of the Great Depression and panic in the market lead to the promise of unprecedented stimulus measures by the world’s leading central banks.

The recent sharp growth in stock indices has eased the panic somewhat, but this may only be a short-term step towards a depression for the entire traditional financial market.

https://fxpro.news/analysis-and-insight/the-pandemic-will-accelerate-crypto-processes-20200326/

Over the past day, the number of new cases of coronavirus infection in the world has increased by 60830 against 30648 a week earlier (48461 yesterday). With 85K cases identified, the US became the world's hotspot, overtaking China and Italy. The overnight growth there exceeded 17K, continuing to accelerate. In Spain, Italy, Germany, Britain, Iran, the spread accelerated too, again. At the same time, the markets keep a moderately positive mood due to injections of liquidity from central banks and in anticipation of government stimulus.

Bitcoin clung to a $6,700 level over the last three days, little changed over the previous 24 hours. After the collapse on March 13, the BTCUSD charts show a daily rise in intraday lows, which is a bull sign. The Bitcoin Dominance Index rose to 65.6%. The Crypto Fear & Greed Index slipped a few points a day towards even more “extreme fears”. RSI is still in the neutral zone.

Despite the signs of future growth, it is still easy to see the hesitancy of the buyers. As long as the Fed fills the world with dollars and many governments approve stimulus packages, the economic situation is deteriorating daily. And these are just the first signals of impending problems. Of course, this may affect investor sentiment and prospects for the crypto market.

We have repeatedly seen Bitcoin breaking many support levels. Often, such negative price dynamics happened just after long sideways trends or periods of indecisive growth.

This is a rebound, not growth. For the economy, the worst is yet to come

American indices rose by more than 6% on Thursday, adding 21% to this week lows on massive stimulus hopes and central banks flooding the markets

However, investors need more cautious because bull market need not only indices bottomed out by 20% from the lows, but also signs of economic stabilization. There are still certain difficulties with this.

Published US jobless claims data showed 3.28M jump (more than three times worse than average expectations). And that was the reaction of the labour market for the week up to March 21, when the number of new coronavirus cases increased by 21.4k. Since then there has been a dramatic deterioration: only yesterday the increase in the number of cases in the US exceeded 17k to 85K total.

https://fxpro.news/daily-forex-outlook/this-is-a-rebound-not-growth-the-worst-is-yet-to-come-20200327/

For the third time this month, the Bank of Canada lowered its key policy rate. A decrease of 0.5 percentage points to 0.25% put the rate to the “lower effective bound”. Besides, BoC announced the launch of QE to support credit markets without specifying the end date. USDCAD is shakenly adding after the statements as not only Canada, but the US also are taking aggressive measures to soften its monetary policy.

#WaveAnalysis
#EURGBP broke round support level 0.9000
Likely to fall to 0.8800

https://fxpro.news/market-snapshots/eurgbp-wave-analysis-27-march-2019-20200327/

#WaveAnalysis
#Natural Gas reversed from resistance area
Likely to fall to 1.600

https://fxpro.news/market-snapshots/natural-gas-wave-analysis-27-march-2019-20200327/

US indices are losing 3.5% on Friday after 6.4% growth a day earlier. The market rebound due to injections of liquidity from the Central Bank and massive incentives stalls amid signals of a weakening economy.

DXY loses the 6th consecutive trading session following the massive Fed's QE and swap lines. EURUSD climbed to 1.1050. GBPUSD develops a sharp rebound, trading at 1.2400, starting the week at 1.1450. Commodity currencies are again weakening towards USD.

Gold is still having difficulty rising above $ 1,630.

Brent is losing more than 5% to $ 27.50 due to speculation around a sharp drop in demand and the lack of OPEC's desire to cut production.

The global tipping point with the spread of coronavirus has not yet arrived, maintaining a shaky foundation under market recovery.

Over the past day, the number of new infections in the world increased by 59.4K cases against 32.6 a week earlier (60830 on Friday). In the USA, the number of confirmed cases reached 142.5K - the growth rate has stabilised near 20K per day, gives way some hopes for contagion. The same can be said about Italy and many other developed countries. In Spain, the number of confirmed cases falls for the fifth day in a row. However, in many developing countries, spreading has not yet slowed.

Stronger EURUSD is a good sign for markets

With the authorities of all countries pushing the monetary easing pedal to the floor, it becomes even more difficult for traders in the currency market to identify trends. The last such example in modern history was in 2008/2009. As a result, we can conclude that currencies will be extremely volatile.

If EURUSD is an equally reliable indicator for the markets this time, then we can expect with some caution the repeal of the situation towards improvement.

Despite EURUSD rollback by 0.6% to 1.1070 from 1.1140, an important signal for traders is last week’s closing EURUSD above the 200-day average. Which often precedes a significant increase in pair purchases in the coming days and may also serve as a harbinger of a global trend reversal in the pair for growth.

https://fxpro.news/daily-forex-outlook/stronger-eurusd-is-a-good-sign-for-markets-20200330/