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The desperation for cash

The desperation for cash | 18 March 2020

18 March 2020, EUR/USD

The desperation for cash

EURUSD trading plan:

Dislocation in the U.S. bond market, where the yield on government debt has gyrated wildly for the past week, illustrates the desperation for cash. Meanwhile the coronavirus only spreads, as country after country adopts draconian social restrictions and a war-footing mentality to try and contain the outbreak. The global death toll is above 7,980, the number of cases is approaching 198,700 and the economic fallout of what is in effect a global lockdown is spiraling. This is a negative signal for the Euro.

Trading recommendation: Sell 1.1030 and take profit 1.0975.

David Johnson
Analyst of «FreshForex» company
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