FX.co ★ Trading plan for EUR/USD on July 29, 2020. Drop in daily COVID-19 incidence.

Another drop has been recorded in the United States and Brazil in terms of new coronavirus cases a day. According to the data, the US recorded 60 thousand cases as of today, July 29, much lower than the figure three days ago which was 75 thousand. Brazil's cases also declined sharply to 23 thousand a day.

As for mortality, the number of deaths is much lower than the previous figures, which suggests that the lethality of the virus has decreased significantly in summer, by about 3-4 times.

EUR/USD: the euro stopped rising ahead of the announcement of the Fed's decision on monetary policy, which will come out today at 19:00.

Hence, at the moment, buy from the level of 1.1675 or lower.

This is because although the upward trend is in force, a deep correction is quite possible.

As for news, tomorrow at July 30, an important report on the US GDP for the 2nd quarter will be published, the forecast of which is minus 35% (in annual terms).