FX.co ★ Trading plan for the EUR/USD pair on December 9. Euro forms a narrow consolidation ahead of ECB meeting tomorrow.

Global COVID-19 incidence increased again to 580,000 a day, but nonetheless is still below the peak which is 600,000.

One of the reasons is the increased morbidity in the United States, up to 208,000 yesterday (below the peak). Deaths have also averaged around 3,000, but this is only due to the high number of patients a few days ago (280,000) caused by increased contact amid Thanksgiving Day.

In Europe, authorities are acting more harshly and sensibly. Germany introduces tough quarantine measures which will begin on Christmas until January 3-10. The vacation of students will also be extended.

Meanwhile, the UK has published a vaccination plan. People over 80 will be vaccinated first, followed by citizens over 65, and so on. This is logical since mortality from the coronavirus increases sharply with the age of patients. Obviously, the aim of this plan is to reduce mortality at a faster rate than the decline in morbidity.

EUR/USD - euro continues to form a narrow consolidation ahead of the ECB meeting tomorrow (this, however, does not exclude the possibility that movement will start before the ECB's decision!).

But since an upward trend remains, continue setting up long positions, even at a breakout of 1.2180.

Meanwhile, open short positions from 1.2075 down.

Still, please closely monitor the situation.

Good luck!