Dear, today I was surprised by a large number of private messages in the MQL5 chat, many people desperate with long positions in the EURUSD pair, people want to know if the EURUSD goes up again this year, as they fear many losses.
Dear before the countless requests, I inform:
How markets can continue to see the shared currency as a second wave of COVID-19 contagions clearly materializes on the old continent. Yesterday, France and Spain recorded the highest daily case count since the pandemic began, and this morning, Germany reported its greatest daily contagion since April 24. Although the increase in testing is behind part of the increase, test positivity rates are rising reasonably fast, especially in Spain, where last Saturday ~ 11% of tests were positive (7-day MA) compared to " only "4% two months ago; in France, it went from ~ 1% to ~ 7% today. The most recent increase in cases certainly puts the Eurozone economy at greater economic risk, as some virus restrictions are reimposed and act against the economy of the bloc that outperforms the US - at least for now, except for a third US wave. The ECB's Villeroy noted that he is open to changing the bank's inflation target, allowing it to function above the target for some time; lower rates for longer would act to contain some of the euro's gains against the US dollar, which has worried some ECB members.
Considering that the wave of COVID-19 can also grow in other strong economies until we are all vaccinated, it is difficult to have a notion of a trend for just one pair, since the virus is worldwide, but it is worth calling attention to the increase. volatility between several currency pairs, I made a technical analysis that shows a scenario for EURUSD, personally I have been trading Long and Short on EURUSD with Maryland FX, but I have a different algorithm, not everyone wants to have the same technology. At a time when there are many providers of nervous signals who have no idea what is going on in the world, they are nervous right now. Providing a trading signal is more than that, it needs to be differentiated.
