Euro draws a halt after a strong fall on Thursday.
Oil found support in the zone of 22-23 dollars.
In the first period of a sharp increase in the coronavirus epidemic in Europe, especially in Italy, the markets were shocked. First, they were afraid of Italy's bankruptcy and a sharp increase in the epidemic in all EU countries. Now, the situation in Italy is growing worse with more than 40 thousand patients in total, and an increasing mortality rate with up to 500 deaths per day or even higher. The number of patients is not lower than 10% per day. The cases in Spain, Germany and France are also growing which adds up to the worsening situation. However, hopes that the quarantine measures already taken will have an effect in controlling and preventing the worsening situation. On the other hand, aggressive measures to support the economy from the EU authorities, the ECB, the US Federal Reserve and the US government gave hope to ease the crisis.
The markets needs to pause to assess the situation perhaps until Monday. New statistics on coronavirus will help to understand the following trend, a strong deterioration or a fracture. The United States, on the other hand, with already 14 thousand patients noted is starting to feel worried.
EURUSD: Prepare to sell from a strong pullback up - from 1.0940 and above.
