ZuluTrade Blog

Major Stocks surging before the US open

Market View | Tuesday, April 14, 2020 3:14 PM GMT

The markets are mixed as we speak and obviously, every Stock Index gets biased due to COVID-19 daily numbers that are announced in each country. UK100, FR40, and AEX are flirting with the negative territory as the coronavirus outbreak hasn’t yet slowed down. On the other hand, GER30, IBEX and FTSE MIB are slightly rising as the trend continues lower and this gives hope that the stabilization is close. 

Italy’s Daily New Cases

Spain’s Daily New Cases

Source Worldometers

Due to this, Spain decided to lift gradually the tight restrictions as they are already running in the second month of lockdown. Italy and France consider proceeding to similar actions. Reviewing the daily chart of GER30, the index may be forming an ABCD pattern targeting the 61.8% Fibonacci level.  

CopyTrade with ZuluTrade

GER30 daily chart

Heading to the US market, the pre-trading session looks bullish as US president, Donald Trump believes that there is “clear evidence that our aggressive strategy to combat the virus is working. Over the weekend, the number of daily new infections remained flat, nationwide flat,”. Major Stocks are moving higher like Roku, Tesla, Norwegian Cruise Line, Royal Caribbean Cruises, Park Hotels & Resorts and more. Today the US market expects 52 earning releases

Heading to the forex market, EURUSD bounced on 20SMA and its back to 50% Fibonacci level. GBPUSD is attempting to close above major resistance at 1.2486. If so, then the next resistance is at 1.2725. GBPUSD continues its impressive rally to the upside. As said yesterday, the next major resistance is at 1.2725. USDJPY moves in a downtrend and its back on a break or make support at 107.2. 

EURUSD daily chart

GBPUSD daily chart

USDJPY daily chart

Checking the ZuluTrade’s Traders Sentiment, the community is buying GBPUSD and USDJPY while is selling EURUSD, and GBPJPY.

In focus today (economic calendar):

UnitedStates - Import Price Index


The views expressed do not constitute investment or any other advice /recommendation /suggestion and are subject to change. Reliance upon information in this material is at the sole discretion of the reader. Opinions expressed in the report do not represent the opinion of ZuluTrade Social Trading Platform and do not constitute an offer or invitation to anyone to invest or trade.

Comments are closed

Trading spot currencies involves substantial risk and there is always the potential for loss. Your trading results may vary. Because the risk factor is high in the foreign exchange market trading, only genuine "risk" funds should be used in such trading. If you do not have the extra capital that you can afford to lose, you should not trade in the foreign exchange market. Forex Brokers and ZuluTrade are compensated for their services through the spread between the bid/ask prices or there may be a cost to initiate a trade through the bid/ask spread. Signing up is totally free, and there is NO contract and NO monthly fees, ever.

This blog is for informational purposes only. This blog is not intended for distribution channels and may not be reproduced or distributed without the permission of Zulu Trade ltd or any of its affiliated entities (“ZuluTrade”). All opinions, news, prices or other information contained in this blog are provided as general market commentary and this report does not contain and it is in not to be considered in any circumstance as market analysis, offer or solicitation to buy or sell any financial instruments, personalized or general recommendation for any investment decision or investment strategy by ZuluTrade, in any jurisdiction in which such offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. The information contained in this blog should not be construed as financial or investment advice on any subject matter. The financial instruments referred to herein may not be suitable for all investors and any investments on such financial instruments requires the assessment by each investor and its counsels of the investor’s investment characteristics, including the investment risks which the latter is willing to assume. This blog has been based on information which has been made public, obtained from sources believed to be reliable, but it has not been verified by ZuluTrade. No representation or warranty (expressed or implied) is made as to the accuracy, completeness, correctness, timeliness or fairness of the information or opinions herein, all of which are subject to change without notice. No responsibility of liability whatsoever of howsoever arising is accepted in relation to the contents hereof by ZuluTrade or any of its directors, officers, employees. Further, no representation is being made that any results will be achieved, and past performance is not indicative of future performance.