empty
 
 
10.07.2020 10:54 AM
Trading plan for EUR/USD on July 10, 2020. The escalation of coronavirus infection has decreased the demand for risky assets.

This image is no longer relevant

The latest data reveals that the United States has once again recorded a huge increase in the number of new infections, listing 61 thousand new cases as of the morning of July 10. Deaths, meanwhile, have been stabilized at 1,000 a day, which is quite good considering that the record last April, when the pandemic in the country was at its peak, was 2,500 a day.

Nevertheless, this second wave puts restoration at serious risk, and its seems that the return of strict quarantine in the most troubled states is inevitable. In addition, Trump is losing his position with regards to the upcoming US presidential election, as he failed the fight against the coronavirus pandemic. The United States has remained the "leader" at this pandemic, so the situation in the country was at its worst.

Other countries such as Brazil and India are also under terrible situations, having recorded sharp growths in the number of new infections as well.

This image is no longer relevant

EUR / USD: the deteriorating situation is lowering the demand for risky assets such as the euro. It went down from the highs and broke through the three-day lows, but perhaps this movement is just false.

Nevertheless, be ready to sell euros from 1.1250, or buy from 1.1370.

The latest news on the US labor market, which came out very strong on Thursday, also caused the strengthening of the US dollar.

Jozef Kovach,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback