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10.11.2020 11:02 AM
Trading plan for the EUR/USD pair on November 10. A slight decrease in COVID-19 incidence. Possible growth in the US dollar.

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A slight decrease in (worldwide) COVID-19 incidence was recorded yesterday - from 620 thousand to 480 thousand a day. One of the major declines was seen in France, as new infections there dropped to 20 thousand a day. As for Europe, everything remains very tense.

Another good news is that Pfizer announced yesterday that its Phase 3 coronavirus vaccine test was successful, that is, the vaccine showed a 90% chance of protection against infection. If the remaining tests turn out successful as well, it is likely that the authorities will give permission to the company to release the vaccine.

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The yen and the franc underwent a sharp reversal yesterday, which could indicate an upcoming growth in the US dollar. However, there is a chance that it is just a rebalancing in the market associated with the strong movements over the results of the US elections.

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EUR/USD: Open long positions from 1.1750.

Open short positions from 1.1794.

Jozef Kovach,
Analytical expert of InstaForex
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