Corona virus news:
The European Commission is planning to ban all non-essential travel to the European Union after more countries within the bloc closed their borders to try to limit the spread of corona virus.
Commission President Ursula von der Leyen said she would ask leaders to implement the measures on Tuesday."The less travel, the more we can contain the virus," she said.
Meanwhile, tough new measures in France restricting movement from the home are coming into effect on Tuesday.Technical analysis:
Technical analysis:
EUR/USD has been trading downwards as I expected yesterday. The price tested the level of 1.0967. I still expect stronger downside break and potential testing of 1.0830-1.0785.Watch for selling opportunities on the rallies using the intraday frames like 15/30 minutes. That will enable you better entry location.MACD oscillator is showing new momentum down, which is strong sign of the bearish pressure.
Resistance level is set at the price of 1.1050
Support levels and downward targets are set at the price of 1.0830 and 1.0785.
