Not financial advice, just information.

The decline at the end of 2019 for the EUR/USD pair has unfolded with a rebound, which might lead to a bullish outlook for the rest of Quarter 1.

Reversals have developed in a number of markets and it seems that the USD is in for a market correction. Market sentiment is still weak amidst the fears of nCOV19 around asian markets (Our condolences are extended to the affected families and businesses).

The EUR has tried to break above 1.0850 level during trading sessions but there has been some resistance. Market sentiment shows that most clients are going long. It is still uncertain whether prices will respect the resistance zone. 

It is without doubt that the market impact due to the spread of corona-virus becomes more and more apparent as we observe the financial markets. In spite of market sentiment, we might see the EURO strengthen in the short-term with prices heading back to 1.10500 later in the year.

This article is not financial advice. The author accepts no responsibility for any actions taken based on information provided.