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29.06.202011:08 Forex Analysis & Reviews: Trading plan for EUR/USD on June 29, 2020. A second wave of the coronavirus. Important data are ahead.

Exchange Rates 29.06.2020 analysis

The table above shows statistics on the coronavirus as of the morning of June 29. The data suggests that the pandemic is on a second wave. More precisely, this is the second wave for the West, as the first wave was observed in China in January-February.

According to the data, the United States has once again seen a jump in the number of new cases due to poorly enforced quarantine measures. New infections have risen to 40 thousand per day, the center of which are Florida and Texas. Meanwhile, the number of deaths fell sharply to less than 300 per day, much lower than the record 1-1.5 months ago which is up to 2.5 thousand.

In Brazil, about 30 thousand new cases were observed, while in India almost 20 thousand.

Such figures give a total of more than 150 thousand new cases per day worldwide, which increases the total number of infected to more than 10 million worldwide. Mortality, meanwhile, is more than 500 thousand.

Despite such terrible data, the US and European economies continue to recover.

Exchange Rates 29.06.2020 analysis

EUR/USD: The bulls are attempting to increase the pair.

Buy positions were opened from 1.1245 this morning, so now there is a roll back.

Buy from 1.1245 or lower and stop at 1.1200.

Sell positions from 1.1189.

This week, important macroeconomic data on the US are expected to be published. Employment and ISM reports are important because they finally cover the period of open economy.

*Prezentowana analiza rynku ma charakter informacyjny i nie jest przewodnikiem po transakcji.

Jozef Kovach,
Ekspert analityczny InstaForex
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