Coronavirus fears in Korea, Investors Bet on Dollar

Updated 12:05PM 20/02/2020

CHF and EUR are the top G10 FX gainers today, up 0.12% and -0.05% vs the dollar while NZD and AUD are the top losers, down -0.63% and -0.61% vs the dollar.

 

Yen dipped to a 10-month low, extending Wednesday's fall versus the dollar. The dollar has seen broad strength as coronavirus risk continues to grow. There were a number of new coronavirus cases in South Korea and the first death has raised fears of a global spread.

 

In the Asian equities space, the Nikkei 225 closed up 0.34% at 23,479.15, Hang Seng closed -0.17% at 27609.16 and Kospi ended -0.67% at 2195.5. The European equities were trading mixed with the FTSE 0.11% at 7465.58, DAX -0.18% at 13763.6, and CAC -0.13% at 6103.05. In the rates market, global yields were trading weaker; the US 10-year yield was trading at 1.5526% and the Bund 10-year yield trading at -0.417%.

 

Get Real Time Forex Trade Ideas

 

https://research.tradermade.com/

 

Economic Calendar

 
 

10-year Yields Daily Chart (6-month)

 
 

Daily FX Pivots

 
 

Brent Crude Daily Chart (1-month)

 
 

(Content and Data by Tradermade)

 

Forex Chart and Technical Analysis

 

EURUSD Chart (Two-week)

 
 

Strategy: Resistance at 1.0825 for 1.0858
Short-term view: EUR/USD resistance comes in at 1.0805, MACD crossover suggests a bearish bias and RSI is below 50. Hence we see a downside to 1.0719. Above 1.0825 to open 1.0858

 

GBPUSD Chart (Two-week)

 
 

Strategy: Resistance at 1.2951 for 1.2834
Short-term view: GBP/USD resistance comes in at 1.2951, MACD crossover suggests a bearish bias and RSI is below 50. Hence we see a downside to 1.2834. Above 1.2951 to open 1.2994.

 

USDJPY Chart (Two-week)

 
 

Strategy: Support at 110.94 for 112.69
Short-term view: USD/JPY support comes in at 110.94, MACD crossover suggests a bullish bias and RSI is above 50. Hence we see an upside to 112.69. Below 110.94 to open 110.28

 

AUDUSD Chart (Two-week)

 
 

Strategy: Resistance at 0.6658 for 0.6532
Short-term view: AUDUSD resistance comes in at 0.6658, MACD crossover suggests a bearish bias and RSI is below 50. Hence we see a downside to 0.6574. Above 0.6658 to open 0.6683.

 
Most Recent Posts
Trump Drop Plans to get Economy Back on Track, Boris Gets Coronavirus

Updated: Mar 30, 2020 09:37 UTC

Dollar Retreat but for How Long?

Updated: Mar 27, 2020 10:05 UTC

Dollar Down But For How long?

Updated: Mar 26, 2020 10:15 UTC

U.S. $2 Trillion Stimulus On the Way, Will it be Enough?

Updated: Mar 25, 2020 10:16 UTC

Fed Announces Unlimited QE, What's Next

Updated: Mar 24, 2020 09:35 UTC

Europe on the Verge of Shutdown.

Updated: Mar 23, 2020 10:07 UTC

Stock Market Rally, Risky Currencies Up, Whats Next?

Updated: Mar 20, 2020 09:59 UTC

ECB Launches Coronavirus Stimulus, But Will It Be Enough?

Updated: Mar 19, 2020 09:28 UTC

Government Stimulus Fails to Alleviate Investors Fears

Updated: Mar 18, 2020 09:53 UTC

Global Central Banks Inject Dollar Liquidity - Will It Be Enough?

Updated: Mar 17, 2020 10:12 UTC

Rally in Equities May Not Last Here's Why

Updated: Mar 13, 2020 09:40 UTC

Coronavirus - Going to get Worse Before it Gets Better

Updated: Mar 12, 2020 09:46 UTC

Markets Remain in Coronavirus Grip as BoE Cut Rates

Updated: Mar 11, 2020 10:00 UTC

Markets Up on Big Stimulus Hopes

Updated: Mar 10, 2020 10:00 UTC

Oil Plummets, Equities Crash, But Time to Keep Calm

Updated: Mar 09, 2020 11:03 UTC

Yields Slide Euro Surge

Updated: Mar 06, 2020 10:00 UTC

Fed Stabilized Equities but Dollar Vulnerable

Updated: Mar 05, 2020 10:49 UTC

Virus Fears Trump Stimulus Plans

Updated: Mar 03, 2020 10:41 UTC

Federal Reserve Opens the Cheque Book

Updated: Mar 02, 2020 10:39 UTC

Yields Fall as Rate cut Bets Rise Globally

Updated: Feb 27, 2020 10:00 UTC