Action Insight Weekly Report 3-22-20

Dollar in Strong Rally as Coronavirus Pandemic Worsened, Key Resistance Levels Broken

Action Insight Weekly Report 3-22-20 Dollar in Strong Rally as Coronavirus Pandemic Worsened, Key Resistance Levels Broken The anticipated market stabilization didn't happen last week. Instead, despite massive monetary and fiscal stimulus, stocks around the world still ended sharply lower. Nevertheless, as stocks are showing sign of loss of downside momentum. Treasury yield has somewhat stabilized in range. We'd see that the rock bottom in investor sentiment should be around the corner. In particular, it would be a big relief if coronavirus spread in Europe begins to slow, while situation in the US would be contained. But that's still two big "ifs". In the currency markets, Dollar ended as the strongest one, followed by Yen and Swiss Franc. The strong rally in Dollar Index and break of 1.0777 low in EUR/USD are important developments that point to more upside in the greenback ahead. On the other hand, Australian Dollar ended as the worst performing one, followed by New Zealand. Parity in AUD/NZD would be the make or break point for Aussie. Full Report Here Central Bank Views | China Watch | Oil N' Gold | Special Topics EUR/USD Weekly Outlook EUR/USD dropped sharply week and broke 1.0777 support to close at 1.0692. The development suggests larger down trend resumption. Initial bias stays on the downside this week for 1.0397 projection target next. On the upside, break of 1.0981 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery. Full Report Here EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY Recommended Readings Weekly Economic and Financial Commentary: Shock and Awful COVID-19's Threat to Canada's Vulnerable Workers Foreward Guidance: Economic Data to Get Worse (Before It Gets Better) The Canadian Dollar Down in LockStep With World Oil Prices The Weekly Bottom Line: Policy Bazookas on Display Week Ahead: The Wheels are in Motion Oil Market Week Ahead: Hunkering Down Week Ahead – Tougher Times Ahead? Large Bounce in AUD/USD, But is it Enough? The Big Picture: Global Fiscal and Monetary Responses to COVID-19 Week Ahead – Emperor Dollar Reigns Supreme Amid Market Apocalypse Weekly Focus: Biggest Market Turmoil Since Global Financial Crisis Fundamental Analysis | Technical Analysis In-depth Reports The Canadian Dollar Down in LockStep With World Oil Prices The Big Picture: Global Fiscal and Monetary Responses to COVID-19 COVID-19's Threat to Canada's Vulnerable Workers The Corona Crisis: A Global Recession But Not for Long Is the Federal Reserve Out of Ammunition? The World Has Changed

Action Forex Company Limited | Room 804, 8/F. , Prosperity Centre, 982 Canton Road, Mongkok, Kowloon 852 Hong Kong SAR China Unsubscribe mondemand.forex@blogger.com Update Profile | About Constant Contact Sent by contact@actionforex.com in collaboration with Try email marketing for free today!