FX.co ★ Evening review 02/11/2020 EURUSD. Strong correction for the euro is possible

The Fed chief will make a report to Congress in the evening of February 11.

You should not expect tough statements from the Fed chief - he will act on the principle of "do no harm" - everything is fine in the US economy, the dollar is strong - and there is no point in further strengthening the dollar's growth. Rather, it would be beneficial for the Fed to slightly pull down the dollar.

EURUSD: The euro is at long lows and looks ready to try to break out 1.0880.

However, one must be careful: the indicators on the day and H4 show a strong "oversold" - this requires some "unloading" of indicators:

A strong bounce is possible upwards - up to 1.0960 or higher.

We keep selling from 1.0990.

Possible sales from 1.0960.