FX.co ★ Trading plan for EUR/USD on July 24, 2020. The second wave of the coronavirus deteriorates the situation in the markets.

The second wave of the pandemic is at its peak. No noticeable decline in the number of new cases have been observed in the leading countries - the United States, Brazil and India, which is bad news not only for the citizens but to the economies as well.

In addition, infection rate is also rising in some countries in Latin America, namely Peru, Mexico and Chile, which is alarming.

Fortunately, mass vaccination could begin by November this year.

S&P 500 - a noticeable decline is seen in the market, due to the weak US labor market report published on Thursday. If this continues, oil may collapse again in the future.

EUR/USD: the euro continues to rise.

The quote may be able to break above the level of 1.1620. If such occurs, take profit at the level of 1.1680.

But for now, keep buying from the level of 1.1340, and stop at 1.1370.

You can also buy with a pullback from 1.1480.