For the markets, the main event on Tuesday was the sharp move by the Fed. Without a scheduled meeting, it lowered the rate urgently by 0.5% (prior to this, there were several reductions of 0.25%). The last time that this happened was during the 2008-2009 crisis.
As a result, the US market has plummeted, perhaps fearing that the Fed knows more, and that the situation is much more dangerous than it seems.
Update on the coronavirus: there's a total of 92,000 cases recorded worldwide since the beginning of the epidemic. 80,000 of those are from China, where the epidemic is now declining. Nevertheless, the current danger is the huge geographical spread of the virus, as cases are recorded across 66 countries. The most difficult situations are in South Korea, Italy and Iran, where 27 people died in Italy during the day, and 23 Parliament members have fallen ill in Iran.
EUR/USD: the euro rose sharply after the Fed lowered the interest rates. However, it once again failed to gain a foothold above 1.1200. Correction/consolidation is required to conquer the area.
Keep buying from 1.1100. Buy on strong pullbacks.
