Corona virus news:
EU's chief Brexit negotiator tests positive for virus.
From French officials :" the number of cases is doubling everyday ", 89 deaths in 24H, 9134 cases ( and France only tests when you're ill) and 931 people in ICU. Half of people in ICU are under 60 years old and 7% of people who passed away were under 65 years old.
The situation is becoming worst in Europe and that is reflected negative also on the EUR/USD chart.
Technical analysis:
EUR/USD has been trading downwards as I expected yesterday. Our downward target has been reached at the pice of 1.0820. Anyway, the breakout of the Pitchfork parallel line confimed new potential downside brreak and test of 1.0580-1.0500.
My advice is still to watch for selling opportunties on the rallies using the intraday frames 15/30 minutes with the main target at 1.0500 (Pitchfork Warning line 1).
MACD oscillator is showing new momentum down, which is strong sign of the bearish pressure.
Resistance level is set at the price of 1.0800
Support levels and downward targets are set at the price of 1.0580 and 1.0500.
