FX.co ★ Trader's diary for February 3, 2020. Uptrend in EUR/USD reverses

The EUR/USD pair skyrocketed by 400 pips in 7 days. Similar moments were seen almost 18 months ago. At the moment, a correction is possible.

The market situation stabilized on Monday. The coronavirus is still spreading. However, the rate of infection decreased.

American vice president Mike Pence, appointed by Donald Trump to coordinate the government's response to the coronavirus, said that effective treatment for the virus can be found in autumn of 2020. However, the mass production of the COVID-19 vaccine is likely to start only in 2021.

EUR/USD: buy deals are at or below the level of 1.1100.

February employment data in the US is slated for release on Wednesday.