FX.co ★ Trading plan for EUR/USD on July 31, 2020. Euro rises to almost 1.1900 amid latest data on US economy.

Latest data reveals that the second wave is near the highs. Deaths in the United States and Brazil have increased above 1,000 a day, and cases in Columbia have risen to almost 10 thousand a day.

Conclusion for the US: Trump may not be elected due to his failure in the fight against the coronavirus. His rating has lagged behind Biden by 9%, and this is a lot in the 3 months before the election. Trump proposed to postpone the election to a later time due to the pandemic, but such decision can only be made by the Congress.

EUR / USD: The euro rose to almost 1.1900 amid latest data on the United States.

According to a report, US GDP for the 2nd quarter is 32.9% y / y, slightly less than what economists had expected. In addition, long-term unemployment, although has stopped at about 17 million, is still above the pre-crisis levels, and such is negative for the United States.

Buy from 1.1700 or below, after a strong pullback in quotes.

Selling is risky but you can do so from the last high with at least 45-pip stop.