empty
 
 
12.08.2020 10:48 AM
Trading plan for EUR/USD on August 12, 2020. COVID-19: some lull in the second wave

This image is no longer relevant

EUR / USD - The euro pierced down the price level of 1.1720. Although sell transactions are the current priority, a reversal upward could happen today in the market. In such a case, buy positions from the level of 1.1810, and stop at 1.1765.

As for news, data on CPI will be published at 13:30. Usually, this indicator is very important, but the current economic crisis cancels this out.

Meanwhile in the United States, elections are fast approaching, and Trump's position is very weak. However, his opponent, Joe Biden, is also not that strong, so uncertainty is growing, which puts pressure on the US dollar.

This image is no longer relevant

S&P 500 daily chart: The market has finally reached yearly highs. It is predicted that a strong decline is soon to follow.

Thus, from a rebound to the top, carefully sell positions for profit.

This image is no longer relevant

The coronavirus pandemic has stopped at high levels. All three leaders - US, Brazil and India are above 50 thousand new cases a day.

Meanwhile, a vaccine against the virus is already ready in Russia, and its partial use will begin in 2 weeks. Europe and the US believe that a longer time and test cycle is still needed for the vaccine. Nonetheless, it will be open to everyone by January 1, 2021.

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 $1000 more!
    In April we raffle $1000 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