FX.co ★ Trader's Diary: EUR/USD on 01/28/2020, Technique will show

The outbreak of the new flu virus epidemic in China has mixed cards in the market, while the US market has shown a strong daily fall. Let us pay tribute to the truth, the US market has long needed a strong correction, and perhaps the virus in China is just an excuse. But we must bear in mind that options are possible, a large epidemic of the new flu in China cannot be ruled out. It is also equally impossible to dismiss the situation will improve for the better in a week.

We cannot accurately predict the situation in the US economy. We are clearly tired of growth, but whether the markets will fall sharply is not yet clear.

In this situation, you need to monitor prices.

EURUSD:

The borders of a large range are quite clear. Top: 1.1240, Bottom: 1.10880.

Accordingly, one can talk about the beginning of the Big Trend only after leaving these boundaries (above).

So far we are talking about the movement within the range, and this movement may go beyond the borders or it may stall.

We keep sales from 1.1084.

We are ready to sell from 1.1060.

Cancellation of the movement down 1.1110.