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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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Trading plan for EUR/USD on March 13, 2020.

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Because the US market has technically moved into a bearish state, the S&P 500 chart declined by 9%. I actually had to stop trading because the decline was too fast. Nevertheless, the situation is not considered a big crisis yet, although it looks very much like the beginning of it. There will be a big crisis when several major institutions fall, but so far, only the major airline companies are at risk of bankruptcy.

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Update on the coronavirus: Since the beginning of the epidemic, the total number of cases recorded is 130,000. 50,000 of those are from outside of China.

60 thousand patients have already recovered in China. The country has already coped with the epidemic.

Meanwhile, Iran has 10,000 cases, while South Korea has 8,000.

As of the moment, the most dangerous situation is in Europe, with Italy having 15,000 patients, Spain with 3,000 patients, Germany with 2,300 patients, and France with 2,300 patients.

WHO has classified the virus as pandemic.

Patients still increase by more than 10% per day, if we exclude China.

EUR/USD. The ECB has allocated € 120 billion to support the markets until the end of the year. At the same time, the US Federal Reserve allocated up to $1 trillion to support the financial market incase of a crisis.

In this regard, the euro declined sharply, and reversed the upward trend.

Thus, we are ready to buy euros from 1.1495, and we are ready to sell it from 1.0775.

We are waiting for closer levels to form to enter the market.

The material has been provided by InstaForex Company - www.instaforex.com