By IFCMarkets
Countries around the world are gradually easing quarantine
Such a movement occurs when gold becomes cheaper and the single European currency strengthens. Gold rose markedly in price as the Covid-19 pandemic developed. Investors regarded it as a protective asset. A number of countries are now beginning to mitigate quarantine requirements, which may contribute to the correction of precious metal prices. Particularly in the US, a number of companies and organizations in South Carolina, Georgia, Oklahoma, Alaska and some others resumed their work. In Europe, quarantine mitigation was announced by Czech Republic, Greece, Croatia, Switzerland. In turn, the euro may receive support in case of positive statements at the ECB regular meeting on April 30, as well as if data on GDP for the 1st quarter, unemployment and inflation in the Eurozone are positive. European statistics will also come out on April 30. GDP is expected to drop by 3.1% in annual terms, inflation in April + 0.1% and unemployment in March 7.7%.
| Indicator | VALUE | Signal |
|---|---|---|
| RSI | Sell | |
| MACD | Sell | |
| MA(200) | Neutral | |
| Fractals | Neutral | |
| Parabolic SAR | Sell | |
| Bollinger Bands | Neutral |
Summary of technical analysis
| Order | Buy |
| Buy stop | Above 1545 |
| Stop loss | Below 1615 |
Market Analysis provided by IFCMarkets
