EURUSD Daily Outlook – The coronavirus remains the big headline globally and the markets reacted big time to the latest news on Monday… but early during the Asian session we already saw a bit of a rebound.
The biggest risk event on Tuesday other than this is the US consumer confidence index for February.
We predicted the pair could reach 1.0785 end of January after it broke below the daily Ichimoku cloud.
After reaching exactly the level we talked about back then, the pair has now rebounded towards the pivot level of 1.0876.
This, however, doesn’t mean the losses for EUR/USD has ended and could simply be a temporary correction.
The next support is at 1.0580.
Do you think the EUR/USD pair will reach this level this week? Or do you think it will go up from here?
Head over to the comments section and let me know!
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Roz has been engaged in the financial markets since 2017, specializing in Foreign Exchange, Before joining to FOREX IN WORLD she start to learn forex trading related information.