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22.10.202008:36 Forex Analysis & Reviews: Trading plan for the EUR/USD pair on October 22. Continued rise of COVID-19 cases and growth of the European currency.

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 22.10.2020 analysis

There is a lull in the US market, which suggests that growth has a low chance of occurring any time soon. Instead, look forward to price rebounds and then sell, as such will happen before and after the US presidential elections.

Exchange Rates 22.10.2020 analysis

As of the moment, the total figure of COVID-19 cases around the world is 437 thousand.

Europe continues to observe record high incidence rates, so now, the UK and France have more than 26 thousand new patients a day. Spain, Italy and the Czech Republic, meanwhile, have recorded more or less 16 thousand.

Exchange Rates 22.10.2020 analysis

EUR / USD - growth continues in the European currency.

Thus, long positions may be opened from 1.1840, while stop loss may be placed at 1.1790.

Jozef Kovach
Analytical expert of InstaForex
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