FX.co ★ Trading plan for EUR/USD on February 2. COVID-19 is retreating. Euro traded downwards overnight.

Latest data shows that global incidence has decreased rather significantly, which suggests that COVID-19 is now retreating. In fact, the number of new infections have fallen almost twice from the peak, with the US leading the largest decline.

But one surprising scenario is that Israel, although vaccinated almost 50% of the population, recorded a sharp rise in infections, almost 9,000 new cases a day. That is quite huge for a country that has only 7 million residents.

As for other countries, large states in particular, they have vaccinated less than 5% of the population.

EUR/USD - Euro traded at 1.2055 overnight. Perhaps, this is due to the good data on ISM Industrial Index, which came out at 58 points for January.

Markets await the upcoming employment reports this Wednesday and Friday.

Open short positions from 1.2055

Open long positions from 1.2160