Corona virus summary:
Germany risks damaging its recent achievements in subduing the spread of Covid-19, Angela Merkel has warned, admonishing regional leaders and party representatives for trying to rush their way out of lockdown restrictions.
Some smaller, non-essential stores reopened their doors in Germany this week as state authorities started to ease physical distancing measures introduced a month ago.
The country's decentralised political system has allowed some of the 16 federal states to surge ahead with special exemptions for local businesses, such as North-Rhine Westphalia allowing the opening of larger furniture stores.
Technical analysis:
EUR/USD has been trading downwards. The price tested the level of 1,0755. Anyway, I found that there is potential for the fake breakout of the 20-day low at the price of 1,0770, which is good opportunity for the long positions.
Trading recommendation:
Watch for potential buying opportunities due to fake breakout of the 20-day low at the price of 1,0755. The upward targets are set at the price of 1,0810 and 1,0855.
Stochastic oscillator is showing oversold condiiton, which is sign that sellerrs got exhausted....
Support level is set at 1,0770.
