12.08.202010:48 Forex Analysis & Reviews: Trading plan for EUR/USD on August 12, 2020. COVID-19: some lull in the second wave

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EUR / USD - The euro pierced down the price level of 1.1720. Although sell transactions are the current priority, a reversal upward could happen today in the market. In such a case, buy positions from the level of 1.1810, and stop at 1.1765.

As for news, data on CPI will be published at 13:30. Usually, this indicator is very important, but the current economic crisis cancels this out.

Meanwhile in the United States, elections are fast approaching, and Trump's position is very weak. However, his opponent, Joe Biden, is also not that strong, so uncertainty is growing, which puts pressure on the US dollar.

S&P 500 daily chart: The market has finally reached yearly highs. It is predicted that a strong decline is soon to follow.

Thus, from a rebound to the top, carefully sell positions for profit.

The coronavirus pandemic has stopped at high levels. All three leaders - US, Brazil and India are above 50 thousand new cases a day.

Meanwhile, a vaccine against the virus is already ready in Russia, and its partial use will begin in 2 weeks. Europe and the US believe that a longer time and test cycle is still needed for the vaccine. Nonetheless, it will be open to everyone by January 1, 2021.

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