20.02.202008:46 Forex Analysis & Reviews: Trading plan on EUR/USD for February 20, 2020

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Update on the coronavirus epidemic: the total number of cases is 74.5 thousand, while the total death count is 2,118.

The number of cases increased by 400, the lowest since January 25, which is a good signal, as it indicates that the epidemic is obviously stopping.

EUR/USD: Strong US data supported the dollar. Earlier this week, the data on net capital inflows/outflows was released - it amounted to $ 85 billion.

On Wednesday, the report on inflation in the wholesale link (producer prices) was released. The PPI showed an unexpected strong growth of + 0.5%, despite its initial forecast of +0.1%. This indicates an increase of 2% per annum, which closes the idea that the Fed will reduce the rates in the future. Instead, it opens the possibility of the Fed raising the rate after some time.

EUR/USD: the pair is in a downward trend. Attempts for a correction are being made.

Keep selling from 1.0990.

Sales, with a rebound from 1.0860 or higher, are possible

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