Trading plan for the EUR/USD pair on October 16. Second pandemic wave and the US elections.

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The situation is still bad in Europe. As of the moment, France has recorded 30 thousand new coronavirus patients, much higher than the figure it listed a day ago.

Meanwhile, the United Kingdom has observed a slight decrease in new cases to 19 thousand, while in Spain, it increased to 13 thousand.

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The S&P 500 index shows that the US market has bounced up sharply. However, it is unlikely to move further before the November elections.

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EUR/USD: The euro declined after a strong US employment report yesterday.

Open short positions from 1.1715.

Open long positions from 1.1760.

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