Traders Were Hoping for a Stronger Bounce I Guess…
So far, the recovery from Friday’s carnage is, let’s say, pretty mild. The same mild as apparently, the symptoms from the new coronavirus strain are. That information was about to drive today’s reversal but as you can see, traders are not encouraged to buy the dip at this point.
Gold is defending the mid-term up trendline.
SP500 bounced during the Asian session but the European one does not start well.
DAX is giving back almost all gains from the Asian session.
USDJPY continues the downswing after the breakout of the mid-term up trendline.
EURJPY drops after breaking crucial horizontal support.
AUDNZD continues a very technical movement by creating a wedge finishing the correction on the 38,2% Fibonacci.
USDCHF is trading lower after the false breakout from the symmetric triangle.
The Mexican Peso continues the weakening to USD and EUR despite quite a good opening after the weekend.
For a look at all of today’s economic events, check out our economic calendar.