For EURUSD These are the 2 main deciding factors this week and have been proven to be equally weighted: The Corona Outbreak and NFP.
Looking at the scenario, EURUSD is very speculative as of now as the US is lagging behind running and releasing test kits, which in turn can increase the number of virus cases hurting the safe-haven dollar.
While Coronavirus headlines set to dominate trading, with a short interval for the ISM Manufacturing Purchasing Managers' Index.
Other than CoronaVirus, this week NFP will also be a major indicator moving the markets as Economists expect a gain of 175,000 jobs in February after a leap in January.
The pair is in in the consolidation as Italy loses school amidst Corona fears, after registering 100 deaths and 300 infection cases, as well as other countries, has seen an increased number of cases. (Blue channel)
Meanwhile, Europe's overall condition is worse than that of the US, can send the pair even higher and H4 showing signs of the rally, supported by slashing borrowing costs by 50 basis points on Tuesday, (The Fed's rate is at 1-1.25%)
The pair see a Res @ 1.1180 and the year high @ 1.1215
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Looking at the scenario, EURUSD is very speculative as of now as the US is lagging behind running and releasing test kits, which in turn can increase the number of virus cases hurting the safe-haven dollar.
While Coronavirus headlines set to dominate trading, with a short interval for the ISM Manufacturing Purchasing Managers' Index.
Other than CoronaVirus, this week NFP will also be a major indicator moving the markets as Economists expect a gain of 175,000 jobs in February after a leap in January.
The pair is in in the consolidation as Italy loses school amidst Corona fears, after registering 100 deaths and 300 infection cases, as well as other countries, has seen an increased number of cases. (Blue channel)
Meanwhile, Europe's overall condition is worse than that of the US, can send the pair even higher and H4 showing signs of the rally, supported by slashing borrowing costs by 50 basis points on Tuesday, (The Fed's rate is at 1-1.25%)
The pair see a Res @ 1.1180 and the year high @ 1.1215
--------------------------------------------
Follow the channel for more strong and in-depth analysis like this.
Share the love with your friends and let me what do you think, Leave a comment :)
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Power of analysis!