FX.co ★ Trading plan for EUR/USD on January 29. COVID-19 is slowly retreating. Euro is trading sideways.

COVID-19 is slowly retreating. Incidence in both global and individual countries have subsided, particularly in the US and UK.

But with regards to vaccination, the pace is still very slow. Apparently, manufacturers are having a difficult time meeting the huge volume of orders.

Nevertheless, forecasts are much better now than a year ago, since after all, there are vaccines, treatment methods and prevention measures already available.

EUR/USD: The Federal Reserve announced yesterday that they are maintaining the current level of the bond purchase program, that is, at $ 120 billion a month. At the same time, 4th quarter US GDP came out at 4%, with employment continuing to grow steadily, thereby reducing long-term unemployment by about 300,000.

Despite this, the euro remained undecided in which direction it will move to, so keep opening short positions to 1.2150, or open long positions from 1.2180.