FX.co ★ Trading plan for the EUR/USD pair on October 1

After a sharp rise in incidence rate yesterday, cases have again decreased in the United States as well as Brazil, recording a drop to about 41 thousand and 33 thousand respectively.

Meanwhile, India continues to observe harsh growth in the number of cases, so now it has risen to about 87 thousand a day.

The same escalation is seen around Europe as well, particularly in France and Spain, who have recorded about 12 thousand cases each.

EUR/USD - As predicted, the euro encountered a strong resistance when climbing up, however, the bulls are adamant on raising the rate, so a decline or a correction is not expected any time in the immediate future.

Keep setting up long positions from the level of 1.1685, with a stop at 1.1640.

In case of a downward reversal, set short positions from the level of 1.1610.