COVID-19 continues to sweep nations. According to Johns Hopkins University, the number of infected in the United States has surpassed 143,000 and Italy’s lethal cases are nearing 11,000. President Donald Trump has announced an extension of quarantine measures to at least April 30th while the government continues to meet and discuss the situation to take appropriate measures.
Shares in the health care sector are the winners this Monday open. Abbott Laboratories (ABT) have come up with a 5-minute testing kit for the coronavirus and opened with a bullish gap of close to 10% from Friday’s close, while Johnson & Johnson (JNJ) rose by over 5% after unveiling a possible vaccine candidate. On a daily TF the U.S. Dollar index (DXY) broke the four-day bearish streak, broke above 48EMA and currently trading around 99.10 resistance; S&P500 (SPX) is making a slow advance up, currently trading around 2577, using 13EMA as support; the Dow Jones (DJI) is also trading slightly above 13EMA as support around 21850.
According to Bloomberg President Donald Trump is planning to speak to President Vladimir Putin about Crude oil. Throughout the day, we see multiple attempts for crude to dip below $20 per barrel. Brent oil is trading around 25.91. Gold 1622 per troy ounce.
EUR/USD on a Daily TF lost as much momentum as the US Dollar index rose. The pair dropped to 48EMA as support and currently trading below 23.6% Fibo around 1.10222.
Resistance: R1 23.6% Fibo 1.10555, R2 200EMA 1.10938 - 1.11, R3 1.11500.
Support: S1 48EMA 1.10110 - 1.10, S2 1.09500, S3 1.09.
GBP/USD on a Daily TF has been trading rather flat. After rising more than 6% during last week, the pair is trading around 1.24.
Resistance: R1 1.24900, R2 48EMA 1.25645, R3 200EMA 1.27529.
Support: S1 1.22800, S2 1.21300, S3 1.20500.
USD/JPY on a Daily TF touched 108.265 resistance then dropped to 107.095 support and currently trading around 108.095. 13EMA is intersection 200EMA down. All 3 EMAs (13,48,200) are around 108.800.
Resistance: R1 108.300, R2 108.729 – 108.872, R3 109.500.
Support: S1 107.686, S2 107.122, S3 106.753.