FX.co ★ Trading plan for EUR/USD on July 9, 2020. Update on the coronavirus and news on the US market. The euro is on a rise.

The second wave of the coronavirus is in full swing.

According to the latest data, the United States has recorded a huge number of new infections at 55 thousand per day, and listed deaths to almost 1,000 per day.

Brazil has a similar situation, recording 48 thousand new cases and 1,300 deaths.

India, meanwhile, has a daily increase of more than 23 thousand new infections.

US market - a consolidation will occur, after which growth will continue.

Sell positions from the highs that will be reached.

Today, an important report on the US labor market will come out at 13:30 (UTC + 1).

EUR / USD: a strong bullish signal surrounds the euro. It already hit the highest level reached in June (1.1350), and is now under a correction.

Buy positions at the current level 1.1335 or lower.

You may also buy from 1.1245, but stop at 1.1260.

Look forward to a continued growth in the direction of 1.1500 and above.

In case of a reversal, sell from 1.1260.