Check the currency pairs movements be informed how pandemics hit the EUR/USD and EUR/JPY currency pairs!
EUR/USD
The euro is weak against the US dollar since Tuesday afternoon October 11, we had Lower High, which confirms that the dollar is slowly returning to the game.
European countries are again introducing new restrictions due to the corona virus, first France and Germany immediately after it. In America, we also have an increased number of people infected with the corona virus, but for now, the dollar is holding up well.
We also have a break in the trend line which confirms our assumptions, and we can expect a shorter pulback up to the break line so the continuation falls to real support around 1.168000, first support is about 1.17200, and up we have resistance around 1.17700.
Our next task is to track whether this pair will make a new Higher low or lower low and to trade within this falling channel.
EUR/JPY
EUR / JPY pair slowly going down. Following the chart, 3 peaks were made on the basis of which we can form the upper trend line and the lateral falling channel.
When we set the fibo level we see that the price has fallen below the first fibo level by 23.6% and continues down to the next 38.2%.
At that point we can find support because we have already had a rejection from that point 122,500.
Up there we have a strong resistance of around 124,000 and we can follow that point as a possible support to continue up.
Dark clouds are hovering over Europe as there is an increase in the number of people infected with the corona virus and very possible new measures. A curfew is announced in France, while Germany is considering similar measures.
The Japanese currency, on the other hand, is considered a safe haven for investors during these difficult times.
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