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31.03.202009:56 Forex Analysis & Reviews: Trading plan for EUR/USD on March 31, 2020.

Exchange Rates 31.03.2020 analysis

EUR/USD: the movement in the market has stopped. The pair is currently consolidating.

Despite the extremely negative background from the pandemic and the economy, the US market rose yesterday, probably due to the Fed's money injection, as well as the strength of the US and other countries' government. Nevertheless, a new wave of decline is still expected, as new data on the economy will be reported starting from Wednesday, April 1. These economic reports for the month of March will most likely be very negative.

EUR/USD: Buy from 1.1150.

Sell from 1.0635.

Update on the pandemic: As of this moment, there's 787,000 infected people all over the world ever since the virus started. 38,000 have died.

However, the actual number of infected is much higher (see the material in my "Trader's Diary", where a detailed report on the number of infected, according to my method, is included).

WHO noted that the growth of the number of infected people in Italy and Spain has started to slow down, and the number of deaths per day has also decreased.

The quarantine measures might have finally started working.

There are also clear signs that the pandemic is slowing down in other European countries.

In Russia, Moscow and St. Petersburg is in quarantine.

Meanwhile, in the US: the number of infected people in the country continues to grow very rapidly. As of this morning, the number of confirmed COVID-19 cases is 164,000.

3,200 have died already, but unfortunately, it might still increase.

Anyhow, we are waiting for data on the economy, which will be released from Wednesday until Friday.

*这里的市场分析是为了增加您对市场的了解,而不是给出交易的指示。

Jozef Kovach,
Analytical expert of InstaForex
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