empty
 
 
01.07.2020 11:42 AM
Trading plan for EUR/USD on July 1, 2020. A second wave of the coronavirus. The US market has observed a new wave of growth. The euro is awaiting latest news in the United States.

This image is no longer relevant

Recent data indicates that the United States has observed another jump in daily incidence to 46 thousand. This suggests that a new outbreak may have started, in which most of the new infections were from Texas and Florida. Mortality has also increased from below 400 to more than 700 per day. Such escalation puts forward the idea that a new hard quarantine is needed. However, such a decision will hit the economy significantly.

Brazil also observes the same difficult situation, in which new cases have risen to 38 thousand per day.

In India, the daily infection rate is 18 thousand.

There is no doubt that today, July 1, there is a new wave of growth in the coronavirus pandemic.

This image is no longer relevant

US Market: the S&P 500 daily chart has observed a new wave of growth. An increase to quarterly highs is expected, after which a strong fall from there will occur.

Prepare sell positions from the previous highs.

Today, important data on the US economy will come out, in which the report of ADP on employment in June will be published at 13:15 (UTC + 1) while the ISM industrial index will be published at 15:00 (UTC + 1 )

This image is no longer relevant

EUR/USD: the euro is trading in a narrow range. The upcoming data on the US economy will most likely affect its next movements.

As we can see, the euro formed daily levels at a distance of only 100 points between the upper and lower limits of the range.

Open buy positions from 1.1290.

Sell from 1.1189.

Place the stops at about 45 pips, and profit at least 100 pips.

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