EUR/USD benefits from dollar slump, as the coronavirus crisis intensifies. March 18 Fed rate cut fully priced in despite strong US jobs data. Risk trends will continue to play a key role next week. The corrective slide in the EUR/USD pair from a new eight-month high of 1.1356 lost legs near 1.1290 region, as the bulls now consolidate the upside around 1.1300, looking to close a dramatic week with a 2.35% gain. The recovery in the main currency pair from multi-year troughs of 1.0776 gathered steam this week after the coronavirus led economic concerns escalated alongside its count globally and propelled the US Federal Reserve (Fed) to cut rates by 50bps to combat the virus impact. The emergency Fed rate cut triggered panic across the financial markets instead of lifting the market confidence and pushed the investors to seek safety in the US bonds. The flight to safety in gold and US Treasuries sparked a massive selling in the global stocks and US Treasury yields, with the 10-year benchmark’s rates registering a historic low of 0.674% earlier on Friday. Given, that markets are fulling pricing-in another Fed rate cut at its March 18 monetary policy meeting. Meanwhile, the European Central Bank’s (ECB) easing stance to combat the virus impact is still on the cards, leaving a monetary policy divergence between the Fed and ECB that adds to the downside in the greenback while underpins the sentiment around the shared currency. Meanwhile, stronger-than-expected US Non-Farm Payrolls data did little to stall the dollar slump, as the infectious disease-driven broad risk aversion continued to emerge as the main market driver on the final trading day of the week. EUR/USD technical levels to consider FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Bitcoin Cash Price Analysis: Bulls run into trouble at $350 FX Street 3 years EUR/USD benefits from dollar slump, as the coronavirus crisis intensifies. March 18 Fed rate cut fully priced in despite strong US jobs data. Risk trends will continue to play a key role next week. The corrective slide in the EUR/USD pair from a new eight-month high of 1.1356 lost legs near 1.1290 region, as the bulls now consolidate the upside around 1.1300, looking to close a dramatic week with a 2.35% gain. The recovery in the main currency pair from multi-year troughs of 1.0776 gathered steam this week after the coronavirus led economic concerns escalated alongside its count globally and… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.