Trading plan for EUR/USD on May 18, 2020. The world has passed the second wave of the pandemic.

By | May 18, 2020
InstaForex
Trading plan for EUR/USD on May 18, 2020. The world has passed the second wave of the pandemic.

Relevance up to 03:00 2020-05-19 UTC–5

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As of May 18, 2020, we can firmly say that the world has passed the peak of the second wave of the coronavirus pandemic – the first wave was in China, while the second wave first peaked in Western Europe (Italy, Spain), and then moved to the United States.

The daily increase of new cases in Italy and Spain have already fallen sharply, and the daily increase in deaths have also dropped below 200 (the previous figure is 1,000). Fatality in the UK also fell below 200.

In the US, the daily increase of deaths is now below 1,000 (the highest record was 2,500). Although an increase is possible, it is clear that the country has already passed the peak of the pandemic.

Meanwhile, two countries are catching up with the leading figures – Russia, where the number of new cases is around 10 thousand per day, and Brazil, where an increase of about 15,000 new cases was recorded yesterday.

Russia now places second in the highest number of coronavirus cases, following the United States. However, the country recorded a sharp decrease in the number of new cases in the last two days – daily increase of new cases in Moscow dropped to 3,500 (the highest figure recorded is 6,000).

Europe is gradually opening its economy. Businesses began to resume, and borders have been opened in countries where the epidemic is almost over. The US is also opening up a number of businesses.

The most important data for this week is the report on US unemployment, which will be published on Thursday.

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EURUSD: The euro is stuck in a narrow range, but movement will occur sooner or later.

Open buy positions from 1.0855.

Open sell positions from 1.0770.

Place stops in about 45 points, and take profit in about 100 points.

*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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