For Traders

Analytical Reviews

Trading plan

28.02.202008:49 Forex Analysis & Reviews: Trading plan for EUR/USD on February 28, 2020. The coronavirus has brought down the US market and oil. The markets on the verge of panic

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Above is the S&P 500 daily chart. It showed the third biggest drop this week, with the overall drop from highs at about 13%. Although this is not a real crisis yet, it is already a serious bid. Due to the global panic due to the coronavirus, analysts from Goldman Sachs and JP Morgan have announced a massive revision of expectations for companies.

Virus: The number of cases outside China exceeded the number of new cases recorded in the country. The worst situation is in South Korea, with 700 new cases per day, amounting to more than 2000 in total. The second focus is Italy with 650 patients, and Iran with 245 cases.

At the same time, oil fell to $ 45.

As long as there is no slowdown in the spread of the virus, it will remain as the main topic of the markets.

EUR/USD: the euro reversed the downward trend.

Against the background of the coronavirus as well as the fall of the US market, the euro showed a sharp upward turn.

Our sales followed the footsteps at 1.0990.

Buy at the break of 1.1100 upwards.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.