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Market Outlook
ZFX: Risk appetite restored? Good news seen by some investors - Zeal Capital Market

ZFX: Risk appetite restored? Good news seen by some investors

31-03-2020 03:04

Review:  On Monday (March 30), the financial market sentiment was lifted after some “good” news came out in the US session time. Investor confidence was stabilized, stimulating the three Wall Street indexes to rise, more than 3%. Trump said that the national social distancing guidelines will be extended to April 30, which lowered the market concerns about the epidemic causing long term damage to the economy.

In addition, Trump said he had a phone call with Russian President Putin to discuss the oil prices situation. The market believed that the US will be more actively to involve in the oil market, mediating the oil price war between Saudi Arabia and Russia. It was reported that the US and Russia agreed to continue to communicate. The news stabilized the recent downward trend of oil prices, which is also good for investment sentiment.

Also, during the US session, it is reported that companies have made progress in developing new coronavirus vaccines, further boosting the market.

The number of newly confirmed cases of new coronavirus continues to increase by “tens of thousands” worldwide, with the latest confirmed cases exceeding 780000 and more than 37000 deaths. The U.S. epidemic remains the worst, with 160000 confirmed cases and nearly 3000 deaths. Trump said the peak of the outbreak has not yet reached.

ZFX analyst Jacob Leung said that there was no sign of improvement in the epidemic and it is expected that the financial market sentiment will remain unstable. Risk aversion may be heightened due to the expectation of poor performance of economic data released this week, including consumer confidence index, ADP, ISM and Nonfarm payroll.

About the market trends, the dollar index bounced back to 99 level. Gold price continued to be ranging above $1600. The weak situation of oil market remained unchanged, hitting another 18-year low, and US WTI crude oil futures once fell to $19.27 per barrel. ZFX analyst Jacob Leung said that the rebound of the dollar may be caused by a certain degree of technical correction, but also reflected that the market is still preparing for the potential risk.

AUD/USD

 ZFX: Risk appetite restored? Good news seen by some investors - Zeal Capital Market

Market theme / sentiment: The market sentiment remains good and the Australian dollar is hovering at recent highs.

Support level: 0.6150; 0.6120 Resistance level: 0.6190; 0.6250

Recommendation: 0.6160 long, target 0.6180, stop loss 0.6140. (It is recommended not to consider the bid-ask spread
factor)

Position follow-up and profit and loss: 0.6090 has been long, with a target of 0.6110. (TP) (It is recommended not to consider the bid-ask spread factor)

Cumulative profit and loss: 555 pips

 

 

EUR/USD

  ZFX: Risk appetite restored? Good news seen by some investors - Zeal Capital Market

Market theme / sentiment: Euro is under tech correction orderly.

Support level: 1.1010; 1.0980 Resistance level: 1.1060; 1.1100

Recommendation: 1.1050 long, target 1.1070, stop loss 1.1030. (It is recommended not to consider the bid-ask spread
factor)

Position follow-up and profit and loss: 1.1025 has been long, hit the target 1.1050 first. (TP) (It is recommended not to consider the bid-ask spread factor)

Cumulative profit and loss: 390 pips

  

GBP/USD

  ZFX: Risk appetite restored? Good news seen by some investors - Zeal Capital Market

Market theme / sentiment: The pound has risen sharply and there are signs of correction.

Support levels: 1.2300; 1.2250 Resistance levels: 1.2400; 1.2440

Recommendation: 1.2360 short, target 1.2300, stop loss 1.2420. (It is recommended not to consider the bid-ask spread factor)

Position follow-up and profit and loss: 1.2390 has been shorted, and the stop loss is 1.2430 before reaching the target 1.2300. (Stop Loss) (It is recommended not to consider the bid-ask spread factor)

Cumulative profit and loss: 290 pips

  

GOLD

  ZFX: Risk appetite restored? Good news seen by some investors - Zeal Capital Market

Market theme / sentiment: Gold market is just ranging.

Support levels: 1610; 1600 resistance levels: 1625; 1635

Recommendation: The spread is still widening, wait and see.

Position follow-up and profit and loss: —

Cumulative profit and loss: -70 USD

USOIL(美国原油)

  ZFX: Risk appetite restored? Good news seen by some investors - Zeal Capital Market

Market theme / sentiment: US is likely to be involved in the oil price war, help stabilizing oil prices.

Support levels: 22.50; 21.50 resistance levels: 24.00; 24.70

Recommendation: No recommendations are made due to further differences in OTC quotes.

Position follow-up and profit and loss: —

Cumulative profit and loss: $ 9.8

 

  

Risk Warning: The above content is for reference only, and does not represent ZFX's position. ZFX is not responsible for any form of loss caused by any trading operations conducted in accordance with this article. Please be firm in your thinking and take appropriate risk control.