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forex technical analysis

Investors sought the safety of safe-haven assets, selling the risk-heavy equities.

This came amid an increase in the Coronavirus cases outside of China. Besides some Asian countries, Europe is also being affected.

This led to an increase in safe-haven assets such as gold and US Treasuries.

German Business Confidence Improves in February

Business confidence in Germany, as measured by the Ifo institute saw modest improvement. For February, the business climate index rose to 96.1 during the month. This was up from a revised 96.0 in January.

The data underlined the fact that German businesses were unaffected by the impact of the virus outbreak. It also signaled a modest increase in the business sentiment from December.

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EURUSD Attempting to Rebound

The common currency is posting some modest gains into Monday’s close. This comes as the US dollar takes a pause in its rally.

With the Stochastics now showing possi...


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