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31.07.202011:49 Forex Analysis & Reviews: Trading plan for EUR/USD on July 31, 2020. Euro rises to almost 1.1900 amid latest data on US economy.

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Latest data reveals that the second wave is near the highs. Deaths in the United States and Brazil have increased above 1,000 a day, and cases in Columbia have risen to almost 10 thousand a day.

Conclusion for the US: Trump may not be elected due to his failure in the fight against the coronavirus. His rating has lagged behind Biden by 9%, and this is a lot in the 3 months before the election. Trump proposed to postpone the election to a later time due to the pandemic, but such decision can only be made by the Congress.

EUR / USD: The euro rose to almost 1.1900 amid latest data on the United States.

According to a report, US GDP for the 2nd quarter is 32.9% y / y, slightly less than what economists had expected. In addition, long-term unemployment, although has stopped at about 17 million, is still above the pre-crisis levels, and such is negative for the United States.

Buy from 1.1700 or below, after a strong pullback in quotes.

Selling is risky but you can do so from the last high with at least 45-pip stop.

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