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14.02.202009:18 Forex Analysis & Reviews: Trading plan on EUR/USD for February 14, 2020

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.

Exchange Rates 14.02.2020 analysis

Data on US inflation was released on Thursday: inflation remains at the same level, below the forecast, just above 2% per annum. Nevertheless, the euro remains under strong selling pressure, staying near the lows of the week.

Today, at 14:30 and 15:00 London time, huge data on the US economy will be released. This may change the market picture, such as organizing a correction for EUR/USD.

Meanwhile, on the epidemic in China: there are +3000 number of new cases per day (totalling to 63000); while +120 number of deaths (totalling to 1400).

The growth rate of the disease has decreased strikingly. The number of cases outside the main affected province has declined. For instance, there are 500 cases recorded in Japan.

The US indices are at highs, as the market is not responding to the epidemic yet. Oil has also drawn a bottom and is not falling.

EUR/USD: Keep selling from 1.0990. Prepare for a strong rebound to the top.

Selling is also possible from 1.0940.

Jozef Kovach
Analytical expert of InstaForex
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