Trading plan for EUR/USD on January 11. COVID-19 has retreated a bit. Meanwhile, the euro is under a correction.

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There is a decline in both global and US COVID-19 incidence. However, a decrease usually takes place on weekends, therefore, it is necessary to wait for today's data to see if the virus has really retreated.

In any case, vaccination is active around the world, albeit at a slow pace. The effect is expected to be seen not earlier than February. At the moment, Israel is leading on the percentage of vaccinated citizens, where by the end of March, it would already amount to more than 50% of the population.

Meanwhile, the situation in Europe is still bad. Tough quarantine measures are imposed in Britain and Germany.

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EUR/USD - the euro is under a correction. Therefore, traders can gain more profit on short positions.

As for longs, trades may be set from 1.2180, 1.2285 or from a new local high.

The material has been provided by InstaForex Company - www.instaforex.com