Trading plan for EUR/USD on May 15, 2020. The markets ignored the weak data on the economy. Coronavirus in the world.

By | May 15, 2020
InstaForex
Trading plan for EUR/USD on May 15, 2020. The markets ignored the weak data on the economy. Coronavirus in the world.
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Updates on the coronavirus as of May 14.

The daily increase of new cases in Russia is still about 10 thousand. With such a figure, there are no doubts that by Monday, the country will overtake Spain and take the second place in the highest number of infections after the US.

Meanwhile, Brazil records a daily increase of new infections by about 14 thousand per day, to which in 3-4 days, the country may take the 4th place in the highest number of cases in the world.

The pandemic has mostly receded in Europe, and many countries are starting to open their economies. The most difficult situation is still in Britain.

The US is also in the process of opening its economy, but the pandemic has not fallen enough there.

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S&P 500: Optimism despite the reality.

Unemployment has grown over the week by a whopping 3 million people.

Fed Chairman Jerome Powell warned of a possible prolonged economic downturn, but investors still believe on a quick recovery.

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EUR/USD: The pair failed to consolidate below 1.0870.

Movement today may either be upwards or downwards.

Open sell positions from 1.0825, stop at 1.0870.

Open buy positions from 1.0900.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Sam Alan,
Analytical expert
InstaForex Group © 2007-2020

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