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FX.co ★ Trading plan for the EUR/USD pair on November 11. Huge rise in COVID-19 incidence.

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Forex Analysis:::2020-11-11T07:53:12

Trading plan for the EUR/USD pair on November 11. Huge rise in COVID-19 incidence.

Trading plan for the EUR/USD pair on November 11. Huge rise in COVID-19 incidence.

Cases have again risen all over the world, for example, the United States was back to recording huge 135 thousand new cases a day.

Most European countries also have high incidence rates, like Italy which recorded 35 thousand new infections a day. In France though, the lockdown has worked, and this can be seen through the huge drop in cases, to 20 thousand a day.

Good news is that the COVID-19 vaccine developed by Pfizer is expected to arrive this December.

Trading plan for the EUR/USD pair on November 11. Huge rise in COVID-19 incidence.

EUR / USD - Retain the long positions from 1.1750, but place stop at 1.1775.

Longs may also be set up from 1.1845.

Open short positions from 1.1775.

Trading plan for the EUR/USD pair on November 11. Huge rise in COVID-19 incidence.

At the moment, there is no reason for growth in the US market. Therefore, it is best to sell positions, all while having new targets upward.

Analyst InstaForex
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