EURUSD is struggling a lot since the starting of this year so far. Bombarded from every side at once.
The pair has fallen 270 PIPs in the last 17 days.
And it has broken very strong support at 1.8370, the lowest in the last 2 years.
Currently, its making 2 scenarios as currently the market is divided into 2 parts on the hottest topic in the discussion Corona outbreak.
Some institutions think that Corona is the next black swan for the market. Majorly testified by Mr. Powell in his recent testimony.
While Others think its overly exaggerated (Ray Dalio)
Hence, the market is reacting too quickly to every other statement coming from China.
Current situation:
Amidst the Corona caused slowdown market turned to safe heaven DOLLAR and YEN causing EURUSD a nosedive.
And at this point there are 2 possible scenarios:
#1 - The pair is it last 2 years lowest and can bounce back ending the current wave. and can target 1.0916, and then to 1.0980 before deciding a direction, alternatively,
#2 - A sharp rise was noticed in Corona cases by the Chinese health Dept. recently, it can push EURUSD downwards.
On the other had EURO was hit by the weak performance of the German economy (a major player in the eurozone) further continuing to weaken the EURO.
And if it happens he pair can take next refuge at the levels of 1.0780 to 1.0750.
Rethink if you are holding EURUSD buy positions.
Cheers!
----------------------------------
✅First 100 PIPs free on!
Contact me for more details
The pair has fallen 270 PIPs in the last 17 days.
And it has broken very strong support at 1.8370, the lowest in the last 2 years.
Currently, its making 2 scenarios as currently the market is divided into 2 parts on the hottest topic in the discussion Corona outbreak.
Some institutions think that Corona is the next black swan for the market. Majorly testified by Mr. Powell in his recent testimony.
While Others think its overly exaggerated (Ray Dalio)
Hence, the market is reacting too quickly to every other statement coming from China.
Current situation:
Amidst the Corona caused slowdown market turned to safe heaven DOLLAR and YEN causing EURUSD a nosedive.
And at this point there are 2 possible scenarios:
#1 - The pair is it last 2 years lowest and can bounce back ending the current wave. and can target 1.0916, and then to 1.0980 before deciding a direction, alternatively,
#2 - A sharp rise was noticed in Corona cases by the Chinese health Dept. recently, it can push EURUSD downwards.
On the other had EURO was hit by the weak performance of the German economy (a major player in the eurozone) further continuing to weaken the EURO.
And if it happens he pair can take next refuge at the levels of 1.0780 to 1.0750.
Rethink if you are holding EURUSD buy positions.
Cheers!
----------------------------------
✅First 100 PIPs free on!
Contact me for more details
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Our levels and short trades worked really well! looking forward to achieving the next levels.
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