FX.co ★ Trading plan for EUR/USD on August 4, 2020. Drop in COVID-19 incidence: Is the second wave receding?

Another drop in new COVID-19 cases has been observed especially in Brazil, which recorded a sharp decrease to below 20 thousand a day.

Meanwhile, India is still at above 50 thousand new infections a day and does not fall, but fortunately, mortality in the country is below 1,000 a day.

EUR/USD: The euro is consolidating after a strong movement upward.

Buy at the level of 1.1785, and stop at 1.1740. The target price level is 1.1885.

Sell from the level of 1.1690, with a stop of about 45 pips and profit of about 100 pips.