This is in response to the crisis and chaos faced by the UK amid European countries closing its borders to the UK due to the new virus strain
As Eamonn pointed out earlier, this is to discuss:
- The announcement by many countries to impose bans on flights from the UK in an attempt to stop the new strain of coronavirus landing
- Also to be addressed are freight issues, with a warning of an imminent shortage of some fresh foods
- The Port of Dover ferry terminal and Eurotunnel have both closed following French travel restrictions
As things stand, most European countries are keeping the travel bans but they are to be temporary in order to sort out procedural and safety protocol before allowing for accompanied freight and trade to resume in the coming day(s).
Technical analysis:
EUR has been trading downwards during the Asia session and first half of Europe session but I see potential exhaustion and further upside movement.
The trend is still bullish and the support at the price of 1,2170 looks like the nice pivot level for further rise.
Support level: 1,2,170
Resistance levels: 1,2240 and 1,2270
