FX.co ★ Trading plan for EUR/USD on July 21, 2020. The EU summit ends in success! € 750 billion will be allotted to support the EU economy. Slowdown in the coronavirus pandemic

The EU summit has finally ended, during which EU leaders have approved a huge 750-billion recovery fund to support the economy. € 390 billion will be grants, while the remaining € 360 billion are for soft loans. In addition, at least a third of the sums will go to the development of green technologies, as the EU plans to abandon hydrocarbons by 2050.

EUR/USD: The euro is still facing strong resistance around 1.1500. Nevertheless, its growth still continues in the trading chart.

Buy positions from the level of 1.1345, in order to trigger a breakout above 1.1500.

You may also buy with a pullback from 1.1400 and below.

As for the coronavirus, there seems to be a decline in the pandemic as the hardest-hit countries, namely the United States, Brazil and India, have recorded two-day decreases in the number of new COVID-19 infections. Moreover, the number of deaths per day have also decreased.