120,000 diagnosed in the United States, 700,000 broken globally

[Focus on today] Monday, March 30, 2020

① 08:00 Monetary Policy Statement of the Monetary Authority of Singapore

② 15:00 Swiss KOF Economic Leading Indicators in March

③ 16:30 UK central bank mortgage permit in February

④ 17:00 March Eurozone Industrial and Economic Prosperity Index

⑤ 17:00 Euro zone final consumer confidence index in March

⑥ 20:00 German CPI monthly rate in March

⑦ 22:00 U.S. February existing home contract sales index monthly rate

⑧ 22:30 U.S. March Dallas Fed Business Activity Index

Fundamentals:

[Friday (April 3) released March non-farm employment data]

① The blockade measures taken to curb the epidemic brought the U.S. economy to a standstill and triggered a large number of layoffs. The number of jobless claims rose sharply to a record high of more than 3 million people last week, which may indicate that the longest-running employment boom in American history is at The month ended, and further deteriorated in April; ② Economists worry that the epidemic may cause the worst downturn in the U.S. economy; ③ According to the median estimate of analysts, the U.S. non-farm employment population is expected to decrease in March 290,000 people, the unemployment rate may jump from a low of nearly 50 years to 4.0%;

 

[Saudi rejects OPEC emergency consultations] According to a foreign media report on Saturday citing an OPEC representative, OPEC’s rotating presidency proposed an emergency meeting to assess the market situation of the plunge in oil prices, but it was opposed by most member states, with Saudi being the biggest opponent one. Sources said that other OPEC members did not recognize the effect of such a meeting because the oil war between Saudi Arabia and Russia needed to be resolved by their respective leaders.

 

[US President Trump officially signs US $ 2 trillion economic stimulus bill]

US President Trump officially signed a $ 2 trillion economic stimulus bill on Friday to address the impact of the new crown pneumonia epidemic on the US economy. This means that the bill is officially in force. Morgan Stanley economists said the $ 2 trillion stimulus package was not enough to bring the US economy back to stability.

 

[UK needs at least 6 months to return to normal life] On March 29th, at a daily press conference, Dr. Jenny Harris, Deputy Chief Medical Officer of England and England, said that the UK may take 6 months or even It takes longer to resume normal life.

 

[IMF President: The world economy has fallen into recession] IMF President Georgiyeva warned on the 27th that the new crown virus has brought the global economy into recession, and countries must respond with “extremely large-scale” expenditures to avoid a series of bankruptcy and emerging Market debt default. Emerging market countries need at least $ 2.5 trillion in financial resources to weather the crisis, but their own internal reserves and market borrowing capacity cannot meet this demand.

Technical side:

XAUUSD:

(Golden 1H chart)

From the gold 4-hour chart, the Yin line is engulfed. From the 1-hour chart, the market fluctuates at a high level above the trend line and can sell high and sell low.

Pressure level: 1634

Support level: 1596

Operating strategy: short near 1634, target 1600, stop loss 1638

EURUSD:

(EURUSD 1H chart)

From the 1-hour chart of the euro against the US dollar , there are four waves of callbacks on the wave structure. There are also five waves of rising near the uptrend line.

Pressure level: 1.1140

Support level: 1.0960

Operation strategy: Go long near 1.0970, target 1.1070, stop loss 1.0930

GBPUSD:

(GBPUSD 1H chart)

From the perspective of the daily sterling against the US dollar, the market rises to near the pressure of the BOLL mid-rail, and the probability of a short-term correction is greater.

Pressure level: 1.2720

Support level: 1.2160

Operation strategy: Go long near 1.2160, target 1.2450, stop loss 1.2120

USOIL:

(USOIL 1H chart)

From the daily view of the US crude oil, the moving averages are short, and the gap in the early trading gap opened lower and broke a new low. The 1-hour chart runs below the trend line. Due to the global spread of the new crown virus, crude oil may still be in a downturn for a short period of time.

Pressure level: 21.5

Support level: 19

Operation strategy: short around 21.5, target 20, stop loss 22

US30:

(US30 1H chart)

From the perspective of the US Dow 1-hour chart wave structure, after the 5 waves of driving waves finish, the ABC adjusts the wave. At present, the B wave rebounds, and it will be short after the rebound ends.

Pressure level: 22290

Support level: 20700

Operation strategy: short near 22250, target 21100, stop loss 22350

*************** Notes for trading **************

1. Follow the trend and keep in mind of risk control

2. Entry can be added or minused by 5 pips, exit can be added or minused by 5 points

3. It is recommended to take half of the profit after 50 pips of profit, and the rest position with stop loss of entry.

4. Orders that arrive at the entry point before 12 pm are valid, and subsequent orders are invalid. (Unless specified)

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(The above personal strategy is written based on the objective and independent principles. It is for reference only and does not represent any direct operational advice to investors. Investors will be responsible for the profits and losses of the market.

MYFXSchool Analyst: Michael

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