FX.co ★ Trading plan for EUR/USD on August 31

A clear slowdown in the pandemic was observed in the United States and Brazil, having recorded a decrease in daily incidence to below 35 thousand. The data for August 20 was especially good, but then it is already given that figures are usually too low during the weekend. Nevertheless, the data on previous days clearly show a decline in both countries, and this poses good news.

Unfortunately, the same cannot be said in India, as the situation there has become pretty bad. Infection rate has gone up to about 80 thousand a day, which is similar to China's record in the previous wave.

The situation is not good as well in Latin America, particularly in Mexico, Argentina, Peru and Colombia.

EUR / USD: A bullish mood persists in the euro, however, it still can not go above the levels 1.1930-1.1950.

The upcoming reports for the US labor market may also pose as resistance, or perhaps an impetus for a price decrease in the EUR / USD pair, especially if the real data coincides with the forecast - about 1 million new jobs and noticeable decrease in unemployment to below 10%.

In any case, set long positions from 1.1930, or short positions from 1.1760.