FX.co ★ Trading plan for the EUR/USD pair on October 23. New record high on COVID-19 incidence; Growth in the US dollar.

Latest data indicates that the world saw a new record high on COVID-19 incidence, having listed almost 500 thousand new cases worldwide.

The most alarming situation is Europe's, as France recorded a massive figure of 41 thousand new infections a day. Britain and Spain then follows, with 21 thousand new cases a day.

A vaccine for the disease is expected to come out this November.

EUR/USD - The euro declined slightly after demand for the dollar increased amid strong reports on the US labor market.

Set up long positions from 1.1710-1.1750 to 1.1700

1.700 is a support level for the euro, however, it's still unclear whether it will be strong enough to withstand pressure from the bears.

Good luck!