FX.co ★ Trading plan for EUR/USD on July 14, 2020. Update on the coronavirus and news on the US market.

The second wave of the coronavirus continues to escalate. According to the latest data, the number of incidence in the United States has reached 65 thousand per day, but deaths, fortunately, are less than 500.

In Brazil, there seems to be a decline, but in India, the number of cases continues to grow.

This suggests that the pandemic is at its peak, but lethality has fallen markedly, which is good.

As for the economies, China recorded a much better import / export data, which is higher than the forecasts.

Meanwhile, the decline in the UK GDP in June was stronger, coming out at a huge minus 24%.

US market - A new wave of growth is expected, in the direction of the yearly highs.

EUR / USD: yesterday, the euro failed to rise above the level of 1.1370, so it is now under a correction.

Thus, keep buying positions from 1.1338, and stop at 1.1290.

In the case of a continued decline, sell from the level of 1.1250.