Trading plan for the EUR/USD pair on October 14. Second pandemic wave in Europe.

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The situation is persistently turning bad in Europe, as many states continue to record high levels of incidence rate with coronavirus. The most notable of which is the United Kingdom, which recorded 17 thousand new cases, followed by France, which listed around 13 thousand. Meanwhile, the Czech Republic, Holland, Spain, Italy, Poland and Ukraine all recorded more than 5 thousand new infections per day.

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US stocks are set to remain in a bull market for a long period of time, undoubtedly repeating all the highs recorded last September. Nonetheless, sales can still be made, but as long as it has a small stop.

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EUR/USD: The euro dropped sharply yesterday, halting its upward impulsive wave.

Regardless, its further direction is still unclear, so perhaps, the upcoming Beige Book report of the Fed will determine what movement it will take.

Set up short positions from 1.1730 or 1.1720, and then place stop loss at about 45 pips.

Open long positions from 1.1830.

The material has been provided by InstaForex Company - www.instaforex.com