Investors are weighing in the potential of the second wave of the virus hit, the movement across the Forex market is relatively cautious.
Tag - eur
EUR/USD recovered from the March-April support line and formed a “Piercing line” candlestick pattern on the D1.
The market is submerged into an overall risk-off mood, with the AUD getting strong on recovering China and the GBP boosted by the BOE announcements, while the USD and the EUR are weak.
The German court made a surprising decision on May 5 that the European Central Bank's mass bond-buying violates the German constitution.
April seasonal patterns weren’t supposed to work, but somehow they did. Even a strong fundamental issue such as the global recession amid the coronavirus couldn’t overwhelm it. That’s why May seasonal patterns may work as well.
On April 30 at 14:30 MT time the ECB will unveil its future measures to support the euro zone economy.
The Fed and the ECB planning to expand the economic stimulus package make the USD and the EUR lose value.
The European Central Bank will unveil the refinancing rate and make the monetary policy statement on April 30 at 14:45 MT.
Watch the video to find out how to trade the USD!
The risk sentiment remains positive, but for how long?
These days we’ve got a quite busy market and a really interesting environment. Events below will add more market volatility!
This week the meetings of the Federal Reserve and the European Central Bank will be in the center of market's attention.