Eur Strength overdone
2020-03-06 09:08:15
the COVID 19 is spreading wildly in Italy which is Europe's 3rd largest economy.
we are seeing increasing cases in France which is the 2nd largest economy.
Fed has cut 50bps this week and resulted in USD sell-off.
ECB may also do something drastic and perhaps the EUR selling may start.
Watch out for 1.1240-1.1250 resistance.