FX.co ★ Trading plan for the EUR/USD pair on October 16. Second pandemic wave and the US elections.

The situation is still bad in Europe. As of the moment, France has recorded 30 thousand new coronavirus patients, much higher than the figure it listed a day ago.

Meanwhile, the United Kingdom has observed a slight decrease in new cases to 19 thousand, while in Spain, it increased to 13 thousand.

The S&P 500 index shows that the US market has bounced up sharply. However, it is unlikely to move further before the November elections.

EUR/USD: The euro declined after a strong US employment report yesterday.

Open short positions from 1.1715.

Open long positions from 1.1760.