As we can see on the S&P 500 chart, the US market rose again on Tuesday.
Fundamentally, this growth is completely surprising. The pandemic is still raging in the US, and disaster measures have been introduced in all states. Most businesses are closed due to quarantine, and unemployment is growing at an unprecedented rate. Moreover, the economy is close to a severe recession, and the stock market is growing.
The only reason for growth is the huge infusion of liquidity from the Fed, which is just a temporary factor.
In the coming days, the market will reverse, and you can start selling the pair by then.
Coronavirus update:
On Tuesday, there was a jump in the number of deaths caused by coronavirus in the United States - +2,407 per day. Before this, the death toll was falling for several days. Nevertheless, the good news is that the number of new cases is steadily decreasing from April 10 (+37,500 new cases) to April 14 (+ 27,000). The infection rate has reduced to +4.5% per day. Unfortunately, the total number of infected across US is huge - 614,000. All in all, 26,000 have died from the coronavirus.
In Europe, France and Britain rank first as the countries with the largest number of deaths per day (France - 760 deaths per day; Britain - 780 deaths per day). Nevertheless, the growth of new cases is kept at +5% in France, and +6% in Britain. In Italy, the number of deaths stabilized at +500 per day, while in Spain, +600 per day. The situation in other European countries is much better. Austria is already slowly easing the quarantine measures.
EUR/USD
Euro is trying to rise. Unfortunately, it is not strong enough, so a reversal and a decline is very likely to happen instead.
Keep buying from 1.0930. Buy positions can also be opened from 1.0970.
Open sell positions from 1.0765.
