#WaveAnalysis
#EURJPY reversed from multi-month support level 116.20
Likely to rise to 118.00

https://fxpro.news/market-snapshots/eurjpy-wave-analysis-03-april-2019-20200403/

#WaveAnalysis
#GBPCAD reversed from resistance level 1.7770
Likely to fall to 1.7200

https://fxpro.news/market-snapshots/gbpcad-wave-analysis-03-april-2019-20200403/

The job’s report looks terrible only against its own series background. This was the first decline after about 10 years of continuous gains (113 months). But markets quickly dismissed this data, which did not take into account the dramatic shift in the labor market landscape in the previous two weeks, when the number of initial jobless claims soared almost 12x to 3.28M, and last week doubled to 6.6M.

On the whole, the foreign market reacted rather apathetically to the report, maintaining the trends of the last two days when the dollar regained its position. Earlier in March, the USD soared during huge market liquidation and great dollar thirst. Later, it lost about half of this growth on massive Fed liquidity injections. Now, it seems, a new phase in the dynamics of the markets is beginning: the markets will respond in accordance with the scale of economic losses from the coronavirus. The euro in this context looks like an outsider, and the pound is still relatively stable.

Over the past day, the number of new infections in the world grew by 74.7K cases against 59.4K a week earlier (101.5K a day earlier and 80.6K on Friday). This is not the first time a week has begun with hopes for stabilising the pace of distribution. In large European countries, there has been a decrease in the number of new infections. Although the number of newly detected cases remain close to the highs and mitigation is not yet discussed, forward-looking markets see this information as the first stabilisation signals. This is an occasion to think that the scale of the disaster will not expand, which reduces the volatility of markets.

Economists are catastrophically far from reality in their estimates, but markets do not notice this. The coronavirus data now looks like a more reliable economic indicator than the economical reports, which is noticeably lagging.

And there is early signs of improvement that pushes stocks higher on this Monday.

Besides, extreme monetary easing and unprecedented stimulus announced by major governments have allowed markets to soften the decline and move away from lows.

https://fxpro.news/daily-forex-outlook/markets-are-ignoring-the-economy-coronavirus-is-in-the-spotlight-20200406/

The crypto market followed the stock market up

Bitcoin and the overall crypto market started the week on a positive note. In the last 24 hours, the benchmark cryptocurrency has added almost 4% and managed to exceed $7K.

Probably, the purchases follow the signs of improving sentiment in the stock markets. As soon as risk assets start to attract demand actively, institutional investors may also increase their positions in the cryptocurrency.

https://fxpro.news/analysis-and-insight/the-crypto-market-followed-the-stock-market-up-20200406/

Futures for US indices added 3.5% before US session start on optimism around signs of slowing the spread of coronavirus. The German DAX growing 4.6% today, the CAC40 is up 3.4%, while the FTSE100 is up 2.2%.

The FX volatility continues to decline. DXY slightly added, slowing its upward move growth since last Friday. EURUSD got back below 1.08, failing to hold above this mark. GBPUSD won back the decline at the opening of the day after reports of the hospitalisation of the Prime Minister.

Gold jumped to $1640, the highs since March 12, as stabilisation of risky assets returns the demand for gold as insurance against capital depreciation.

Brent is trading at $ 33.7 in the spot market, starting the week with a 7% dip to $32.5 after reports of the postponement of OPEC + discussions from Monday to Thursday.

Investors hope to see confirmation of the stabilisation virus spreading, which may be the starting point for further assessing the prospects of the economy and markets.

#WaveAnalysis
#GBPAUD reversed from key resistance area
Likely to fall to 2.000

https://fxpro.news/market-snapshots/gbpaud-wave-analysis-06-april-2019-20200406/

#WaveAnalysis
#EURNZD broke support area
Likely to fall to 1.8000

https://fxpro.news/market-snapshots/eurnzd-wave-analysis-06-april-2019-20200406/

Over the past day, the number of new infections in the world has grown by 72.9K cases against 62.2K a week ago and 74.7K a day earlier. There is a flattening of the pace of distribution, which is positively perceived by market participants. In large European countries (except France and the UK) there is a tendency to reduce the number of new cases. In the UK, France and several Scandinavian countries, we see stabilisation so far, but not yet decline. Some reports say that Italy is considering the date of the softening of the quarantine regime. Forward-looking markets took this information as the first signals of stabilisation. It is time for investors to assess the economic impact.

On Tuesday morning, Bitcoin showed 4.5% growth and traded around $7,300. At some point, bitcoin climbed to $7,400 but attracted sellers. According to CoinMarketCap, in the last 24 hours, trading volumes in the Bitcoin network increased by 45%. Markets believe that the growth in volumes along with the price indicates the strength of the move. Crypto market participants may not like it, but the dynamics of digital currencies have once again coincided with the sentiment of the stock market.

Crypto Fear & Greed Index grew by 8 points overnight, but it is still in the "extreme fear" zone. RSI went up, but so far in the neutral zone.

The altcoins not only supported the first coin but also increased their growth. For example, Ethereum (ETH) jumped more than 14% to $170 a day. Other currencies are mostly showing more modest growth, but the whole market is in the "green zone".

Gold and Silver’s shining future

On top of signs of slower coronavirus spreading, the authorities are not tired to declare new funds to fight the consequences. Italy has announced a new 400B package, increasing the total amount to more than 800B (about 50% of GDP).

US lawmakers are considering another package “for at least $1 trillion” in addition to the $2.6 trillion.

At the same time, gold and other commodity assets may experience additional growth impulse on the background of widespread money printing by governments around the world.

After the market storm in October 2008, the price of gold tripled within three years,while silver’s value increased by almost six times, from $8 to $50.

Nowadays lower market volatility and a trend reversal on stocks led gold to strengthen by $220, or 13%, in slightly more than two weeks.

Silver rose by almost a 33% at the same time, to $15 per ounce.

https://fxpro.news/daily-forex-outlook/gold-and-silvers-shining-future-20200407/

This week, the interest of our readers remains on the EURUSD (35%), which leads by a wide margin. The uncontrolled movements of the most liquid currency pair in the world attract increased attention and are considered by many as a barometer of market sentiment. The interest for Crude Oil sharply increased (to 26%) following the price rise of last week and the upcoming OPEC + meeting.
About the prospects for oil this month is our next poll.

Futures for S&P500 added 3.0% after 7% jump a day earlier on optimism around slowing the spread of coronavirus and news of more stimulus in Italy (+ 350bn), Japan (>$1 trillion) in the US (+ $ 1 trillion). DAX is growing at 3.8% today, CAC40 by 2.8%, FTSE100 by 3%.

The volatility of the foreign exchange market has grown slightly during the day. DXY stepped back across the market. Commodity-linked currencies are leading the recovery. EURUSD jumped above 1.09. GBPUSD rose above 1.2350.

Earlier today gold spot price rose to $1670, while futures rewrote multi-year highs above $1700. By the start of trading in the US, we see some a correctional pullback.

Brent is trading at $ 34.4 in the spot market, near last week's highs. Information on the upcoming expanded OPEC meeting and call with the Ministry of Energy of many countries is driving prices now.

Investors hope to see flattening growth of the new coronavirus cases and positive impact of stimulus on global economy recovery.

#WaveAnalysis
#Natural gas broke resistance area
Likely to rise to 2,000

https://fxpro.news/market-snapshots/natural-gas-wave-analysis-07-april-2019-20200407/

#WaveAnalysis
Johnson & Johnson (#JNJ) under bullish pressure
Likely to rise to 143.40

https://fxpro.news/market-snapshots/johnson-johnson-wave-analysis-07-april-2019-20200407/

Over the past day, the number of new infections in the world increased by 81.0K against 75.1K a week ago and 73.0K a day earlier. There were 33.3K new cases overnight in the US, which is close to record and does not allow one to speak of a turning point, with total cases exceed 400K. In France, a jump of 11K per day also washed away signs of stabilisation. In large European countries (except France and the UK), there is a further tendency to slower contagion. In the UK and several Scandinavian countries, we see stabilisation, but not decline. A day earlier, China was marked by the absence of new deaths, but today two fatal cases have been identified. Forward-looking markets see this information as the first signals of stabilisation, but the positives are too unstable, as are the attempts of markets to develop recovery.

In the last 24 hours Bitcoin faced pressure around $7,400, dipping to $7,150, but soon returned above $7,300. BTCUSD got support at reduced trading volumes, which may indicate that the recovery is fragile. The Bitcoin Greed and Fear index grew one point overnight, but still in the "extreme fear" zone. The RSI has moved up, but the basis for this price dynamics is still fragile.

Bitcoin Dominance Index fell to 64%, that can be considered a positive sign for the crypto market in general. Investors are buying not only the benchmark coin but also altcoins.

Oil and the euro are bureaucracy victims

This is a case where multilateral negotiations are evil. Comprehensive and coordinated steps turn into an endless chain of talks. This applies to both the oil market and the pan-European support package.

Europe’s bureaucratic machine showed itself in a negative light this morning when the EU could not agree on a €500 billion stimulus package, postponing negotiations to Thursday. These reports turned the euro down, taking about 0.5% in half an hour.

The same can be said about approaching Mega-Opec negotiations. The chances that the US, Canada and, say, Norway will join the agreement are decreasing.

https://fxpro.news/daily-forex-outlook/oil-and-the-euro-are-bureaucracy-victims-20200408/