FX.co ★ Trading plan for EUR/USD on February 9. COVID-19 is retreating. Euro is trading upwards.

COVID-19 is clearly retreating. Global incidence has already dropped significantly, which is a very good news. In fact, the largest decline is in the United States, as it recorded new cases below 100,000 for several days. In total, COVID-19 incidence has fallen to below 350,000, which is two times lower than the recorded peaks.

Did the vaccines cause this decline? Unfortunately, no. No more than 5% of the population has been vaccinated, and this is in developed countries. In fact, third world countries (except China) have not received any drug yet.

EUR/USD - euro is trying to grow amid optimism in the markets.

Open long positions from 1.2060.

Euro must overcome the extremely important average (highlighted in blue in the chart above), which is 1.2090.