CommoditiesForexMarket Review

40K cases of Covid-19 a day!

For the 5th day now the US has reported 40k cases daily, while the UK has seen its lowest number in 12 weeks, nevertheless, there are countries globally preparing for a second lockdown, and the WHO organization has announced that the impact will be harder on the second wave of infections. This would mean that all the artificial buying and rising prices of stocks will come to a halt and the companies struggling to survive this economic climate may crumble.

For today we are expecting a stronger dollar, while we did not hit objective yesterday we are expecting to see price move towards them today, as yesterday we can see that we are truly in the NFP week and unexpected moves as seen in GBPUSD can present themselves before the unemployment data is released, keep the risk tight through the week.

EURUSD: SELL

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Our target is 1.1160

GBPUSD: SELL

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Our target is 1.2170

USDCAD: BUY

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Our target is 1.3740

GOLD: SELL

Our target is 1740.05

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