Trading plan for the EUR/USD pair on November 11. Huge rise in COVID-19 incidence.

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Trading plan for the EUR/USD pair on November 11. Huge rise in COVID-19 incidence.

Trading plan for the EUR/USD pair on November 11. Huge rise in COVID-19 incidence.

Trading plan for the EUR/USD pair on November 11. Huge rise in COVID-19 incidence.

Cases have again risen all over the world, for example, the United States was back to recording huge 135 thousand new cases a day.

Most European countries also have high incidence rates, like Italy which recorded 35 thousand new infections a day. In France though, the lockdown has worked, and this can be seen through the huge drop in cases, to 20 thousand a day.

Good news is that the COVID-19 vaccine developed by Pfizer is expected to arrive this December.

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EUR / USD – Retain the long positions from 1.1750, but place stop at 1.1775.

Longs may also be set up from 1.1845.

Open short positions from 1.1775.

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At the moment, there is no reason for growth in the US market. Therefore, it is best to sell positions, all while having new targets upward.

The material has been provided by InstaForex Company – www.instaforex.com

Source : https://www.fx.co/forex_analysis/quickview/263696/