Trading plan for the EUR/USD pair on October 30. New peak of COVID-19 incidence - around 545 thousand new cases a day.

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A new peak in coronavirus incidence was recorded recently- around 545 thousand new cases a day worldwide. 91 thousand of it came from the United States, which further decreases the chance of Donald Trump winning in the upcoming US elections. Infections continue to increase as well in many parts of Europe.

Against this background, everyone is advised to follow health protocols and, if possible, avoid crowded places, especially in enclosed spaces.

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EUR/USD - The euro fell sharply on Thursday after very strong economic data from the United States. According to a report, US GDP grew 33% in the 3rd quarter, covering the 30% drop observed in the last quarter. The US Department of Commerce said the US economy has fully recovered from the downturn caused by the lockdown.

At the same time, employment in the US also increased by 700 thousand.

Keep short positions from 1.1785, however, there is a very strong support at 1.1645 ahead, so a rebound is possible.

Open long positions from 1.1760.

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