FX.co ★ Trading plan for EUR/USD on July 13, 2020. Update on the coronavirus and news on the US market.

The latest data on the coronavirus reveals that there has been no decline in the daily increase of infections, which suggests that the second wave of the pandemic is in full swing. The only good thing is that mortality has decreased, amounting to 1.5 times lower than the highest records in April, when the number of infections were about 100 thousand per day. It seems that the virus has lost its lethality during mutations.

As of July 13, the three "leaders" in the second wave are the United States, Brazil and India. Data shows that the United States has a huge record of 58 thousand new infections per day, much more than the number of new cases observed in Brazil and India together. Deaths, however, are less than 500, which is roughly about 1% of cases.

Another potentially dangerous situation is in South Africa, which observes an escalating number of infections.

S&P 500: It seems that the market is ready to rise at maximum levels, since the NASDAQ index is already above pre-crisis highs. As long as the Fed and the government continue to stimulate growth, the market will try to grow as well.

EUR/USD: The euro is awaiting the results of the upcoming ECB meeting on Thursday, in which many are expecting the rates to remain unchanged at zero levels. Increasing stimulus for economic growth is also not counted on, as the coronavirus situation within Europe is still not clear, and another outbreak is still possible. Reserves will be needed if such an occurrence happens.

At the moment, the euro is in a range so be ready to buy positions from 1.1370, or sell positions from 1.1250.