27.03.202015:55 Analytische Bewertungen Forex: EUR/USD analysis for 03.27.2020 - Bull flag patten on the 4-hour time frame, buying opporrtunities very hot at the level around 1.0950. Potential for test of 1.1165

Corona virus news:

Exchange Rates 27.03.2020 analysis

Chinese president Xi Jinping has called on Donald Trump to take "substantive actions" to improve relations between the two countries, as China prepared to shut its borders to foreign arrivals amid fears of infections coming from abroad.

On Friday, Trump and Chinese president Xi Jinping held a phone call about the coronavirus outbreak in an attempt to repair strained relations, following weeks of traded barbs over the virus. According to state media, Xi told Trump in a phone call on Friday that US-China relations had reached an "important juncture".

"Working together brings both sides benefits, fighting hurts both. Cooperation is the only choice," he said. Xi said he hoped the US would take "substantive actions" to improve US-China relations to develop a relationship that is "without conflict and confrontation" but based on "mutual respect and mutually beneficial cooperation."

Technical analysis:

EUR/USD has been trading downwards today towards the level of 1.0950. The short-term trend is still bullish and the preferarble strategy for the current condition is to buy the dips using the 120/240 minute time-frames.

Based on the 4H time-frame the EUR/USD is on the bull flag pattern and the upward trend, which is sign that buyers are still in control. Watch for buying opportunities with the main targets at 1.1090 and 1.1165.

MACD oscillator is showing positive reading above the zero and the slow line bullish.

Resistance levels are set at the price of 1.1090 and 1.1165,

Support levels are set at the price of 1.1050 and 1.1030.

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

Viele Grüße,
Analytiker: Petar Jacimovic
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