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Good and bad news

Good and bad news | 07 February 2020

07 February 2020, EUR/USD

Good and bad news

EURUSD trading plan:

Good and bad news for the Euro. The good news is a bullish rally in the gold market. Investors are increasing their long positions in the precious metals market. The coronavirus outbreak continued to spread today, as China reported this morning that the death toll climbed to 636. The number of infections at 31,161. And in the early hours of the morning one of the first Chinese doctors to raise the alarm about the virus died from it at a hospital in Wuhan, the outbreak's epicenter. This is a positive factor for the gold! The bad news for the Euro is positive macroeconomic statistics from the Euro zone. German industrial output registered its biggest drop in more than a decade in December.

Trading recommendation: range 1.0900 -1.0980.

David Johnson
Analyst of «FreshForex» company
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