Source: PaxForex Premium Analytics Portal, Technical Insight
Dallas R. Kaplan, President of Fox Business, said in an interview:
According to his baseline scenario, the US GDP will decline by 4.5-5.0% in 2020;
In the 3rd and 4th quarters, the US GDP is expected to grow;
The economy is experiencing surplus production capacity and expects disinflation;
The economy will grow faster if we all wear masks;
Considers it appropriate and appropriate for the Fed to act in the current crisis.
EUR/USD, 30 min
Pivot: 1.1446
Analysis:
Provided that the currency pair is traded above 1.1410, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 1.1446
- Take Profit 1: 1.1465
- Take Profit 2: 1.1480
Alternative scenario:
In case of breakdown of the level 1.1410, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 1.1410
- Take Profit 1: 1.1400
- Take Profit 2: 1.1375
Comment:
RSI is bullish and indicates a further increase.
Key levels:
Resistance | Support |
1.1500 | 1.1410 |
1.1480 | 1.1400 |
1.1465 | 1.1375 |
EUR/USD, D1
Pivot: 1.1450
Analysis:
While the price is above 1.1280, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.1450
- Take Profit 1: 1.1565
- Take Profit 2: 1.1680
Alternative scenario:
If the level 1.1280 is broken-down, follow the recommendations below.
- Time frame: D1
- Recommendation: short position
- Entry point: 1.1280
- Take Profit 1: 1.1180
- Take Profit 2: 1.1070
Comment:
RSI shows the possibility of an uptrend in a medium term.
Key levels:
Resistance | Support |
1.1800 | 1.1280 |
1.1680 | 1.1180 |
1.1565 | 1.1070 |
We also advise you to pay attention to the following currency pairs for intra-day trading:
USD/CAD – buy above 1.3565 with 1.3600 and 1.3625 targets as Take Profit. Alternative scenario - if the level 1.3565 is broken-down, sell with the TP 1.3550 and 1.3530.
GBP/USD - short positions below 1.2555 with 1.2510 and 1.2485 targets as Take Profit. Alternative scenario - if the level of 1.2555 is broken-out, buy with the targets 1.2575 and 1.2590 as Take Profit.
AUD/USD – sell below 0.6995 with 0.6970 and 0.6960 as Take Profit targets. Alternative scenario - if the level of 0.6995 is broken-out you should consider buying with the targets 0.7005 and 0.7015 as Take Profit.