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Monday 05/10/2020 - President Donald Trump in Hospital & a look at the EURUSD

Updated: Oct 29, 2020

On Friday last week it was announced that President Trump had infact contracted the illness Covid-19 as a result fear took control of the country as the markets in the US started to see moves against the greenback. The President was given an experemental drug to assist with his breathing and lungs. It was then publicised how the President made his way to the Hospital in convoy. Needless to say the President has made a few short videos and seems in good spirits regarding his health and his desire to get back to the White House.

Back in Europe fear starting to rear it's face as Germany who is one, if not the biggest economy, have seen strong indications of rising cases in Covid-19, as have France and Spain.

The UK is also hard hit by Covid-19 as many areas across the UK are on lock down.

As the Northern hemisphere starts to move into Winter there is growing concern around Covid-19 and of course the possible implications of people getting more than the common cold. Leaders across Europe are trying desperately to keep the economies running and at the same time face growing concern of further lockdowns.

Taking a look at the 4H chart we can see that the EURUSD is just under the 50 day moving average and creeping up quickly, however this will be met by resistance at 1.17513.

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