ZuluTrade Blog

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Market View | Monday, June 29, 2020 12:52 PM GMT

Global Covid-19 cases exceed 10.2 Million while the death toll reached 504k based on John Hopkins. US and Brazil are the two epicenters of the virus with 2.6mil and 1.45mil cases respectively. Two of US states, Florida and Texas, forced to roll back some of their reopenings as both reported a spike at the weekend. 

Reading major business news, Facebook shares lost around 8% as many companies announced that they won’t include FB in their advertisement campaigns. The list is getting bigger and includes Pepsico, Starbucks, Levi’s, and more. This comes because of FB’s failure to contain and stop the spread of hate and racism according to the Anti-Defamation League (ADL) and the NAACP. 

Additionally, there was the first file of bankruptcy from Chesapeake Energy because of oil collapse. The company was a pioneer in extracting natural gas from shale rock across the US. Guillaume Faury, CEO of Airbus, said that they expect a potential fall in revenue of some 40% at news magazine Spiegel.


Asian markets closed in red while EU markets are slightly positive. DAX rises 0.79%, CAC40 0.35% and FTSE100 0.37%. The technical picture is not clear as most indices are consolidating in the daily timeframe anticipating a catalyst event.

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Heading to the forex market, EURUSD is still moving in a range (1.1146 - 1.1413). USDJPY is moving above both MAs (20EMA and 50SMA) but still below the major resistance 107.55. GBPUSD is flirting with major support (1.2336).AUDUSD is forming a triangle but is still ranging. 

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EURUSD 240m chart

GBPUSD 240m chart

USDJPY 240m chart 

AUDUSD 240m chart

Checking the ZuluTrade’s Traders Sentiment, the community is currently bullish on GBPJPY and USDCAD, while bearish on EURUS, GBPUSD and USDJPY.

In focus today (economic calendar):

UnitedStates - Michigan Consumer Expectations


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.

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