European countries are making progress in flattening the curve and EU stock markets have opened higher today on renewed optimism that Eurozone economies will gradually begin plotting an easing of lockdown measures. EU bourses seem to have also been fired up by the supply of “cheap money” and hopes that the COVID-19 crisis is nearing an end. But how substantiated can these hopes be?
While there may be a light at the end of the tunnel, markets will definitely need considerable time to fully recover from such a devastating blow. As the economy might gradually be reopened soon in Europe, unemployment numbers are still expected to rise, while we are already seeing a number of bankruptcies being filed. To put this in a quick trade we’d like to sell GER_30 at 10205 with SL at 10800 and open TP.