Coronavirus updates as of May 11:
The United States recorded a significant reduction in deaths per day, with the previous figure being 2,500 per day, but now it's up to 1,000.
In Germany, amid the weakening quarantine, the risk of a new wave of the outbreak is growing.
British Prime Minister Boris Johnson reduced the chances of an early full opening of the UK economy.
Authorities in Wuhan, China decided to conduct a massive testing of all residents.
The chances of a re-outbreak in countries with low number of coronavirus cases that are opening its economy, like Germany, are very high. New quarantine measures may be needed. Meanwhile, countries with high number of patients that are opening their economy, such as Italy, Spain and the US, as well as those who did not close theirs, like Sweden, have a much better advantage.
The outbreak in Russia is still in full swing. Cases increased by 11 thousand per day, so reaching the 3rd place in the highest number of infected may happen today.
The US market is trying to move upwards, but its strength is still lacking. A big second wave of decline is expected, so sale positions are recommended. Take stops behind the latest highs.
Stable growth is not possible in a falling economy.
EUR / USD: The trading range is narrowing. The current trend is nearing its end.
Open buy positions at a break above 1.0875.
Open sell positions from 1.0765.
