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FX.co ★ Trading plan for EUR/USD on May 13, 2020. Updates on the coronavirus. The market is waiting for an impulse.

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Forex Analysis:::2020-05-13T07:58:36

Trading plan for EUR/USD on May 13, 2020. Updates on the coronavirus. The market is waiting for an impulse.

 Trading plan for EUR/USD on May 13, 2020. Updates on the coronavirus. The market is waiting for an impulse.

Coronavirus in the world: Update as of the morning of May 13.

The United States has obviously passed the peak of the pandemic. The number of new cases dropped to 23 thousand, and the number of deaths per day, 1,600, although higher than the previous day, is significantly lower than the highest recorded last month - about 2,500 per day.

An unpleasant high mortality rate stays in Britain - more than 600 per day. British Prime Minister Boris Johnson is having problems with the opening of the UK economy against such backgrounds.

Russia already ranks number 3 in the highest number of new infections, with its 11,000 new cases per day. If this continues, it may overtake Spain in 5 days and claim the spot of 2nd place.

Brazil is also rapidly moving up the table with its gain of 8,500 new cases per day. It may overtake France's spot and move to number 6 today. Such is the result of contradictions between Brazilian authorities, as well as the rush in lifting quarantine restrictions - the president denied the presence of the coronavirus in the country.

The economies of Europe and the United States are starting to open. By the end of May, a significant portion of businesses will start working. The Russian economy also began to open on May 12, but it is very risky with such a high growth of new cases. Russia clearly has not passed yet the peak of the epidemic, and a premature opening of the economy can cause a new wave.

News: The US recorded a huge jump in the budget deficit - about $ 737 billion. However, this is just natural because payments were made to people and businesses in March and April. Inflation, on the other hand, did not change significantly.

The weekly US unemployment report will be published on Thursday.

 Trading plan for EUR/USD on May 13, 2020. Updates on the coronavirus. The market is waiting for an impulse.

EUR / USD: The euro is trading in a narrow range. An impulse is needed to move.

Open buy positions from 1.0875.

Open sell position from 1.0780.

Analyst InstaForex
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