Forex Signals Brief for Feb 25: Coronavirus Fears Take Hold - Forex News by FX Leaders
Virus Fears Remain

Forex Signals Brief for Feb 25: Coronavirus Fears Take Hold

Posted Tuesday, February 25, 2020 by
Rowan Crosby • 2 min read

US Market Wrap

US equity markets copped a hammering to start the week with DOW shedding 1000 points and safe-havens performing strongly.

Fears over the spread of the coronavirus have finally taken hold after stocks shrugged off the noise as long as they could.

We are also hearing of more and more companies that will be impacted by the virus and that is no a fundamental reason for markets to ease back off their record high levels.

Today’s Agenda

While all the focus is on the coronavirus at the moment, we do have a couple of interesting releases today that we need to watch.

German GDP is the first one and it will certainly have some breaking on how the EUR/USD performs. The market is expected growth of just 0.1% which is dangerously low and shows just how soft the European economy really is.

Later in the US session, we have a chance to gauge consumer confidence, which will be timely given the virus worries. For a long time, this was shrugged off, so it will be interesting to see how people are feeling.

Forex Signal Update

The FX Leaders Team finished with three wins from three signals in what was a strong showing to open the week.

EUR/GBP – Active Signal

The EUR/GBP has been holding the round number levels really well lately. We are short here looking for resistance above to hold price down.

EUR/GBP
EUR/GBP – 240min.

EUR/CHF – Active Signal

We are back in the EUR/CHF as it continues to remain very soft. With buyers trying to get into the safe-haven CHF and weak EUR it’s hard to see a big change of direction in the short-term.

EUR/CHF
EUR/CHF – 240min.

Cryptocurrency Update

BTC appears to have failed its test at $10,000 level and has kept the series of lower highs intact.

That was exactly what we had been looking for as it indicates higher timeframe selling is taking place.

We can now remain bearish and if $9.600 finally drops, we could see a sharp sell-off.

Bitcoin
Bitcoin – 240min.
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About the author

Rowan Crosby // Asia-Pacific Analyst
Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.
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