Evening review for EUR/USD for April 6th. Market optimism caused by expectations of epidemic decline

By | April 6, 2020
InstaForex
Evening review for EUR/USD for April 6th

Relevance up to 07:00 2020-04-07 UTC–7

analytics5e8b3c3e1d45e.jpg

As we can see on the chart, S&P500 is moving up.

There is a rise amid expectations of the coronavirus decline in the US.

Coronavirus:

In Europe, the situation is improving. In Italy and Spain, a number of deaths ( around 500 and 700) dropped from the highest level of 1 thousand people a day. A number of infected people is advancing by 6%-7% every day.

In the US, the total number of infected people is 337 thousand. In New York, a number of confirmed coronavirus cases is 123 thousand. Of course, it is too much for such a city. Nevertheless, a number of new cases is below 10% a day (+7%).

Reports on coronavirus from the US are really fresh. The data is expected to be confirmed during the next two days.

This week can become a pivot point for the US.

In Russia, the epidemiological situation is getting worse and worse. A number of new cases grew by 15% a day to 6,346 people. More than 70% of all cases were recorded in Moscow.

analytics5e8b3de530f25.jpg

EUR/USD

Buy positions can be opened at 1.1040.

Sell positions can be opened at 1.0635.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Sam Alan,
Analytical expert
InstaForex Group © 2007-2020

Benefit from analysts’ recommendations right now

Top up trading account

Get a bonus from InstaForex

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.