So, about the state of the market.
Three main news of the beginning of the year came out. The world's main Central Banks, namely, the Fed, and the ECB held meetings where they both released a report on US GDP for the 4th quarter. Both banks left the rates unchanged, but the ECB made it clear that it could start raising the rate. The Fed, on the other hand, is on a neutral course where it is neither up nor down. Lastly, the US GDP was slightly above the forecast of 2.1%.
The situation is clouded by the Chinese virus, where it is not yet clear how much it will be possible to localize the epidemic. However, the chances that the Chinese authorities will cope are quite high so, clarity is expected to come around mid-February.
EURUSD:
Above is the daily chart. It is important how we close the day and week today.
If there is no downward reversal, we will get a new bottom at 1.0990 by Monday. And probably start a new upward movement.
Then the global trend will begin with either a breakthrough up at 1.1240 or a breakthrough down at 1.0980.
Closer entry levels:
Purchase from 1.1110.
Sale from 1.0990.
