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02.07.202011:03 Forex Analysis & Reviews: Trading plan for EUR/USD on July 1, 2020. An update on the coronavirus around the world. Latest news on the US market.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 02.07.2020 analysis

Latest data reveals that the United States continues to observe a huge jump in coronavirus incidence to more than 50 thousand per day. This clearly suggests that a second wave of the pandemic has occurred in the country.

Trump's standing in the November elections has significantly weakened because of this, since the figures three weeks ago were stable at 20-22 thousand per day. Trump clearly failed to fight against the pandemic.

Other "leaders" of the second wave are Brazil, India, Peru and Chile.

With regards to lethality, the virus seems to have downgraded, which is good.

Exchange Rates 02.07.2020 analysis

US Market: A new wave of growth is brewing in the S&P 500 daily chart due to the fairly good macroeconomic data that came out this June. The ISM index was at 52, which is higher than economists' forecast, but new jobs, on the contrary, came out behind it.

Exchange Rates 02.07.2020 analysis

EUR/USD: Traders are waiting for the new data on US employment which will come out at 13:30 (UTC+1).

Keep buying positions from the level 1.1245.

Sell positions from 1.1180.

Jozef Kovach
Analytical expert of InstaForex
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