FX.co ★ Trading plan for the EUR/USD pair on October 29. Hard situation with the coronavirus; US market plummets ahead of elections.

The coronavirus continues to haunt the world, as cases persistently rise in many states. For example, France has recorded 36 thousand new cases per day, while Italy and Britain both listed more than 24 thousand. Spain and Poland jot down 19 thousand, while Germany reported 16 thousand.

Because of this, the EU will hold a special summit to discuss the fight against the coronavirus.

Meanwhile, the US market plunged ahead of the upcoming US elections. Many investors have closed their positions in order to avoid or minimize losses.

EUR/USD - The euro fell sharply yesterday and, at first glance, broke through the line of the upward channel. However, afterwards, it rebounded strongly in the market, which suggests that perhaps, there will be an upward turn.

Set up short positions from 1.1785 to 1.1790.

Open long positions from 1.1840.