Source: PaxForex Premium Analytics Portal, Technical Insight

Dallas R. Kaplan, President of Fox Business, said in an interview:

1. According to his baseline scenario, the US GDP will decline by 4.5-5.0% in 2020;

2. In the 3rd and 4th quarters, the US GDP is expected to grow;

3. The economy is experiencing surplus production capacity and expects disinflation;

4. The economy will grow faster if we all wear masks;

5. 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:

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:

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.