Japanese medics reported a successful experiment in the fight against coronavirus. They were helped by the drug nelfinavir, which blocks the reproduction of SARS-CoV-2. The document says that the proven remedy for coronavirus infection has not yet been invented, so it is necessary to test existing drugs - mainly those commonly used to treat people with HIV. Following the use of nelfinavir, a decrease in the replicative activity of the causative agent COVID-19 has been observed. A total of nine drugs have been tested by Japanese physicians.
EUR/JPY, 30 min
Pivot: 118.43
Analysis:
Provided that the currency pair is traded below 118.57, follow the recommendations below:
The timeframe: 30 min
Recommendation: short position
Entry point: 118.01
Take Profit 1: 117.16
Take Profit 2: 116.78
Alternative scenario:
In case of broken-out of the level 118.57, follow the recommendations below:
The timeframe: 30 min
Recommendation: long position
Entry point: 118.57
Take Profit 1: 119.22
Take Profit 2: 119.60
Comment:
RSI is below 30. This may mean that either the pair is in a steady downtrend or it is simply oversold and therefore a rollback may form (look for a bullish divergence in this case). The MACD is below its signal line and is negative. The configuration is negative. Moreover, the pair trades under its 20 and 50 moving averages (at 118.31 and 118.48, respectively).
Key levels:
Resistance
Support
119.60
117.16
119.22
116.78
118.57
116.39
EUR/JPY, D1
Pivot: 118.47
Analysis:
While the price is below 122.08, follow the recommendations below:
Time frame: D1
Recommendation: short position
Entry point: 118.47
Take Profit 1: 112.19
Take Profit 2: 109.54
Alternative scenario:
If the level 122.08 is broken-out, follow the recommendations below.
Time frame: D1
Recommendation: long position
Entry point: 122.08
Take Profit 1: 126.57
Take Profit 2: 129.54
Comment:
The RSI is below its neutral area at 50. The MACD is below its signal line and is negative. The configuration is negative. Moreover, the pair is traded under its 20 and 50 moving averages (118.70 and 119.37, respectively).
Key levels:
Resistance
Support
129.24
112.19
126.57
109.54
122.08
106.89
We also advise you to pay attention to the following currency pairs for intra-day trading:
EURUSD – sell below 1.1030 with 1.0780 and 1.0630 as Take Profit targets. Alternative scenario - if the level of 1.1030 is broken-out, you should consider buying with the targets 1.1145 and 1.1230 as Take Profit. GBP/USD - long positions above 1.2443 with 1.2510 and 1.2570 targets as Take Profit. Alternative scenario - if the level of 1.2443 is broken-down, sell with the targets 1.2360 and 1.2315 as Take Profit. EUR/GBP - sell below 0.8817 with 0.8695 and 0.8658 targets as Take Profit. Alternative scenario - if the level 0.8718 is broken-out, sell with the TP 0.8878 and 0.8914.
WHY TRADE WITH PAXFOREX?
We are one of the fastest growing Forex Brokers in the Market. Trade with PaxForex to get the full Forex Trading experience which is based on...
