FX.co ★ Trading plan for EUR/USD on January 8. COVID-19 incidence is at its peak. Meanwhile, the euro moved down in the charts.

Morbidity of COVID-19 continues to increase. Yesterday, the total number of new cases reached 800,000, which is a new peak. In the United States, incidence jumped to 253,000, while in the UK, it was at 52,000. Brazil also recorded a huge 87,000 new coronavirus cases.

On the bright side, vaccinations are underway, but its effect will appear not earlier than February.

EUR/USD - the euro is under a correction.

Open long positions at 1.2285.

With regards to economic news, the US released a report on weekly employment yesterday, which indicated that long-term unemployment decreased by 200,000. All in all, the figure dropped to 5 million. For the Non-farm report, the data will be published today.

As for the US market, the indices gained new highs, therefore, many are waiting for a big correction.