FX.co ★ Trading plan for EUR/USD on March 11. Europe is threatened with another COVID-19 wave. Euro to rebound because of the ECB.

In general, the world is progressing very smoothly away from the coronavirus. The rate of infection has dwindled remarkably, going down by more than half of the peak records last year.

However, if we look at it closely, we will see that situations in some countries are still bad. For example, Brazil still has a very high infection rate, and Europe is at risk of another pandemic wave. In fact, daily incidents in both France and Italy are huge, and the pace of vaccinations is very slow.

EUR/USD: Bulls are trying to raise the rate of the euro up, but the direction of the currency greatly depends on the outcome of the ECB meeting today.

Open long positions from 1.1920 to 1.1860.

Open short positions from 1.1830.

The data on US inflation failed to make an impact on the markets yesterday.