MBG MarketsThe battle against the epidemic has not been successful yet The oil price war is starting again Avoidance becomes the sole theme

MBGprospect

goldOn the one hand, the continuous escalation of the epidemic has prompted a global interest rate cutting frenzy among central banks, coupled with the risk aversion sentiment of the Saudi oil price war, which will still support the strong trend of gold prices; The current panic continues to soar, risky assets are being sold wildly, and the US dollar has lost its safe haven function. As a result, gold will become one of the few safe haven assets highly sought after by funds. Overall, during an extraordinary period, the technical side has lost control, and gold prices are currently not at their peak. Anything is possible, but traders need to control their positions in long positions and strictly set stop losses to control risk.

crude oilIn terms of aspects, last week OPEC+After the collapse of the meeting, Saudi Arabia officially launched an oil price war last Saturday, which will be another sharp drop in oil prices in history,WTIThe crude oil has reached2010The most severe bearish level since the beginning of the year, with oil prices struggling to reach a bottom in the future, has led to an overall bearish trend; However, traders should be aware that sharp declines in market conditions may also bring about dramatic fluctuations in details. A large market may not necessarily be easy to do, and traders should control their positions and strictly stop losses.

In the foreign exchange market,The current epidemic continues to escalate in the United States, and the US dollar has temporarily lost its safe haven function, resulting in continuous heavy losses. The current support is95Nearby, if it falls below, testing may continue93.8; Affected by the decline in the US dollar index, non US currencies have generally strengthened. However, in this special context, we suggest focusing on a bullish view of European currencies as a whole; And there may be a risk of depreciation in commodity currencies due to the sell-off of commodities, with significant variables; The Canadian dollar may also continue to decline due to the heavy decline in oil prices.

MBGviewpoint

XAUUSD(gold)

Data source:MBG Markets

brace1 : 1687  brace2: 1651  
resistance1 : 1706  resistance2: 1711
The impact of the COVID-19 pandemic and the Saudi oil price war has led to a frenzy of selling risky assets, and funds are eager to find a gap in safe haven assets. This move may cause a sharp increase in gold prices; Traders need to be cautious of the possibility of market liquidity risks arising from panic, which could exacerbate the volatility of the market.
TechnicallyThe price has temporarily broken through3month3Starting from the day of expansion61.8%Suppression, if4The hourly candlestick is expected to continue to rise above this point, with attention from above in sequence2month5Starting from today3month3Starting from the day of expansion100%Structural suppression (however, if the bulls continue to strengthen, it may open up greater room for expansion line structure, such as2019year4month28Starting from the day of expansion100%by1730）; If under pressure, use a dividing line to focus below38.2%Correction of..

USOUSD(Meiyou)futures）

Data source:MBG Markets

brace1 : 31.0  brace2 : 28.9  
resistance1：38.8  resistance2：44.0
At present, the fundamentals are mainly focused on the oil price war initiated by Saudi Arabia, which may trigger competition among oil producing countries to increase production and potentially lead to a deep collapse of oil prices, resulting in an overall main decline. However, unconventional fundamentals may cause market price shocks, and traders should focus on controlling risks and act within their capabilities。
TechnicallyThe price has lost its technical significance in the short term, and traders can refer to resistance support based on spatial calculation structure. Please pay attention to this year above1month8Starting from the day of expansion100%and2018year9month30Starting from today, the expansion line will be suppressed, and the corresponding support will also be focused on below according to this structure, mainly through high-altitude operations.

EURUSD (EUR/USD)

Data source:MBG Markets

brace1：1.1320   brace2 : 1.1283  
resistance1：1.1457   
The decline of the US dollar index is the main factor contributing to the recent rise of the euro, and it is expected that the euro may maintain its upward momentum under the continued weakness of the US index; Currently, the market has already lowered interest rates against the European Central Bank10The expectation of one basis point has been digested, and if the European Central Bank's easing falls short of expectations, it may limit the short-term rise of the euro.
TechnicallyThe euro is temporarily rising in a channel like manner, and if it breaks through the price structure, it is expected to continue to rise in a volatile manner, but the expansion line61.8%If it is always supported, it is necessary to be cautious of the upward movement of prices on the channel, which may evolve into an upward trend in the Fibonacci structure, which may be tested in the future100%Position, overall, in a much lower order。

GBPUSD(GBP to USD)

Data source:MBG Markets

brace1：1.3017  brace2：1.2962  
resistance1：1.3107  resistance2 : 1.3210   
Due to the temporary digestion of the negative impact of the Anglo European negotiations, a harmonious negotiation atmosphere has emerged between the UK and Europe in the past two days, and this pound has brought some support; In addition, the sustained decline of the US dollar index has also provided momentum for the rebound of the pound.
TechnicallyThe overall trend tends to be bullish. The price is in line with last year's12month13The trend line formed from today suppresses the progress test, if4The official breaking of the hour will open up structural bullish space; On the contrary, a correction trend will appear near the suppression of the trend line.

USDJPY(USD to JPY)

Data source:MBG Markets

brace1：106.00  brace2 : 105.00  
resistance1：106.7
Until now, the Japanese yen remains one of the few classic safe haven assets. Under the current panic, safe haven funds are seeking entry points to boost the strength of the yen; Due to the spread of the epidemic in the United States and the lack of satisfactory epidemic control measures by the United States, the US dollar continued to weaken, accelerating the appreciation of the yen.
Technically, the United States and JapanStill in a downward trend, it is no longer possible to expect downward support in the short and short term. We can only search for obvious low prices that have appeared over time. Currently, the price has fallen below2018Year and2019The overlapping support for over a year will continue to move towards2014Year and2016Aligning support with overlapping years.

AUDUSD(AUD to USD)

Data source:MBG Markets

brace1：0.6514 brace2 : 0.6435
resistance1：0.6640 resistance2 : 0.6776  
Affected by the pandemic and the Saudi oil price war, global panic has surged, causing commodities to be sold off wildly as risk assets, while the Australian dollar, as a commodity currency, has also been under some pressure。
TechnicallyPrice at2018year9month30The support line from the beginning of the day rebounded as scheduled, which was carried out last weekAAfter a rebound, if the following steps0.6640Unbreakable may indicateAThe segment trend is completed, and thenBOnly after the segment has fallen can the upward movement be activated again. Follow the falling point23.6%Nearby, but if the price directly breaks the trend line, considerAContinue to follow up shortly before the end of the paragraph.

NZDUSD(NZD to USD)

Data source:MBG Markets

resistance1 : 0.6385  resistance2 : 0.6440     
brace1：0.6266  brace2 : 0.6190  
Affected by the pandemic and the Saudi oil price war, global panic has skyrocketed, with commodities being sold off wildly as risk assets, and the Australian dollar, as a commodity currency, also experiencing some pressure.
Technically, New York is testing2015Year and Year2019After years of overlapping low levels, a penetrating rebound has begun with small levels,Currently, we are also in the process of2month5In the testing of trend line suppression starting from today, if the position does not break, it may be activatedABCReboundingBSection falling, follow below23.6%Support; But if it breaks the trend line directly, then look at itAThe segment has not yet ended, so we will follow up with a short amount of time。

USDCAD(USD to CAD)

Data source:MBG Markets

brace1 : 1.3436  
resistance2：1.3580 resistance2 : 1.3815  
The Saudi oil price war may lead to a collapse in oil prices, and the Canadian dollar is the first currency to be affected. It is expected that the Canadian dollar will continue to weaken in the future.
Technically, USD to CADDirect jump to break through the space2019year12month29Starting from the day of expansion61.8%Currently undergoing testing100%Suppression, if4If you successfully stand up within hours, continue to follow up on multiple orders161.8%But if it doesn't break, it may be retested61.%Afterwards, there will be an upward trend.

USDCHF(USD to Swiss Franc)

Data source:MBG Markets

brace1：0.9185   
resistance1：0.9438
Against the backdrop of the continued weakness of the US dollar index, the safe haven function of the Swiss franc has returned. Although the holding cost of the Swiss franc is relatively high, there is still room for strength in the Swiss franc due to the current fervent demand for safe haven funds.
Technically, the overall trend of the US dollar against the Swiss franc remains pessimistic,At present, the price has broken through as scheduled2019year12Monthly expansion line100%Support, next we will look towards161.8%The test is conducted at high altitude as a whole.

HK50(Hong Kong Hang Seng Index)

Data source:MBG Markets
brace1：25780  
resistance1：26833
The current global stock market is generally pessimistic, and Hong Kong stocks are under significant synergistic pressure as a result. However, if the gradual improvement of the COVID-19 situation in China drives a positive trend in the domestic stock market, it may give Hong Kong stocks a good opportunity for long positions.
Technical aspectThe price is currently at2019year4month15RecentlyABCIn the downward trend, the current price has broken through the expansion line61.8%Support, lower support appears at100%If this support is not broken, beware of the risk of price inflation. However, traders should note that this is a structural long position opportunity, but the short-term still needs to focus on high positions.

Focus on financial information/event

Note: ★ represents importance
14：45  Switzerland2Unemployment rate after quarterly adjustment    ★★★★
15：00  Germany1Monthly industrial output rate after quarterly adjustment    ★★★★
  Germany1Monthly and quarterly trade accounts adjustment(100 million euros)    ★★★★
  Germany1Monthly and quarterly adjustment of current account(100 million euros)    ★★★★
15：30  France2monthBOFBusiness confidence index    ★★★★
17：00  IEAPublish monthly crude oil market report    ★★★★
17：30  eurozone3monthSentixInvestor confidence index    ★★★★
undetermined    Energy ministers and corporate executives from major oil producing countries around the world hold meetings    ★★★★