[Global Forex] European epidemic rebounds, the dollar soars to a six-week high (with operational recommendations)

European stocks fell to a two-week low, US stocks fell, and the US dollar index was under pressure in early trading. The dollar rose against the yen after hitting a six-month low.
The EUR/USD fell 0.56% to 1.17613 US dollars, with support at 1.16. GBP/USD fell 0.73 to 1.28126; USD/GBP rose 2.2% to 0.78, the highest since mid-July.

The AUD/USD was quoted at 0.72125; USD/CAD dollar was at 1.3308; and the USD/JPY was at 104.517 yen.

In recent weeks, the number of pneumonia diagnoses in the UK has surged again. On Sunday (20th), 3,899 people were newly diagnosed. British Prime Minister Johnson will hold an epidemic meeting today. The Minister of Health revealed that if the public is unwilling to abide by the epidemic prevention regulations, the city will not be ruled out again. Measures.

The World Health Organization (WHO) warned last week that the cumulative number of confirmed cases of new coronary pneumonia worldwide has exceeded 30 million, and the death toll is close to 1 million. There are still 50,000 deaths due to new coronary pneumonia every week. The outlook for the euro is under pressure.

Operational recommendations (Source: Trading Central)

Pivot: 1.1795

Our preference: short positions below 1.1795 with targets at 1.1730 & 1.1710 in extension.

Alternative scenario: above 1.1795 look for further upside with 1.1825 & 1.1850 as targets.

Comment: as long as the resistance at 1.1795 is not surpassed, the risk of the break below 1.1730 remains high.

Supports and resistances:

1.1850

1.1825

1.1795

1.1756 Last

1.1730

1.1710

1.1700

Guideline for Trading Central strategy

Trend chart reading guideline
1. First look at the time period in the upper left corner of the chart：
・30MIN and 1H chart shows the trading suggestions for intraday
・Daily chart shows the market trend analysis in next 2-3 days

2. The blue horizontal line on the chart marks the pivot: pivot indicates the reversal of the market. When the price is above the pivot, it indicates an upward trend, when the price is below the pivot , it indicates a downward trend. When the price breaks through the pivot, the trend is reversed.

 1.    The red and blue thin curves in the Candlestick chart chart are technical indicators: Red line is MA20+Bollinger bands, Blue line is MA50. under the Candlestick chart chart are also the technical indicators:  Blue line is RSI, Red line is 9MA;

4. The green horizontal line is the resistance level for a price increase, and is also the profit target for long orders; the red horizontal line is the support level for a price decrease, and is also the profit target for short orders.

How to use TC strategy？
1.[Pivot] is the reversal line of the market trend. When the price up the pivot line which means in Bullish, you can open a long position or Buy. on the contrary, when the price under pivot line which means in bearish. You ‘d better make short positions or Sell.
2. [our preference] is the main trading suggestion for your reference. You can exit your trading refer to this target or close positions before it.
3. [Alternative scenario] is the plan B for your reference.
4. [Comment] is the technical analysis of market trends and technical support for trading strategies.
5. [Supports and resistance] Supports are levels where the price tend to find support as it falls.
Resistances are levels where the price tend to find resistance as it rises. So, exit before the trend reverse.