FX.co ★ Trading plan for EUR/USD on July 27, 2020

The second wave of the pandemic continues. The most affected countries are still the United States, Brazil and India, but over the past day, a significant drop in new cases have been observed both in the US and Brazil - by 20 thousand or more. Perhaps, this is a sign that the world will soon emerge and recover from the pandemic.

Countries are also working hard for vaccines, and it may begin to be released around October-November.

EUR/USD: take profit on transactions that haven't been closed yet. This is because there is a resistance line in the area of 1.1700-1.1750, which also passes through the highs of the euro in 2008 and 2014. In addition, there has been no rollback in the chart for a long time.

Buy positions from the level of 1.1570 after a strong pullback.

News: The main event this week is the FOMC meeting on Wednesday, during which the Fed will assess the prospects of recovery of the US economy and whether anything will change in politics.