The markets paused after heavy moves on Monday. Oil stopped at around $33.70 - after the collapse on Monday due to the outbreak of the OPEC-Russia price war.
Furthermore, the news on the coronavirus is very negative - but the market will wait for the latest data on the dynamics of the disease in the morning on Wednesday. What is important now? Will there be new large foci of the disease - more than 3-5 thousand people - other than the known ones (China, South Korea, Italy, Iran). We look at Germany and France. We look at the growth of patients per day - more than +10% per day or not? This task is for Wednesday morning.
The US market, as we can see, shows a good rebound +3.5% in indices - after a collapse of -7% on Monday. Today will probably be a day of respite - and a new report on coronavirus on Wednesday will set the dynamics.
EURUSD: We keep purchases from 1.1100 and wait for a new approach to the top.
We buy from a strong pullback - no higher than 1.1200.
