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21.02.202009:18 Forex Analysis & Reviews: Trading plan on EUR/USD for February 21, 2020. The coronavirus, news for USA, and the trend for dollar

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The euro keeps declining.

Meanwhile, the yen shows that it is ready to go along with the euro, in trending with the dollar.

At the same time, gold continues a strong growth trend. It is bought as a safe haven asset, in case the dollar faces a new crisis or problems.

Update on the coronavirus: the number of new cases is approximately 800, which is more than yesterday's record. Nevertheless, the growth rate has decreased significantly, and there is a good chance that it will grow very slowly, up to 80-85 thousand, and then stop. In total, there are now 59 thousand patients (many have recovered). This dynamics is positive, despite the unfortunate deaths of 100 more people.

News for the US: the Philadelphia business activity index exceeded the forecast. It came out as +36.7, in contrast to the forecast of just +12. Similarly, the New York business activity index came out earlier with +12, against its forecast of +4. The index of leading indicators also came out with +0.8, against its forecast of +0.4. Apparently, the US economy is accelerating once again.

EUR/USD: in a downward trend.

The euro is still in a narrow range around 1.0780.

There are two scenarios that can happen: a break downwards, or a strong rebound upwards.

Keep selling from 1.0990. Stop at the breakeven.

Sell from a strong rebound to the top, from 1.0860 and above.

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