FX.co ★ Trading plan for EUR/USD on August 17, 2020. Decrease in COVID-1; increase in the euro.

A decrease has been observed in the last two days, recording daily incidences in the three leading countries below 60 thousand. Latest data indicates that new infections in the US, Brazil and India have declined to 36 thousand, 22 thousand and 58 thousand, respectively, which is very good news.

EUR/USD: Euro rally has halted, and some analysts predict that a sharp decline is to occur soon.

Hence, keep buying from the level of 1.1810, and stop at 1.1765

Positions may be sold at a price level of 1.1780, but the bold blue line on the chart will be a strong support.

In case of a downward reversal, sell from the level of 1.1710, while buy from the level of 1.1870.

Good luck!