empty
 
 
30.06.2020 10:53 AM
Trading plan for EUR/USD on June 30, 2020. Second wave of the coronavirus: a surge in incidence but decline in mortality. Latest news on the US market.

This image is no longer relevant

The United States has observed a huge increase in daily incidence of the virus to 44.7 thousand. Brazil, meanwhile, recorded a slight decrease (but still high) to 25 thousand, while India has a high figure of around 18 thousand. These massive jumps in data suggests that a second wave of the pandemic has started. The WHO has stated that the peak of the epidemic has not yet been passed, so these figures may still escalate in the near future.

But despite such terrible data, mortality has sharply dropped in figures. In the US, deaths are less than 350 per day, much lower than the record 1-1.5 months ago with the same huge number of daily incidence. Perhaps, this means that treatment methods have improved, or the virus has mutated towards lower mortality.

This image is no longer relevant

S&P 500 - the US market bounced up from the 50-day average as expected (see chart). It will continue moving up but from such highs, sell positions are recommended. The reason for which is that the US economy will inevitably have a slower recovery in the coming weeks.

This image is no longer relevant

EUR / USD: The euro was not able to consolidate so it fell back into the range.

Sell positions if the quotes fell to 1.1190 and lower, and buy when the quotes increase to 1.1290 and higher. Place stops at about 45 to 100 pips (4-digit).

A strong US data may come out tomorrow, July 1.

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